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Strategy

The fund
The Mutual Fund follows a balanced investment policy and is intended for investors who are looking for growth in real terms of the investments made by combining a stable income, provided by investments in fixed income securities, capital gains from investments in shares of public companies and are willing to take a moderate level of risk. The Fund strives to achieve an optimal balance between risk and return, as the portfolio structure will be changed depending on the market conditions and the attractiveness of the different classes of financial instruments.

Monthly Report for February 2020 (EN)

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Why choose Progress?

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Additional and non-taxable income The profits from mutual funds in Bulgaria are tax-free.
Professional Management Your capital will be managed from a professional team with years of market experience who follows on a daily basis not only the movements in the capital markets but also looks for investment opportunities.
Easy and fast, in real assets All assets of the fund are actually owned and held by an international depositary bank.
You can withdraw or add money at any time The time horizon for the best return is usually between 1 and 5 years. However, you can withdraw your money at any point of time.
There is no minimum investment There is no need to have a large sum of money in order to invest with us. We do not have a minimum investment threshold.
No purchase fees We do not have any purchase fees.

Performance

NAV per unit
on 06.08.2020
0.7060BGN
Purchase price 0.7060BGN
Redemption price 0.6989BGN
Net Asset Value 194484637.20BGN
Quantity of the
units outstanding
27547448.8204
Net Asset Value (NAV) per unit - BGN

 
  2016 2017 2018 2019 YTD
Return -2.24% 5.21% -1.68% 2.85% -3.09%
Standard Deviation 4.51% 6.15% 5.35% 5.31% 5.87%

Investment structure

Prices History

Useful information (FAQ)

How can I purchase units of mutual fund of Compass Invest JSC?

Units can be purchased every business day from 9.00 to 16.00hrs by signing a contact with the asset management company (AMC) and placing an order for purchase for the mutual fund wanted.

Where can I place an order?

Order can be placed in the office with address: Sofia, 19 George Washington str., fl. 2

Do I have the right to cancel an order? And how?

The client has the right to cancel an order. A placed order for purchase or redemption of units of Mutual Fund Progress, Mutual Fund Strategy, Mutual Fund Eurostability, Mutual Fund Plus and Mutual Fund Compass Funds Select-21 can be cancelled by the investor prior to the cutoff time at 16.00hrs on the day closest (Tuesday or Thursday) to the day on which the Net asset value (NAV) is calculated (Wednesday or Friday).
A placed order for purchase or redemption of units of Mutual Fund Compass Global Trends and Mutual Fund Compass Euroselect can be cancelled by the investor prior to the cutoff time at 16.00hrs on the same day.

What are the ways for payment of purchased units?

At the time of placing of the purchase order the investor shall make a payment of an amount corresponding to the value of the units to be purchased ​​as follows:
In cash – for amounts of up to BGN 5 000;

Via bank transfer:
Compass Global Trends
acct. IBAN BG98UBBS80021049850640, BIC UBBSBGSF for transfers in Bulgarian lev;
acct. IBAN BG11UBBS80021449718410, BIC UBBSBGSF for transfers in EUR;

Compass Euroselect
acct. IBAN BG19UBBS80021070626940, BIC UBBSBGSF for transfers in Bulgarian lev;
acct. IBAN BG08UBBS80021451679610, BIC UBBSBGSF for transfers in EUR;

Strategy
acct. IBAN BG04UBBS80021016659320, BIC UBBSBGSF;

Progress
acct. IBAN BG15UBBS80021016662420, BIC UBBSBGSF;

Eurostability
acct. IBAN BG96UBBS80021046635320, BIC UBBSBGSF for transfers in Bulgarian lev,
acct. IBAN BG60UBBS80021419783910, BIC UBBSBGSF for transfers in EUR;

Plus
acct. IBAN BG59UBBS80021056431240, BIC UBBSBGSF;

Compass Funds Select-21
acct. IBAN BG30UBBS80021070630040, BIC UBBSBGSF;

Details of payment: Purchase of units

What is the deadline for executing the order?

For purchase orders – within 7 business days of the order submission;
For redemption orders – within 10 business days of the order submission;

How can I request a redemption of units?

Redemption of units can be requested by placing an order every working day between 9:00hr. and 16:00hrs. at the office of Compass Invest JSC.

What are the possible options of payment of redemption proceeds?

Redemption proceeds will be paid out/credited as follows:
In cash – for amounts of up to BGN 5 000;
Via bank transfer;

Will I receive a confirmation of transaction execution?

The AMC shall as soon as practicable, but not later than the first business day following the execution of the order, provide the investor with a Confirmation of transaction execution (stating the confirmed price and the number of units that have been purchased by the investor) as per the requirements indicated by the investor: as a hard copy in the office of the management company or by mail, by fax or in electronic form by e-mail.

