Fond Investment Strategy
The fund is established for making investments with the state contribution amounts paid for the participants. The fund invests at least 75% of the fund portfolio in borrowing instruments, profit sharing certificates or lease certificates issued in TRY by the Undersecretariat of Treasury. Additionally, the fund can also invest in the shares within BIST 100 index or BIST participation index, time deposit and participation accounts in TRY, borrowing instruments issued by banks provided that they shall be traded in stock exchange market and lease certificates issued by asset leasing firms having banks as the source entity, up to the limits specified in the relevant legislation. Reverse repurchase agreements executed at Borsa Istanbul repo-reverse repo market can be included in the fund in compliance with the relevant legislation and fund assets can be invested at Takasbank market.
Money and Capital Market Instruments Included in Fund Portfolio
Following restrictions shall be observed for Fund management, with the provisions of the relevant Directive being reserved.
|ASSET TYPE||MINIMUM %||MAXIMUM %|
|Borrowing instruments, revenue sharing certificates or lease certificates issued in TRY by the Undersecretariat of Treasury||75||100|
|Time deposit and participation accounts in TRY, borrowing instruments issued by banks which are traded in stock exchange market or lease certificates issued by asset leasing firms having banks as the source entity||0||15|
|Shares within BIST 100 index or BIST participation index||0||15|
|Borsa İstanbul Reverse Repo and Takasbank Money Market Transactions||0||1|
Following portfolio restrictions are applied to fund's management:
a) The amount to be invested as deposit or participation account in one single bank cannot exceed 3% of fund portfolio.
b) Max. investment allowed in borrowing instruments and lease certificates issued by one single bank is 1,5% of of fund portfolio.
c) Max. investment allowed in one single stock is 1% of fund portfolio.
The fund portfolio is mainly comprised of domestic government bonds. Fund management assumes exposure to interest rate, inflation rate and market risks. Interest rates, inflation rates and changes in stock market influence the fund's yields. The fund is exposed to credit and liquidity risks due to investments in public and private sector borrowing instruments and stocks. Fund management uses diversification for risk protection and risk minimization is aimed through risk diversification.
96% IIMA Whole Bond Index + 1% IIMA O/N Repo Indices Gross + 1% BIST 100 Index + 1% IIMA 1 Month Indicator Deposit Index (TRY) + 1% IIMA Private Sector Bill Index Fixed
- Please click here to view the By-Laws of AXA Contribution Fund
- Please click here to view the Prospectus regarding AXA Contribution Fund
- Please click here to view the AXA Contribution Fund Introductory Brochure
- Please click here to view the Public Disclosure Form