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Prospectus

  • Section À. Information on the Issuer
  • Section B. Characteristics of the Unit Investment Fund
  • Section C. Fund’s Regulations
    Investment declaration
  • Section D. Information on the Issue of Fund’s Investment Certificates
  • Section E. Information on the Previous Issue of Fund’s Investment Certificates
  • Section F. Asset Management Company Fee
  • Section G. Information on Expenses Compensated From the Fund's Assets
  • Section H. Information on the property independent appraiser
  • Section I. Information on the Registrar
  • Section J. List of Stock Exchanges and OTC Markets, Where Fund’s Investment Certificates Are Placed
  • Section K. Information on the Securities Trader Involved into Fund’s Investment Certificates Placement and Redemption
  • Section L. Information on the Custodian
  • Section M. Information on the Auditor
PROSPECTUS
Investment Sertificates Issue
of the Open-End Diversified Unit Investment
Fund “KINTO-Classical”
of the Open Joint Stock Company “ʲNTO”
Section À. Information on the Issuer
(public offering)

Section À. Information on the Issuer

1. Full name: Open Joint Stock Company “KINTO”
Short name – OJSC “ʲNÒΔ.

2. Registration Code (ªÄÐÏÎÓ) – 16461855.

3. Organizational and legal form - open joint stock company

4. Location - 26 Lesya Ukrainka Blvd., Kyiv, Ukraine

5. Tel: (044) 246-73-50

6. Fax: (044) 235-58-75

7. E-mail: k³nto@k³nto.com.

8. Date and the institution of the state registration: registered as a legal entity by the Pechersk District State Administration in Kyiv on 23 March, 1992; re-registered by the Pechersk District State Administration in Kyiv on 8 January, 2003.

9. Information on the managers:

Name

Education

Qualification

Direct participation in the statutory fund (%)

Indirect participation in the statutory fund (%)

Oksanych Sergiy Mykhailovych

Higher

Economist

28.7485

1.3173

Fedorenko Anatoliy Vasyliovych

Higher

Economist

12.8866

-

Radzievska Nadiya Victorivna

Higher

Economist

2.9167

-

Veremienko Sergiy Mykolaovytch

Higher

Economist

0.2045

-

Peter Goldsheider
(citizen of Austria)

Higher

Lawyer

0.0001

18.1818

Lukasevych Vasyl Bogdanovych

Higher

Economist

1.9816

-

Moskalenko Svitlana Mykolaivna

Higher

Economist

0.0273

-

Shynkevych Yuri Petrovitch

Higher

Mechanical Engineer

1.1448

2.7279

Novikov Olexandr Mykolaovitch

Higher

Economist

1.2636

-

Vasylyieva Irina Michaylivna

Higher

Linguist

1.0549

-


10. Joint Stock Company “Ukrainian Innovation Bank” is the founder of the Open-end Open Joint Stock Company “ʲNÒΔ (“The Company”). The share of the “Ukrainian Innovation Bank” at the statutory capital of “KINTO” is 1,11%.

11. Information on proprietors and the affiliated persons:

Information on proprietors and KINTO President

Group

Full name of legal entity – proprietor (shareholder, participant) of declarant or full name individual  entity – proprietor (shareholder, participant) and manager of declarant

Registration Code (ªÄÐÏÎÓ) of

legal entity – proprietor of declarant or identification code of individual entity

Location of legal entity or passport information of individual entities which information is given in relation to

A particle is in the chartered capital of KINTO, %

1

2

3

4

5

À

Proprietors of – individual entities *:

 

 

83.99

 

Oksanych Sergiy Mykhailovych

2040704877

Passport series ÑÎ ¹ 873577, Issued in Kiev on 11/12/01

28.75

 

Daniel Goldscheider

d/i

Passport series P, AUT, number #H 05195520, issued by Austrian embassy in Zurich on 08/05/01.

Switzerland, Oberwil,

Zeughausgasså 19. 6300 Zyg.

18.18

 

Fedorenko Anatoliy Vasyliovych

1800907019

Passport series ÑÎ ¹ 296999, issued in Kyiv on 24/12/99

12.89

B

Proprietors are legal entities:

 

 

16.01

 

ATLAS GLOBAL VENTURES, INC

 

20 Queen ST West Toronto Ontario Canada

2.27

 

Joint-stock commercial bank «Lisbank»

d/i

31 Artema St., Kyiv

0.03

 

Joint stock company “Postup”

d/i

1 Privokzalna Sqr., Mikolaiv

0.01

 

Closed joint stock company “Finance and Credit”

d/i

27, Getmana St.,

0.13

 

JSC “Ukrinbank”

