IS Asset Allocation Fund - Government

Suitable for investing for 2 years or longer

What is it?

The IS Asset Allocation Fund - Government is a mutual fund that offers active asset management for investors. The savings are managed by a team of fund and portfolio managers focused on adjusting the Fund's investments in line with market changes. The Fund invests mainly in other mutual funds that invest in Government bonds.

Main Advantages

  • Active asset management
  • A team of fund managers managing your portfolio
  • High level of service and information
  • Simple and good way to build up your regular savings
  • Tax advantages

Invest in Fund Fact Sheet

Fund's Objective

The objective of the Fund is long-term capital growth by investing mainly in other mutual funds that invest in both domestic and foreign government bonds. The Fund may also invest directly in single government backed securities as well as municipalities and bank deposits.

Who Should Invest?

The Fund is suitable for investors seeking to invest for two years or longer. Its risk is highly diversified because it invests in other mutual and investment funds as well as single sovereign and municipal bonds and bank deposits. The Fund can therefore be used both as a stand-alone investment and as part of a larger portfolio.

Investment Policy

The fund is allowed to invest in UCITS-funds that invest in the bond market. The fund is also allowed to invest in other funds in accordance to section nr. 3 in article 30 of the Act no. 128/2011. The fund is not allowed to invest more than 30% in Non UCITS funds and may only invest up to 20% in one fund (both UCITS and Non UCITS). In addition the fund may not invest in funds that have invested 10% or more in other funds. The fund may own as much as 10% in liquid assets to meet redemptions or temporarily due to market circumstances but should usually be fully invested in share units of other mutual funds, bonds or bank deposits. The fund is allowed to invest in derivatives, but no more than 10% of total assets.

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

1.516,40
+3,19 (0,21%)
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 2011
Base Currency ISK
Minimum Purchase ISK 10,000
Minimum Purchase at Subscription ISK 5,000
Management Company Iceland Funds Ltd
Custodian Íslandsbanki
Fund Manager Sigurður Guðjón Gíslason
Fees
Initial Fee 1.00%
Annual Management Fee 0.50%
Service Charge Varies between distributers
Transaction Orders
Settlement Cycle 2 Business Days (T+2)
Cut-off Time 15:00 GMT