NOVA Money Market

NOVA Money Market

Basic information

Fund type Investment Fund of Qualified Investors
Investment objective Money market instruments, financial instruments
Depository Česká spořitelna, a.s.
Auditor PROXY - AUDIT, s.r.o.
Address V Celnici 1031/1, Prague 1, 110 00
Established January 20, 2016, reg. in the Commercial Register
Identif. No 046 99 017
Sub-funds NOVA Money Market – Sub-fund 1
NOVA Money Market – Sub-fund 2
NOVA Money Market – Sub-fund 3
NOVA Money Market – Sub-fund 4
Fees
Entry fee max. 3 %
Exit fee 0 %
Management fee 2,7 % p. a.
Performance fee 30 % above 6 % IRR
Target return 5-6 % p. a.

Investment strategy Subfund 3

The objective of the investment policy of Subfund 3 is to achieve long term capital growth and appreciation of assets above the level of yield of bank deposits, particularly by means of investments in debt securities, including notes of legal entities and individuals, term deposits and other financial instruments, such as securities issued by collective investment funds, repo transactions and financial derivatives.
As regards selection of debt securities, Subfund 3 is not limited by the issuer category, the level of modified duration of the bonds portfolio, or requirements for the quality of held bonds (rating); however, Subfund 3 shall primarily acquire money market instruments denominated in euros or provide loans to companies belonging to the Arca Capital Group, which is profiled in the market particularly in the field of private equity with a focus on both real estate and venture capital, where it invests its funds particularly by means of capital entries.

Investment strategy Subfund 4

The objective of the investment policy of Subfund 4 is to achieve long term capital growth and appreciation of assets above the level of yield of bank deposits, particularly by means of investments in debt securities, including notes of legal entities and individuals, term deposits and other financial instruments, such as securities issued by collective investment funds, repo transactions and financial derivatives.
As regards selection of debt securities, Subfund 4 is not limited by the issuer category, the level of modified duration of the bonds portfolio, or requirements for the quality of held bonds (rating); however, Subfund 4 shall primarily acquire money market instruments denominated in Czech Crowns or provide loans to companies belonging to the Arca Capital Group, which is profiled in the market particularly in the field of private equity with a focus on both real estate and venture capital, where it invests its funds particularly by means of capital entries.

Risk Profile

Information commitment

Performance

Net appreciation (audited) for 2017 (from 02/2017) - Sub-Fund 3: 5.73 % p.a.

Net appreciation (audited) for 2017 (from 02/2017) - Sub-Fund 4: 5.48 % p.a.

Net appreciation (audited) for 2018 - Sub-Fund 3: 5.97 % p.a.

Net appreciation (audited) for 2018 - Sub-Fund 4: 6.48 % p.a.

Actual value of the Sub-fund 3 investment share as of 11/8/2019: 1.0145 CZK
Actual value of the Sub-fund 4 investment share as of 11/8/2019: 1.0192 CZK

Performance as of July 2019 - Sub-fund 3

1 month: 0.44%
6 months: 3.13 %
1 year: 6.32 %
YTD: 3.63 %

Performance of Investment shares - Sub-fund 3

Date Investment share value (EUR) NAV (EUR)
11.8.20191.01454 765 846
4.8.20191.01324 709 764
28.7.20191.01194 915 601
21.7.20191.01084 777 351
14.7.20191.00944 771 090
7.7.20191.00804 764 161
30.6.20191.02314 835 734
23.6.20191.02184 829 596
16.6.20191.02034 933 941
9.6.20191.01924 928 366
2.6.20191.01794 882 278
26.5.20191.01664 876 026
19.5.2019 1.0153 4 869 784
12.5.2019 1.0142 4 864 175
5.5.2019 1.0129 4 907 986
28.4.2019 1.0116 4 845 689
21.4.2019 1.0102 4 838 854
14.4.2019 1,0089 4 832 359
7.4.2019 1.0075 4 826 060
31.3.2019 1.0223 4 896 598
24.3.2019 1.0212 4 687 393
17.3.2019 1.0192 4 678 373
10.3.2019 1.0180 4 672 671
3.3.2019 1.0166 4 607 983
24.2.2019 1.0153 4 602 297
17.2.2019 1.0140 4 697 353
10.2.2019 1.0128 4 691 859
3.2.2019 1.0116 4 666 224
27.1.2019 1.0105 4 660 955
20.1.2019 1.0094 4 485 444
13.1.2019 1.0080 4 479 474
6.1.2019 1.0067 4 473 770