05839888

01601, 12a Instytutska St., Kyiv

1.00

 

Open joint stock company “Oksana Plus”

21561056

04074, 8 Rezervna St., Kyiv

0.00

 

Joint company “Fantom”

d/i

9 Frunze St., Lugansk

0.02

 

Joint company “Diamed”

d/i

117a Cheluskinciv St., Donetsk

0.05

 

"KINTO Invest, Ltd"

32915716

01034, 2/1 Lysenka/Yaroslaviv Val St, Kyiv

12.50

 

“Satelit-3” Invest Ltd

21626465

04074, 8 Rezervna St., Kyiv

0.00

C

KINTO President:

Oksanych Sergiy Mykhailovych

2040704877

Passport series ÑÎ ¹ 873577, Issued in Kiev on 11/12/01

28.75

 

 

Total

 

100.00


Information on the affiliated persons of founders of KINTO – individual entity *

¹

Full name individual entity – founder of declarant and its direct relatives, group of the affiliated persons

Identification code

Character of legal entity in relation to which exists tie-up

Registration Code (ªÄÐÏÎÓ) of

legal entity in relation to which exists tie-up

Full name of legal entity in relation to which exists tie-up

Location of legal entity in relation to which exists tie-up

A particle in the chartered capital of the affiliated person %

Post is in the affiliated person

1

2

3

4

5

6

7

8

9

1

Oksanych Sergiy Mykhailovych

2040704877

o

32915716

"KINTO Invest, Ltd"

01034, 2/1 Lysenka/Yaroslaviv Val St, Kyiv

-

General Director

* The direct relatives of founder KINTO do not relate control above any legal entities

** s – securities traders, r – independent registrars, m – asset management companies, d – depositorys, c – custodians, t – trading platforms, i – independent appraisers of property, à – auditors, o – other economic society (if the particle of person or groups of the persons related to it in him exceeds 20%)

Information on legal entities in which proprietors of KINTO – legal entities are take part *

* Proprietors of KINTO – legal entities do not take participating in other legal entities-residents of Ukraine

Information on persons which own more than 20% the statutory fund of legal entities - founders of KINTO *

* Legal entities do not carry out control above KINTO.

Information on legal entities, in what KINTO takes part

¹

Registration Code (ªÄÐÏÎÓ) or identification code of the affiliated person

Character of legal entity in relation to which exists tie-up*

Registration Code (ªÄÐÏÎÓ)

legal entity in relation to which exists tie-up

Full name of legal entity in relation to which exists tie-up

Address of legal entity in relation to which exists tie-up

A particle is in the chartered capital, %

1

2

3

4

5

6

7

1

16461855

o

21465022

“Profit”, Ltd

2/1 Lysenka/Yaroslaviv Val St, Kyiv

99.99

 

 

o

32915716

"KINTO Invest, Ltd"

2/1 Lysenka/Yaroslaviv Val St, Kyiv

80.26

 

 

o

21561062

Joint-stock company “ÀÂÑ-3”

18 Chigorina St., Kyiv

27.00

 

 

o

21509009

“Alternativa-Invest”, Ltd

21a Moscowsky Blv., Kyiv

99.55

 

 

s

35138108

“Fundstore”, Ltd

30 Fizkulturi, Kyiv

20.00

 

 

o

00231573

Open Joint Stock Company “Sinelnikoviy resorniy zavod”

130 Lenina Str., Sinelnikove, Dnipropetrovsk region

5.37

 

 

o

01267194

Open Joint Stock Company “Kharkiv zavod ZBK-15”

299 Moscowsky Blv., Kharkiv

17.07

* s – securities traders, r – independent registrars, m – asset management companies, d – depositorys, c – custodians, t – trading platforms, i – independent appraisers of property, à – auditors, o – other economic society (if the particle of person in him exceeds 5%)

Information on the affiliated persons of KINTO President *

¹

Name of KINTO President and his direct relatives

Identification code

Character of legal entity in relation to which exists tie-up **

Registration Code (ªÄÐÏÎÓ) of

legal entity in relation to which exists tie-up

Full name of legal entity in relation to which exists tie-up

Location of legal entity in relation to which exists tie-up

A particle is in the chartered capital of the linked person %

Post is in the affiliated person

1

Oksanych Sergiy Mykhailovych

2040704877

³

32915716

"KINTO Invest, Ltd"

01034, 2/1 Lysenka/Yaroslaviv Val St, Kyiv

-

General Director

* The direct relatives of KINTO President do not relate control above any legal entities.

