Fond Investment Strategy
At least 80% of the fund is allocated to stocks listed on the Istanbul Stock Exchange with a view to generating equity income. The fund aims to benefit from fluctuations in the national stock market as much as possible. The fund’s portfolio management trades in highly liquid stocks of companies that have high market value and growth potential in their respective industries.
Money Market and Capital Market Instruments to Which tho Fund's Portfolio is Allocated
The fund’s management must comply with the following restrictions, save for the provisions of the relevant Regulations.
|ASSET TYPE||MINIMUM %||MAXIMUM %|
|Stocks of Domestic Companies||80||100|
|Government Bonds and T-Bills||0||20|
|Domestic Private Sector Bonds||0||20|
|Reverse Repurchase Agreements||0||10|
|Time Deposits / Participation Cert. (TRY-FX)*g||0||20|
|Takasbank Money Market Transactions||0||10|
|Mutual Fund Participation Shares||0||20|
|Futures and Options Contracts||0||20|
|Venture Capital Investment Trusts/Funds||0||20|
* The amount to be invested in one single bank cannot exceed 6% of fund portfolio.
The fund’s portfolio may also be allocated to foreign currencies, precious metals, and option contracts executed on the basis of financial indicators and capital market instruments, warrants, forward contracts, financial futures contracts, and option contracts based on futures transactions in order avoid potential risks and/or for investment purposes. Any short position taken in relation to futures contracts may not in any case exceed the net value of the fund’s assets. Futures contracts included in the portfolio must be in line with the fund’s management strategy and comparison criterion.
By signing contracts in accordance with Article 11 of Communiqué Serial No. V, No. 65, Concerning Margin Trading, Short Sale and Lending and Borrowing of Capital Market Instruments, promulgated by the Capital Market Board, the fund may lend monies and securities in amounts up to 50% of its portfolio and also borrow monies and securities and short sell securities in amounts up to 10% of its portfolio any time, provided that such securities are held in safe custody by Takasbank. The term of any such borrowing or lending contract has to be limited to ninety business days. The fund’s portfolio may only lend monies and securities on the condition that a security in cash or in the form of government bonds or T-bills in an amount covering the full amount of such monies or the full value of such securities are deposited into the fund’s account with Takasbank. In case the value of such security drops below 80% of the market value of the money or securities lent for any reason, the portfolio manager asks the borrower to provide additional security to increase the security amount to the required level. Any such contract signed by the fund must include a clause giving the fund the right to terminate the contract unilaterally.
No security or instrument other those listed above may be included in the fund’s portfolio.
The fund’s portfolio consists predominantly of the stocks included in the ISE 100 Index. Depending on the stocks it invests in, the fund is susceptible to macro-economic risks, industry-related risks, company-related risks, and liquidity risks. Fluctuations in the stock market affect the fund’s revenues. For that reason, the fund’s management invests in diverse stocks and thus spreads and minimises such potential risks.
90% ISE 30 Index + 4% IIMA O/N Repo Indices Gross + 5% IIMA Bill Indices 91 Days + 1% IIMA 1 Month Indicative Deposit Index (TRY)
- Please click here to view the By-laws of AXA Stock Growth Pension Mutual Fund.
- Please click here to view the Prospectus regarding AXA Stock Growth Pension Mutual Fund.
- Please click here to view the AXA Stock Growth Fund Introductory Brochure.
- Please click here to view the Public Disclosure Form