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Stock funds

Stock funds investing


The stock fund primarily invests in stock and other stock instruments (share rights, depositary receipts).

The stock fund shall meet at least one of the following conditions:

  • effective participation in the assets of the stock fund and other equity securities is at least 66%.
  • the fund primarily invests in stocks and other equity securities and has a benchmark that can be mapped into a portfolio of investments in which stocks and other equity securities account for at least 90%.

The following geographic specialisation categories are distinguished among stock funds:

1. Domestic market funds
2. European market funds
3. US Market Fund (USA)
4. The Asia-Pacific funds
5. Other funds (including, inter alia global funds, emerging markets and funds from other regions or without regional specialisation)

Geographical specialisation is determined on the basis of the origin of the issuers of securities in the fund's investment portfolio. The share of financial instruments issued by entities domiciled in a given country (item 1) or region (items 2-5) should constitute at least 66% of the fund's assets.

Which segments are the stocks funds divided into?


Irrespective of the geographical specialisation division, the stock funds shall be divided into following segments:

1) Universal funds
2) Index funds
3) Small and medium-sized companies' funds
4) Sector funds

A fund is classified as an index if it tries to reflect, either closely or approximately, changes in a particular stock market index, a certain number of times that index or changes reverse to changes in that index.

A fund is classified as a small and medium-sized company or sectoral fund if the stock of financial instruments related to the segment of small and medium-sized companies or a given sector accounts for at least 66% of the fund's assets.

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