Are there any transaction charge/fees?

When purchasing units of the Funds expenses are not charged, except for Mutual Fund Plus and Mutual Fund Compass Funds Select-21 where the fees are 0,2%.
The following fees are paid by investors. These fees are included in the price of units of the respective fund as follows:
Compass Global Trends – 1.0% of the NAV per unit;
Compass Euroselect – 1.0% of the Nav per unit;
Compass Funds Select-21 – 0.2% of the NAV per unit;
Progress – 1.5% of the NAV per unit;
Strategy – 1.0% of the NAV per unit;
Eurostability – 0.5% of the NAV per unit;
Plus – 0.2% of the NAV per unit;

Are there any additional fees?

There are costs, which are deducted from the assets of mutual funds and hence they are indirectly borne by all unitholders. These costs represent the second component of expenses which need to be taken into account when investing in a mutual fund. The costs include remuneration of the management company and operating costs. The management fee is calculated as a percentage of the average annual net asset value of the fund as follows:
Compass Global Trends and Compass Euroselect – The management fee is calculated as a percentage of the yield achieved (success fee) and the methodology for its calculation is described in detail in the Prospectus and the Fund's General Rules.
Compass Funds Select-21 – 0.2%;
Progress – 2.8%;
Strategy – 2.4%;
Eurostability – 1.2%;
Plus – 1.2%

Operating expenses include charges of Central Depository JSC, the Bulgarian Stock Exchange, the Financial Supervision Commission, remuneration for the depositary bank and others.

Do I have to pay taxes?

Investors do not owe taxes on the income realized from transactions with units of mutual funds concluded on a regulated Bulgarian securities market, including the redemption on counter at the management company.
Unitholders can earn income from their investments in the fund in the form of capital gain (a positive difference between the selling price of the units and the price at which they were purchased).

Which is the Mutual Fund Depositary Bank?

Your money and securities are stored in the independent depositary bank – United Bulgarian Bank (Part of KBC Group). The Bank has its registered office: 89B Vitosha Blvd., Sofia and has license from the Bulgarian National Bank: 340 as of November 19, 1992
All Funds of Compass Invest JSC: Compass Global Trends, Compass Euroselect, Compass Funds Select-21, Progress, Strategy, Eurostability, Plus use a depositary bank United Bulgarian Bank (Part of KBC Group).

Which are the investment intermediaries (brokers)?

The following investment intermediaries (brokers) are authorized by the management company to execute transactions for the portfolios of funds: Citibank International PLC., Cowen International, Raiffeisenbank (Bulgaria) EAD, Unicredit Bulbank JSC, Benchmark Finance JSC, D. I.S.L. Securities JSC, Somoni Financial Brokerage OOD, Aval In AD.

What is the frequency of calculating issue and redemption price of units?

For Compass Global Trends and Compass Euroselect:
Issue price and redemption price are calculated daily by the management company.

For Progress, Strategy, Eurostability, Plus and Compass Funds Select-21:
Issue price and redemption price are calculated by the management company twice a week – on Wednesdays and Fridays based on assets of the funds for the previous Tuesdays and Thursdays.

What are the required documents for signing a contract and placing an order?

For Individual clients:
official identity document of the investor/proxy/legal representative, a copy of it is certified, signed both by the applicant and the employee of the management company who verified the identity;
original of a notarized power of attorney or a notarized copy of the original, which contains representative power to carry out management or administrative actions with financial instruments (in case of a proxy);
an official document certifying the right of legal representation (birth certificate, guardian or guardian deed), of which a copy is certified, certified by the legal representative and the employee of the management company, verifying the identity (in ase of a legal representative);

For corporate entities
Official identity document of the legal representative / proxy, from which a copy is certified, certified by the applicant party on behalf of the legal entity and the employee of the management company who verified the identity;
Original POA or notarized copy of an official extract from the relevant register for current status, if the person is not registered in the Commercial Register with the Registry Agency;
A copy of the identification card of the BULSTAT register for those who are entered in the BULSTAT register and are not entered in the commercial register – non-commercial legal entities, commercial representations of foreign persons, non-personified companies under the APA, foreign legal entities, branches and other persons under art. 3 of the BULSTAT Register Act;
A copy of the relevant license, permit or certificate of registration from the people carrying out transactions and operations in connection with a particular activity subject to licensing, authorization or registration.
For non-residents – comparable documents certifying their registration, election of legal representative and address;
Original of a notarized power of attorney or a notarized copy thereof, which contains a representative authority for carrying out management or administrative actions with financial instruments, in case the legal representative is not present;