Type B 100% Capital Protected 9. Sub-Fund linked to ING Bank A.Ş. Capital Protected Umbrella Fund
Demand Collection Period:
June 04-07, 2012
ING Bank A.Ş.
ING Asset Management A.Ş.
Investment Instruments that the Fund invests in:
Treasury Bills/Government Bonds/Reverse Repo and Over-the-counter Options Contracts
Capital Protection: 100 % (Valid at maturity and within the scope of the best effort principle.)
Fund Investment Period:
08/06/2012 - 15/05/2013 (341 days)
Underlying Index for fund's return:
Gold (USD/Ounce), Brent Crude Oil (USD/Barrel), USD/TL exchange rate, ISE30 Index.
For the ISE30 Index value, the closing value of Bloomberg XU030 Index will be used. The USD/TRY exchange rate will be calculated by using the EUR/TRY and EUR/USD exchange rates declared by the European Central Bank on Reuter's ECB37 page, at 2:15 in the afternoon, Frankfurt time. In the calculation of the Gold (USD/Ounce) and Brent Crude Oil (USD/Barrel) prices, the Gold USD/Ounce price fixing announced on Bloomberg GOLDLNPM page in the afternoon (approximately 15:00 London time). As the Brent Crude Oil price, the closing USD/Barrel price of the most nearby options contracts announced at ICE Futures Europe will be taken into account. This price is announced on Bloomberg CO1 <CMDTY> page.
Investment objective of the fund:
Our fund, while offering protection for your capital at maturity within the "best effort principle", it will also offer a return in relation to the increase in the ISE30 Index, USD/TL exchange rate, Gold (USD/Ounce) and Brent Crude Oil (USD/Barrel) prices, in proportion with the participation.
The fund will remove the underlying asset, which offers the highest return on the observation dates throughout the term, from the basket, and track the returns of the remaining underlying assets. At the end of the investment period, the arithmetic average of the returns of the underlying assets which have generated the highest return in each observation period will be used to offer investors a return in Turkish Lira (TL), in proportion with the participation. Negative returns will be used in the calculations at the end of the investment period as zero increase in value.
August 28 2012, November 01 2012, February 05 2013, May 13 2013.
Operation of the fund:
There are 4 underlying assets in the fund that will be checked for index values, and there will be 4 observation periods throughout the term.
At the end of the first observation period, out of 4 underlying assets, the performance of the one with the highest positive return compared to the starting price is recorded and the asset is removed from the basket.
At the end of the next observation period, out of the 3 remaining underlying assets, the performance of the one with the highest positive return compared to the starting price is recorded and the asset is removed from the basket.
At the end of the next observation period, out of the 2 remaining underlying assets, the performance of the one with the highest positive return compared to the starting price is recorded and the asset is removed from the basket.
At the end of the last observation period, the positive return of the last remaining underlying asset compared to its starting value is recorded and the asset is removed from the basket.
The investors will receive a return based on the arithmetic average of the returns of the highest yielding assets in each observation period, in proportion with the participation. Negative returns will be used in the calculations as zero increase in value. As the worst case scenario, if no price increase is observed in any of the underlying assets in the observation periods, the investors will only receive back the capital they have invested.
Based on the current market conditions, it is anticipated that the Participation Rate will be 75%. This rate will be finalized and announced after the public offering period.
Multiples of shares:
10.000 shares and multiples.
Fund management fee:
Fund share price declaration periods:
Twice per month (1. and 15. business day of every month.)
Fund purchase period for investors:
Only during the demand collection periods. The amounts collected against the purchase orders placed by the investors until 13:00 during the demand collection period accrue interest with O/N Repo.
Fund sales period for investors:
Sales orders for the sub fund can be placed on every business day as of the starting date of the investment period of the sub fund. However, these orders will be executed at the first share price that follows the entry of the order. The orders placed until 13:00, 1 day before (T-1), the day that the price will be announced (T), will be executed at the price announced on day (T).
The sales orders placed after 13:00, 1 day before (T-1), the day that the price will be announced (T), are held until the next price announcement day.
Upon the submission of the orders by the investors in accordance with the principles above, the sales amounts are paid to the investors within 3 (three) business days (T+3), after the announcement of the price at which the order will be executed. In the case that a profit is generated, required taxes will be collected from the investment accounts.
The balance that will be transferred to the investor's account is calculated by subtracting the early exit fee.
For fund sales performed before maturity, capital protection is not in effect.
Early Exit Fee:
In the case that the participation shares are sold by the investors within the investment period, a 2% early exit fee is charged. The aforesaid fees are recorded as revenue for the sub fund on the day they are collected. The fee rate that will be calculated over the sub fund share price is 2% (two percent.)
In the case that a revenue is generated, a 10% withholding tax will be deducted from the revenue.
ING Bank A.Ş. branches
*Before investing in the fund, the investors should take into consideration the matters explained in the prospectus and internal regulations of the fund. You can access the prospectus, circular and internal regulations of the funds through ING Bank branches, ING Asset Management, www.ingbank.com.tr and Public Disclosure Form.
**Investment products cannot be sold to "American Persons" by our Bank. American Persons include persons, themselves or their proxies, who define themselves as a resident real person in the USA or persons who are a member of a definable group (e.g. US Army or Consulate personnel) consisting of American citizens outside of the USA, and who use their contact information in the USA for transactions such as account opening or verification transaction.