Until 6 February 2012, a fixed investment funds switch fee applies and is calculated according to the following formula:
| Fees of switched funds | Switch fee |
|---|---|
| X1+Y1+X2+Y2 < 2 %. | EUR 14.48 (equivalent of LTL 50 in euros) |
| X1+Y1+X2+Y2 => 2 %. | EUR 86.89 (equivalent of LTL 300 in euros) |
Y1 – redemption fee of the fund being switched (according to prospectus);
X2 – subscription fee of the fund to which switching is executed (according to prospectus);
Y2 – redemption fee of the fund to which switching is executed (according to prospectus).
Starting 6 February 2012, a variable switch fee will apply and will be calculated as a percentage of the value of the switch deal. The size of the switch fee will equal the size of the redemption fee of the fund being switched. The fee may equal 0 to 2 percent depending on a given fund.
The procedure of order execution will be changed as well
To switch funds, you must have the relevant amount in euro available in your securities account. This amount will be booked for the payment of your switch fee.
The switch fee in euro to be booked will be calculated according to the following formula:
| owned fund units * fund unit price for day T-1 (in certain cases T-2), EUR * switch fee, % |
|---|
The formula above includes day T-1 (the day before) or day T-2 since at the time the order is placed the unit price of the fund on that day is not known yet.
The reservation is valid until the settlement day (normally day T+3). The precise size of the switch fee is determined on the settlement day when the execution price of the fund being switched is known.
If the amount of the switch fee is smaller than the amount booked, a smaller amount will be withdrawn and the remaining amount will stay on your account.
If the amount of the switch fee exceeds the amount reserved, the required amount will be withdrawn from your accounts or recorded as your debit claim.
1636 (Weekdays 8-19)