** s – securities traders, r – independent registrars, m – asset management companies, d – depositorys, c – custodians, t – trading platforms, i – independent appraisers of property, à – auditors, o – other economic society (if the particle of person or groups of the persons related to it in him exceeds 20%)

12. List of investment funds under Company’s management:

- "Dostatok" Fund (Interval Diversified Unit Investment Fund), registration code (ªÄвѲ) – 221004, Certificate ¹4 dated 11.03.2003.;

- "KINTO-Classical" Fund (Open-end Diversified Unit Investment Fund), registration code (ªÄвѲ) – 211045, Certificate ¹45 dated 11.05.2004.;

- "Narodny" Fund (Interval Diversified Unit Investment Fund), registration code (ªÄвѲ) - 221396, Certificate ¹396 dated 27.06.2006.;

- “KINTO Capital" (OJSC, Closed-end Non-Diversified Corporate Investment Fund), registration code (ªÄвѲ) – 132073, Certificate ¹73 dated 05.08.2004.;

- “Synergy Bond” Fund (OJSC, Closed-end Non-Diversified Corporate Investment Fund), registration code (ªÄвѲ) - 132100, Certificate ¹100 dated 22.12.2004.;

- “Synergy Real Estate” Fund (OJSC, Closed-end Non-Diversified Corporate Investment Fund), registration code (ªÄвѲ) - 132194, Certificate ¹194 dated 29.07.2005.;

- “Synergy-3” Fund (OJSC, Closed-end Non-Diversified Corporate Investment Fund), registration code (ªÄвѲ) - 132354, Certificate ¹354 dated 14.04.2006.;

- “Synergy-4” Fund (OJSC, Closed-end Non-Diversified Corporate Investment Fund), registration code (ªÄвѲ) - 132636, Certificate ¹636 dated 03.05.2007.;

- “Synergy-5” Fund (OJSC, Closed-end Non-Diversified Corporate Investment Fund), registration code (ªÄвѲ) - 132808, Certificate ¹808 dated 15.10.2007.;

- “Synergy-7” Fund (OJSC, Closed-end Non-Diversified Corporate Investment Fund), registration code (ªÄвѲ) - 1321029, Certificate ¹1029 dated 11.04.2008.

Section B. Characteristics of the Unit Investment Fund

1. Name – Open-End Diversified Unit Investment Fund “KINTO-Classical” (“The Fund”).

2. Registration code (ªÄвѲ) – 211045.

3. Date and the Number of the Certificate on receiving registration code (ªÄвѲ) – May 11, 2004, ¹45.

4. Time of the investment certificates redemption – specified by the Fund’s Regulations.

5. The Fund is recognized as such, that satisfies the demands about the minimum amount of assets by Resolution of State Securities and Stock Market Commission of Ukraine # 303 of 14 July 2004.

6. Information on the Chairman and Fund's Supervisory Board:

Head of the Supervisory Board – Zaychuk Sergiy Valentynovytch

Member of the Supervisory Board – Schokin Rostyslav Georgievytch

Member of the Supervisory Board – “Knyga Roda” Ltd.

Section C. Fund’s Regulations

These Regulations for the Open-End Diversified Unit Investment Fund “KINTO-Classical” of the Open Joint Stock Company “KINTO” (“Regulations”) are based on the following Ukrainian laws: “On Securities and Stock Exchange”, “On the National Depositary System and Electronic Transactions With Securities in Ukraine”, “On Collective Investment Institutions (unit and corporate investment funds)” and Rulings by the State Securities and Stock Market Commission (“Commission”). These Regulations aim to regulate creation and functioning of the Open-End Diversified Unit Investment Fund “KINTO-Classical” of the Open Joint Stock Company “KINTO” (“the Fund”).

1. Full name of the Fund – Open-End Diversified Unit Investment Fund ”KINTO-Classical”

2. Information on the asset management company:

2.1. Full name – Open Joint Stock Company “KINTO” (“the Company”)

2.2. Registration Code (ªÄÐÏÎÓ) – 16461855

2.3. Location - 26 Lesya Ukrainka Blvd., Kyiv, Ukraine

2.4. Series, number and date of the License to engage in the professional activities on the stock market and asset management: ÀC ¹020507 as of January 27, 2006

2.5. President – Oksanych Sergiy Mykhailovych

2.6. Tel: (044) 246-73-50

2.7. Fax: (044) 235-58-75

2.8. E-mail: k³nto@k³nto.com.

3. Procedure for Establishing, Responsibilities, Activities and Composition of the Fund’s Supervisory Board

3.1. The Fund’s Supervisory Board (“Supervisory Board”) is composed of 3 (three) members elected from the number of Fund’s investors (“Investors”). The Supervisory Board’s objective is to supervise the Fund’s investment declaration implementation, safekeeping of the Fund’s assets, registration of the nominal securities owners, Fund’s audit and Fund’s assets valuation.

