Glossary | DUNAV FOND / NASLOVNA

Glossary

Voluntary pension fund management company (Company)
a company which organizes and manages voluntary pension funds.

Voluntary pension fund
a collective investment institution in which pension contributions are collected and invested in various types of assets with a view to generating revenue and reducing investment risk.

Custody bank
a bank which administers the account of the voluntary pension fund and renders other custody services for the account of the fund, and which, with respect to the assets of the voluntary pension fund, acts exclusively in line with the orders of the management company that are in conformity with the law and the fund´s prospectus.

Pension fund member
a domestic and foreign individual who, directly or via a pension plan organizer, joins the voluntary pension fund.

Pension plan organizer
an employer, association of employers, professional association or trade union organizing a pension plan and concluding a contract pertaining to the pension fund with the company.

Pension plan
a contract in favour of third parties, which constitutes an integral part of the voluntary pension fund, concluded between the organizer of the pension scheme and the company, subject to which the organizer undertakes to pay the pension contribution in favour of its employees, or members, and the management company invests collected funds.

Pension contribution
funds deposited to the voluntary pension fund by the contributor (individual or employer/union/association).

Contributor
a domestic and foreign legal entity and natural person who pays pension contribution for the account of a voluntary pension fund member, and who can be an employer, a third party or fund member, in conformity with the law.

Investment unit
accounting proportin to total net asset value of the fund.

Programmed payout
payment of accumulated funds from memeber's individual accounts for a minimum of one year period.

Prospectus of voluntary pension fund
a prospectus containing information enabling interested persons to obtain a clear picture about the fund and to make a decision on membership in the fund.

Abbreviated prospectus of voluntary pension fund
a prospectus used exclusively for advertising a voluntary pension fund, which must be harmonized with the content of its prospectus.

Fund's asset value
value calculated according to market value and representing a sum of values of securities from the fund´s portfolio, real estate in the fund´ownership and money deposits held by the fund in banks.

Fund's net asset value
value of assets less liabilities.

Annuity
a series of payments agreed in advance made at previously agreed intervals.

Portfolio
a set of securities in the fund´s ownership.

Portfolio diversifikaction
uinvestment of pension fund´s assets in various types of investments in order to minimize investment risk for a given yield level.

Accumulated funds
total value of assets accumulated in the pension fund.

Individual account
account of an individual member wherein the number of investment units paid by him over time is registered.

Funds accumulated on an individual account
number of investment units of a fund member multiplied by the value of investment units on a specific day, showing the sum owned by that individual member within a specific fund.

Yield of pension fund assets
funds earned during a specific period of time by investing fund assets in various types of investments.

Gross yield rate                                                                                                                                yield rate for pension fund assets before subtraction of fees.

Net yield rate
yield rate for pension fund assets after subtraction of all fees.
 

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