IS OMX Iceland Index Fund

Suitable for investing for 5 years or longer

What is it?

IS OMX Iceland Index Fund is an equity index fund.

Fund's Objective

The objective is to achieve the same return as the OMXI8 CAP ISK index of the NASDAQ OMX Iceland stock exchange (OMX ICE), after allowing for costs.

Invest in Fund Fact Sheet

Who Should Invest?

This Fund is suitable for investors who wish to invest funds for five years or longer and can tolerate significant fluctuations. It is recommended as part of a diversified securities portfolio. Trends over the past 13 years indicate that prices of domestic securities fluctuate substantially, and downturns can last for lengthy periods.

Investment Policy

The Fund is an index fund, cf. Article 36 of Act No. 128/2011, investing in shares of companies in the OMXI8 CAP ISK with a weighting reflecting the weighting of each company in the OMXI8 CAP ISK index. The Fund may temporarily hold liquid assets as a result of changes in the index composition, or due to market conditions. It may invest in derivatives for up to a maximum of 10% of its total assets.

This Fund is an attractive choice because of its highly diversified assets. Its yield matches the OMXI8 CAP ISK index despite experience showing that outperforming the equity index is difficult in the long term. The Fund should thus be part of all securities portfolios because its yield is very good in consideration of domestic equity market risk.

General disclaimer

This summary is intended for informative purposes only and should not be interpreted as a recommendation to take, or not to take, any particular investment action. The summary does not represent an offer or an invitation to buy, sell or subscribe to any particular financial instruments.

Taxation
The taxation of fund units is governed by the Act on Income and Net Worth Tax No. 90/2003 and the Act on Withholding Tax on Capital Gains No. 94/1996. Further taxation can occur. Unit holders not residing in Iceland can apply to the Icelandic tax authorities for an exemption from such taxation. The final taxation of non-resident unit holders depends on the local tax rules in the jurisdiction where they reside for tax purposes.

Investment in derivatives
In accordance with its Investment policy, the Fund is permitted to use derivatives to lock in profits, to minimize risk or to lock in prices in Fixed Income instruments because of forseeable redemptions or to act on market changes. A detailed description of use of derivatives can be found in the Funds Prospectus.

Risks
Various financial risks are always associated with investment activities, such as the risk of no yield or the risk of losing the capital invested. It should further be noted that international investing includes risks related to political and economic uncertainties as well as currency risk. Past performance does not indicate nor guarantee future performance of an investment. Each investor's investment objectives and financial situation is different. Before making an investment decision, it is important to seek expert advice and familiarise oneself with the investment market and different investment alternatives. Investors are encouraged to familiarise themselves with each fund´s Prospectus, especially regarding risk.

NAV

2.771,22
+33,43 (1,22%)
Nav dated 18.7.2019

Change in NAV & fund returns

Nominal return

Change in NAV 1 year



Funds

Information

Fact Sheet
Fact Sheet
Summary of Fund Returns
Tariff of Charges for Investment Services

Fund Type UCITS 
Inception Year 1991
Base Currency ISK
Minimum Purchase ISK 10,000
Minimum Purchase at Subscription ISK 5,000
Management Company Iceland Funds Ltd
Custodian Íslandsbanki
Fund Managers Mogens G. Mogensen
  Gísli Halldórsson
Fees
Initial Fee 2.00%
Annual Management Fee 0.40%
Service Charge Varies between Distributers
Transaction Orders
Settlement Cycle 2 Business Days (T+2)
Cut-off Time 15:00 GMT