3.2. Any Fund’s investor could be elected as a member of the Supervisory Board in case he (she) owns not less than 1 000 (one thousand) investment certificates of the Fund.

3.3. Among those, who meet the criteria mentioned in paragraph 3.2 of these Regulations, the priority-driven right to become members of the Supervisory Board have those Investors, who own the largest number of the Fund’s investment certificates.

3.4. The Supervisory Board is elected annually.

3.5. The Company on the date of January 20 decides on the Investors, who, according to the paragraph 3.2. of these Regulations have the right to enter the Fund’s Supervisory Board, and within 5 (five) working days from the mentioned date sends to these Investors by the recommended letter a proposal to become member of the Fund’s Supervisory Board.

3.6. The answers on proposal to enter the Supervisory Board are accepted by the Company during 15 (fifteen) working days from the date despatched of this proposal, mentioned in paragraph 3.5. of these Regulations.

3.7. The Company within five working days (starting from the expiry date of the accepting answers on proposals to enter the Supervisory Board) sends by the recommended letter to those, from whom answers were received:

- Notification that the Investor has become a member of the Supervisory Board;

or

- Notification that according to the paragraph 3.1. and 3.3. of these Regulations the Investor has not become a member of the Supervisory Board.

3.8. The Company sends invitations not later than 10 (ten) working days before the Board’s meeting to be held.

3.9. An article on elections of the Fund Supervisory Board’s Head and a Secretary is required to be on the first Fund Supervisory Board meeting’s agenda. An article on elections of the Head of the Supervisory Board is required to be the first point on the Board meeting’s agenda.

3.10. All Supervisory Board’s members present at the meeting elect the Head of the Fund’s Supervisory Board though a majority. The Head of the Supervisory Board could be re-elected anytime.

3.11. The Head of the Supervisory Board organizes Board’s work, calls meetings of the Supervisory Board, presides over Board’s meetings and keeps minutes. If the Head of the Supervisory Board could not participate at the Board’s meeting, another Supervisory Board’s member acts on behalf of the Head according to the decision taken by the members of the Board.

3.12. Meeting of the Fund’s Supervisory Board could also be called on the request of a member of the Supervisory Board, an auditor (auditing company), Fund’s custodian or the Company itself. An initiator, who called the Fund Supervisory Board’s meeting, is required to inform members of the Board by a written letter specifying date, time, location and agenda of the Board’s meeting in not less than 10 (ten) working days.

3.13. The Fund Supervisory Board is authorized to take decisions on the agenda issues only if two thirds of Board’s members are present at the meeting.

3.14. Fund Supervisory Board’s terms of reference include:

- Elections of the Head and Secretary of the Supervisory Board;

- Ratification of amendments suggested by the authorized Company’s body to the Fund’s Regulations.

- Ratification of amendments to the Fund’s investment certificates issue prospectus;

- Approval of decision on discontinuing agreements with the custodian, registrar and auditor (auditing company);

3.15. Each Fund Supervisory Board’s member has one vote during the Board’s meeting.

3.16. Majority present at the meeting makes Fund Supervisory Board’s decisions. The vote of the Head of the Fund’s Supervisory Board or his representative is conclusive.

3.17. Minutes of the Fund Supervisory Board’s meeting should be finalized in no more than 5 (five) working days after the meeting was held. Minutes should include the following information about the meeting:

- Location and date;

- List of attendees;

- Agenda;

- Issues to be voted on, vote results and decisions taken. The Head and a Secretary of the Board sign the Fund Supervisory Board’s Minutes.

3.18. The Fund’s investor could participate at the Supervisory Board directly or act through a representative, authority of whom should be confirmed in accordance with the current legislative norms.

3.19. If, as a result of alienation of the Supervisory Board’s member’s Fund’s investment certificates, the number of his/her investment certificates has become less than the number mentioned in the paragraph 3.2 of these Regulations, such a member of the Fund Supervisory Board loses his/her membership. At the same time, the number of Board’s members is less than required in the item 3.1 of these Regulations, so the Fund Supervisory Board’s meeting could not be held until the minimum required number of members of the Supervisory Board is reached. The Company’s Supervisory Board temporarily acts as the Fund’s Supervisory Board until the Fund’s Supervisory Board is formed.

4. The Procedure of the Net Asset Value and Investment Certificates Placement (Redemption) Price Determination.

4.1. The Fund's net asset value is determined according to the procedure stipulated by the "Regulations on determination of collective investment institutions net asset value" (unit and corporate investment funds) (“Regulations”). In case the changes are made to these Regulations or in case the regulative acts on changes in the procedure of net assets value determination are approved, the net value of the Fund's assets is determined according to the requirements of legislature in force and corresponding regulative documents.