Performance as of July 2019 - Sub-fund 4

1 month: 0.50%
6 months: 3.17 %
1 year: 6.35 %
YTD: 3.70 %

Performance of Investment shares - Sub-fund 4

Date Investment share value (CZK) NAV (CZK)
11.8.2019 1.0192 481 362 562
4.8.2019 1.0178 480 718 132
28.7.2019 1.0165 480 076 849
21.7.2019 1.0153 463 407 041
14.7.2019 1.0140 462 808 171
7.7.2019 1.0127 462 215 216
30.6.2019 1.0271 468 793 030
23.6.2019 1.0241 464 948 958
16.6.2019 1.0228 463 814 038
9.6.2019 1.0216 463 248 994
2.6.2019 1.0203 462 668 578
26.5.2019 1.0190 455 996 872
19.5.2019 1,0181 424 013 468
12.5.2019 1.0167 423 424 369
5.5.2019 1.0155 421 489 198
28.4.2019 1.0141 420 921 520
21.4.2019 1.0128 420 353 668
14.4.2019 1,0115 419 809 909
7.4.2019 1.0102 419 268 679
31.3.2019 1,0247 425 323 065
24.3.2019 1.0231 421 641 952
17.3.2019 1.0219 421 124 732
10.3.2019 1.0207 412 001 977
3.3.2019 1.0193 429 971 644
24.2.2019 1.0181 429 470 666
17.2.2019 1.0171 403 537 024
10.2.2019 1.0158 413 034 955
3.2.2019 1.0146 410 527 799
27.1.2019 1.0133 407 987 060
20.1.2019 1.0122 404 751 423
13.1.2019 1.0109 404 236 750
6.1.2019 1.0096 403 732 937

Fund Management

The fund is managed by REDSIDE Fund Management, which was pursuant to Act 240/2013 Coll., on Investment Companies and Investment Funds granted the licence by the Czech National Bank to perform management and administration of investment funds. REDSIDE focus consists in providing professional management of qualified investors’ funds, including establishment of separate fund structures and their subsequent management and administration. The size of Assets Under Management (AUM) exceeded 200 million EUR in May 2016.

Regulation

The Fund is governed pursuant to Act No. 240/2013 Coll., on Investment Companies and Investment Funds and Act No. 256/2004 Coll., on Business Activities on the Capital Market. The compliance with the legislation and particular statutes is supervised by the Czech National Bank.

All investments are overseen by the Fund’s Investment Committee. In addition, the Fund is regulated by the Czech National Bank and the investments are under constant supervision of the financing banks.

Supervision: Czech National Bank (CNB)
Fund manager provides monthly report to the CNB on fund’s asset structure including accounts.

Manager: REDSIDE Fund Management
Was granted a licence by the CNB to perform management and administration of investment funds.

Depository: Česká spořitelna, a.s
Monitors, performs and reports money transaction in compliance with the law and fund’s statute.

Auditor: PricewaterhouseCoopers Audit, s.r.o.
Conducts an audit of financial statements and fund’s annual report once a year.

Asset Valuation Officer: from CNB list
Revaluation of the fund is carried out by an Asset Valuation Officer from CNB list independent of the investment company at least once a year.

More information on security through legislation/government guarantees

  1. Supervision: The Fund is supervised by the Czech National Bank. The Fund is managed by REDSIDE company, which provides CNB (Czech National Bank) with monthly reports on fund’s asset structure including accounts. In addition, it sends on regular basis quarterly reports to European Securities and Market Authority, which involves, above all, setting of internal control mechanisms and risk management.

  2. Professional management of the Fund: the Fund is managed by REDSIDE, Fund Management, which has been granted the licence by the Czech National Bank to perform management and administration of investments funds pursuant to Act No. 240/2013 Coll., on Investment Companies and Investment Funds.

  3. Depository: The Fund’s manager is unable to carry out any transactions with Fund’s financial means. The property of the Fund is in custody of a depository – a bank with a special licence. Not even the depository is allowed to freely use the Fund’s means (lend, pledge etc.). This property is kept on a special account that does not follow standard performance of bank’s operation. The depository also monitors whether the Fund is managed with professional and in compliance with the law and the Statute of the Fund. The main role of the depository consists in checking whether the unit certificates are issued properly and redeemed (bought back) pursuant to the law and Fund’s Statute, whether the value of the unit certificate is calculated in compliance with the law and statute, the way Fund’s asset valuation is carried out and whether the assets have been acquired in compliance with the law, including checks on incoming and outgoing payments. The depository of the Fund is Česká spořitelna, a.s

  4. Separation of Fund’s assets from investment company assets (China Wall): The assets of the company are separated from the investment company assets. Provided the investment company would go bankrupt, the assets remains unaffected and are transferred under the management of another company.

  5. Audit: Once a year, an audit of the Fund is carried out by PriceWaterhouseCoopers, which audits financial statements as well as the annual report of the Fund.

  6. Asset revaluation: Pursuant to the effective legislation, Act No. 240/2013 Coll., on Investment Companies and Investment Funds and the Statute of the Fund, the Fund is obliged to revalue its assets. The revaluation takes place at least once a year independent of the investment company and is carried out by a valuation officer from CNB approved list.

  7. Investment limits: The Fund has to adhere to the limits laid down by the law and Fund’s Statute. That is to prevent the risk of loss as a result of investing great volumes of financial means into one asset. The Fund is obliged to follow the legally binding investment limit per asset value of the Fund up to maximum 35 % of total fund capital. Fund manager: The Fund manager REDSIDE, Fund Management cooperates with the investment group Arca Capital in the area of portfolio management.

  8. Fund Manager: REDSIDE Investment Company