4.2. In calculating the Fund's net asset value, the market value of the Fund's securities traded at more than one organized market is valued by the lowest of the last quotations, determined at each market for previous year, taking into account the criteria set by the Regulations.

4.3. The Fund's net asset value does not include the value of securities, the issuance registration of which has been cancelled in accordance with the procedure established by legislature.

4.4. Securities, the circulation of which has been terminated, are included in the Fund's net asset value calculation at the rate of 75% of their book value.

4.5. In calculating the Fund's net asset ordinary value, equity is valued by the Company:

4.5.1. At the price of the last market transaction, if it simultaneously complies with the following requirements:

4.5.1.1. Total sum of the transaction was not less than UAH 5,000 (five thousand);

4.5.1.2. The transaction was accomplished in no more than 30 (thirty) calendar days before the valuation was made;

4.5.1.3. The total volume of market transactions for 30 (thirty) calendar days that precede the day of the transaction completion was not less than UAH 10,000 (ten thousand);

4.5.2. At the last book value - in all other cases.

4.6. When calculating the net asset value of the Fund’s assets, the valuation of fixed-income securities is made by the Company:

4.6.1. At the price of the last market transaction, if it simultaneously meets the following requirements:

4.6.1.1. The transaction was completed at the day when the valuation was made;

4.6.1.2. The transaction amount is not less than UAH 10,000 (the thousand);

4.6.1.3. Total amount of market transactions during 30 (thirty) calendar days which precede the day of the transaction completion was not less than UAH 100,000 (a hundred thousand);

4.6.2. In all other cases – by the formula:

where:

V- Calculated value of the security;
Ñj- Payment (coupon, dividend, depreciation etc) in period j;
N- Nominal or depreciated value of the security;
dj- Number of days until the 1st, 2nd….k payment, from the date of calculation;
dn- Number of days until the maturity (redemption) of the security;
yM- Yield to maturity, calculated by the formula:

where:

P – last market transaction price (if this transaction meets the requirements stipulated in items 5.5.1.2. and 5.5.1.3. of the Regulation) or the price of purchase of the security (in case of absence of market transactions or if those do not meet the mentioned requirements );

Ci – payment (coupon, dividend, depreciation etc) in period i;

di – number of days until the 1st, 2nd….n payment, from the date of calculation.

4.7. In calculating the Fund's net asset value calculated value of the Stock marcet's instrumens by the formula:

, where:

V – calculated value of the security;

P – price of purchase of the security;

R – price of the maturity (redemption) of the security;

di – number of days from the date of purchase of the security until the date of calculation;

d – number of days from the date of purchase of the security until the maturity (redemption) of the security.

4.8. Market transaction is the transaction realized on the organized exchange and the price for which at the moment of its execution is between the highest bid and lowest ask.

4.9. The company calculates the net asset value of the Fund:

- Before the Commission recognizes the Fund as such that meets the minimum asset requirements set up for unit investment funds by current legislature – at the end of the last working day of the calendar month and when the Company is requested by the Commission to submit the report on the Fund’s activities;

- After the Commission recognizes the Fund as such that meets the minimum assets requirements – at the end of each working day.

4.10. The calculated value of the investment certificate is determined as the ratio of the Fund’s total net asset value to the number of the Fund’s investment certificates outstanding on the date of calculation.

4.11. The value of the Fund's investment certificates acquired by the investor (redeemed from the investor) is determined on the basis of the calculated value of the Fund's investment certificates on the day when the investor submits application (for acquiring or redeeming Fund' investment certificates).

5. The Procedure of Determination of Company's Fee and Covering the Expenses Incurred by the Fund

5.1. Company’s fee is determined depending on the net asset value of the Fund.

5.2. The Company 's Fee is accrued and is paid out monthly by cash assets.

5.3. Determination of the net asset value for calculation of the Company’s fee is made on the basis of information on average monthly net asset value of the Fund as of the end of the last working day of the corresponding month.

5.4. Finalization of the Company’s annual fee is made on the basis of the average annual net asset value calculation taking into account average monthly net asset value estimates.

5.5. Company’s fee may not exceed 5 (five) percent of annual average Fund's net asset value.

5.6. Other fees and expenses paid from the Fund's assets:

- Fee to the Fund's custodian;

- Fee to the Fund's registrar;

- Fee to the Fund's auditor;

- Fee to securities traders;

- Operating expenses incurred in connection to the functioning of the Fund, including:

- Registration services (state duties and other similar services);

- Manufacturing of forms for the Fund's securities;

- Payment for bank servicing;

- Notary services;

- Payment for publications of the required information on the Fund's activities;

- Informational services (payment for acquiring information regarding the issuers in the securities of which the Fund has allocated or plans to allocate its assets; payment for other information required for collective investment);

- Advertising services associated with circulation of the Fund's securities;

- Expenses for servicing the Fund's participants and circulation of securities, including expenses on the interest payments for loans, received by the Company to purchase securities (taking into consideration limitations set up by the current Ukrainian legislature).

5.7. Expenses specified in item 5.6 of the Regulations may not exceed 5 (five) percent of annual average Fund's net asset value during the fiscal year.

5.8. In case the Company in its own account pays expenses related to the redemption of investment certificates when the Fund is incapable to do this. The associated with the redemption costs should be covered at the expense of the Fund’s assets later.

5.9. The Company at its own account pays for other expenses and expenses exceeding the amount specified by legislation.

6. Procedure and Terms of the Investment Certificates Redemption by the Company

6.1. The requirement of the Fund’s investment certificates owner (“The Owner”) to sell Fund’s investment certificates is submitted in a form of the Application on the sale of the Fund’s investment certificates (“Application”).

6.2. Application is submitted by the Owner directly to the Company or securities trader - an agent on the placement and redemption of the Fund investment certificates (“the Agent”) – list of which could be found at the Fund’s prospectus. The Agent acts on behalf, on account and in the interests of the Company.

6.3. Application is irrevocable.

6.4. Applications are accepted daily starting from the day when the Commission recognizes the Fund as such that meets the minimum assets requirements specified by the law for unit investment funds.

6.5. The agreement on the redemption of investment certificates is concluded with the owner simultaneously with the acceptation of the Application. Settlement with the Owner is made during 7 (seven) working days from the day when the mentioned above agreement was concluded with the Owner on the Owner’s direct request. In case the Owner does not contact the Company to receive the payment in the mentioned timeframe, payment will be deposited with the notary’s office (private notary) at the Owner’s expense by the time when the notary will transfer payment to the Owner.

6.6. Redemption of Fund’s investment certificates is made at the same price for all investors. The price is determined for the day when the Owner submitted the Application compliant with the net asset value.

6.7. The redemption price could be decreased only by the amount equaling agent’s commission.

7. Investment targets.
Investment targets are determined in the Fund's Investment Declaration, which is a constituent part to the Regulations (See: Investment Declaration, Attachment 1 to the Regulations).

Attachement 1
to the Regulations
of the Open-End Diversified
Unit Investment Fund “KINTO-Classical”
of the Open Joint Stock Company “ʲNTO”


INVESTMENT DECLARATION
of the Open-End Diversified Unit Investment Fund
“KINTO-Classical”
of the Open Joint Stock Company “ʲNTO”

1. Full name of the fund - Open-End Diversified Unit Investment Fund “KINTO-Classical”.

2. The Fund was founded according to the decision of the general shareholders’ meeting of the Open Joint Stock Company “KINTO” (Minutes No.3 dated 29 December, 2003).

3. The objective of the Fund's activity is raising funds from investors and increasing the value of capital through collective investment activities.

4. The Fund’s assets comprise securities (Ukrainian and foreign, state securities guaranteed by the Cabinet of Ministers of Ukraine and municipal) and money market funds, including funds in foreign currency.

5. Not less than 10 (ten) percent of the Fund’s assets are comprised of cash that is deposited on special accounts.

6. The Fund assets may not include:

- Securities issued by the Company, custodian, registrar, the Fund's audit company and their affiliated persons;

- Securities of foreign countries and foreign legal entities allowed to be traded at less than two major foreign stock exchanges or trading-informational systems, the list of which is determined by the State Securities and Stock Market Commission;

- Securities of other collective investment institutions;

- Derivatives, unless stipulated otherwise by regulative acts of the State Securities and Stock Market Commission;

- Real estate, alienation of which is prohibited by Ukrainian legislature.

7. Structure of the Fund’s assets should correspond to all requirements stipulated by the current legislature on the structure of assets of the diversified unit investment fund.

8. During the asset management process, the Company adheres to all requirements stipulated by the current legislature on the structure of assets of the diversified unit investment fund.

Section D. Information on the Issue of Fund’s Investment Certificates

1. Total value of the Fund’s investment certificate - UAH 75,000,000 (seventy five million).

2. Number of the Fund’s investment certificates - 750,000 (seven hundred fifty thousand).

3. Nominal value of the Fund’s investment certificate - UAH 100 (one hundred).

4. Form of the Fund’s investment certificates – documentary.

5. Type of the Fund’s investment certificates - nominal.

6. Fund’s investment certificates could be purchased at the address:

2/1 Lysenka/Yaroslaviv Val str., Kyiv.

7. The planned selling rate of Fund’s investment certificates:

Investment certificates are placed at the price of Fund’s net asset value calculated per one Fund’s investment certificate in circulation. The price of the Fund’s investment certificates increases by the amount of the commission fee for the agent placing and redemption the investment certificates (“the Agent”).

8. Rights of Fund’s investment certificates Owners:

- Hand over Fund’s investment certificates for redemption;

- Become a member of the Fund’s Supervisory Board according to the Fund’s Regulations;

- Other rights stipulated by current legislative norms.

9. Calculated Fund’s net asset value is offered for public attention at the Company’s official web site www.kinto.com.

10. Minimal amount of investment certificates to be bought by the Investor (excluding Agent’s fee) is UAH 1,000 (one thousand).

11. The procedure of shares placement and payment:

11.1. Agent is responsible for the placement of the Fund’s investment certificates.

11.2. A person who is willing to purchase Fund’s investment certificates (“Investor”) should submit an Application on the investment certificates purchase (“Application on purchase”) directly or through the representative, who acts on behalf of the Investor according to the appropriately formalized power of attorney, to the Agent and on the address mentioned above.

11.3. The Application on purchase is irrevocable.

11.4. Applications on purchase are accepted each working day from 1300pm to 1600pm (when the payment for investment certificates in made in cash) and to 1700 pm (when the payment is made though a cashless settlement).

11.5. Right after the Application for purchase is accepted, the Company signs an Agreement with the Investor on the Fund’s Investment Certificates Purchase. If the Investor is married at the time when the Agreement is concluded, the Investor’s spouse should give his (her) consent on signing the mentioned Agreement. Such a consent should be presented in the written form:

- Simple written form (Investor’s spouse should be physically present during the Agreement singing process);

- Notarized written form (presence of the Investor’s spouse is not required during the process of signing the Agreement). The requirements to the spouse’s written consent could be found at the Agreement on purchase.

11.6. While purchasing Fund’s investment certificates, the Investor is joining the Fund while signing an Agreement on the investment certificates purchase on the following conditions:

1) The Investor transfers payment for Fund’s investment certificates to the Company. Funds received from the Investor are allocated on the stock market on the company’s discretion according to the directions described at the Investment Declaration;

2) The Investor gives his (her) consent to the Company to manage Fund’s assets by signing an Agreement on Purchase of Fund’s Investment Certificates. Fund’s assets are comprised of securities and cash, which form the pool of money created as a result of collective investment;

3) The Company’s authority on owning and managing Fund’s assets are specified at the Agreement on purchase, Fund’s Regulations and current legislative norms;

4) Sale of all Fund’s investment certificates owned by the Investor relieves the Investor from any legal responsibility to the Company;

11.7. The Agent's Front-end Commission increases the price of the Fund's investment certificates by:

- 1% - in case the total value of the Fund's investment certificates (without the Agent's Commission) purchased by Investor is UAH 5,000 (five thousand) and more;

- 2% - in case the total value of the Fund's investment certificates (without the Agent's Commission) purchased by Investor is less than UAH 5,000 (five thousand);

11.8. The payment for investment certificates is made to the Agent’s cash desk or on the Agent’s account through the bank transfer.

11.9. The payment for Fund’s investment certificates is made by the Investor:

- In case of the payment in cash: on the date of the corresponding Agreement conclusion;

- In case of the non-cash payment: not later then during the next working day following the day of signing an Agreement.

11.10. The Investor’s name is entered into the register of the Fund’s investment certificates owners during 7 calendar days from the day the payment for investment certificates was made.

12. Fund’s Investment Certificates redemption and payment procedure:

12.1. Redemption of Fund’s investment certificates is made through the Agent.

12.2. The Owner of Fund’s investment certificates (“the Owner”) directly or through the representative, who acts on the basis of the duly formalized power of attorney, submits an Application for Sale of Fund’s investment certificates (“Application for sale”) for Agent on the address mentioned above.

12.3. The Application for sale submitted by the Owner is irrevocable.

12.4. Applications are accepted each working day from 13pm to 17pm.

12.5. After the Application for sale is submitted, the Agreement on redemption of investment certificates is concluded with the Owner.

12.6. Settlements with owners of Fund’s investment certificates are made through the transfer from the Agent’s cash desk or through the bank transfer on the Owner’s bank account.

12.7. The price of the Fund’s investment certificate is reduced by the amount of the Agent’s commission:

- 1% – in case the total value of the Fund's investment certificates (without the Agent's Commission) for sale by Investor is UAH 5,000 (five thousand) and more;

- 2% – in case the total value of the Fund's investment certificates (without the Agent's Commission) for sale by Investor is from UAH 1,000 (one thousand) inclusive to UAH 5,000 (five thousand);

- 4% – in case the total value of the Fund's investment certificates (without the Agent's Commission) for sale by Investor is less than UAH 1,000 (one thousand).

At that, if the settlement with the Investor is made through the Agent’s cash desk, Agent’s commission will increase by the amount of the bank’s fee for the cash withdrawal.

12.8. The payment for the Investor on the Fund’s investment certificates redemption is made during 7 calendar days from the day the Application for sale was submitted. In case the Owner does not contact the Company to receive the payment in the mentioned timeframe, payment will be deposited with the notary’s office (private notary) at the Owner’s expense by the time when the notary will transfer payment to the Owner.

13. Rights of Fund’s investment certificates Owners:

- Hand over Fund’s investment certificates for redemption;

- Become a member of the Fund’s Supervisory Board according to the Fund’s Regulations.

14. If the Commission declares the issue of the Fund’s investment certificates invalid, the Company takes the responsibility to return collected money to investors in the time frame that is specified by the law.

Section E. Information on the Previous Issue of Fund’s Investment Certificates

1. Full name of the fund - Open Diversified Unit Investment Fund “Classical”

2. Nominal value of the Fund’s investment certificate - UAH 100 (one hundred).

3. Number of the Fund’s investment certificates - 250,000.00 (two hundred fifty thousand).

4. Total value of the Fund’s investment certificates issue – UAH 25,000,000.00 (twenty five million).

5. Type of the Fund’s investment certificates - nominal.

6. Form of the Fund’s investment certificates – documentary.

7. Date and the Number of the Certificate of Issuance of the investment certificates - ¹147 as of May 24, 2005

8. Information about the placement of the Fund’s investment certificates:

8.1. among individual entities – 203,455.00 or 81,382%;

8.2. among legal entities – 46,545.00 or 18,618%.

Section F. Asset Management Company Fee

1. Asset Management Company’s fee is 3% of the Fund’s net asset value.

2. Procedure of the Asset Management Company’s fee determination and payment is specified by Regulations.

Section G. Information on Expenses Compensated From the Fund's Assets

Spending compensated at the expense of the Fund's assets is specified in the Fund's Regulations.

Section H. Information on the property independent appraiser

The Investment Declaration does not stipulate investments in real estate.

Section I. Information on the Registrar

- Name - "NOTADA", Ltd.

- Code ªÄÐÏÎÓ - 19116308.

- Location - 2/1 Lysenka/Yaroslaviv Val str., Kyiv.

- Telephone - (044) 246-73-51.

- Series, number and date of issue of the License on the activity to register owners of ordinary shares - ÀB ¹189805 dated 29.11.06.

- Term of the License - until 12.10.10.

Section J. List of Stock Exchanges and OTC Markets, Where Fund’s Investment Certificates Are Placed

Fund’s investment certificates are not placed on the stock exchange or over-the-counter market.

Section K. Information on the Securities Trader Involved into Fund’s Investment Certificates Placement and Redemption

- Name - "KINTO", Ltd".

- Code ªÄÐÏÎÓ - 19263860.

- Location - 2/1 Lysenka/Yaroslaviv Val str., Kyiv.

- Telephone - (044) 246-37-31.

- Series, number and date of issue of the License on securities issuance and circulation - ÀÂ ¹189785 dated 20.11.06.

- Term of the License - until 09.09.10.

Section L. Information on the Custodian

- Name – “Ukrsotsbank”;

- Code ªÄÐÏÎÓ – 00039019;

- Location – 29, Kovpaka str., Kyiv;

- Phone – (044) 230-32-43;

- Fax – (044) 230-32-57;

- Series, number and date of issue of the License on securities issuance and circulation – AB ¹376969 as of 13.10.07;

- Term of the License – valid until 13.10.12.

Section M. Information on the Auditor

- Name – Auditing Company “Ukraudit XXI”;

- Code ªÄÐÏÎÓ – 22964908;

- Location – 3 Nekrasivska str, Kyiv;

- Phone – (044) 235-78-58;

- Fax – (044) 235-78-55;

- Number and date of issuance of the registration certificate – 0701;dated 26.01.01;

- Term of the Certificate – 15.12.10;

- Number and date of issuance of the Certificate about including to the register the auditor to conduct verifications of public accountants of the financial institutions on professional stock market - ¹120, Certificate AB 000105 dated 22.02.07;

- Term of the Certificate - 15.12.10.

 
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