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Transfers Frequently asked questions about Investment Funds
What are investment funds?
Investment funds are independent financial entities with assets owned by multiple individuals or legal entities, referred to as unit-holders. These funds can be categorized as either open or closed. Open funds have a variable number of units, whereas closed funds have a fixed number of units.
The time it takes for your funds to become available can range from 1 to 5 days after your redemption request. For funds invested in exotic markets like India or Uruguay, it might take up to 10 days. The exact redemption amount is typically determined on the next business day. In the meantime, you can use the unit value at the redemption order date as an estimate.
- Expert management by a Management Company
- Low initial investment
- Risk diversification and mitigation
- Access to hard-to-reach markets
- Daily share quotations
- Short-term investment funds invest in highly liquid securities (e.g. term deposits).
- Bonds invest mainly in bonds.
- Equities invest mainly in equities.
- Multi-asset invest diversely across bonds and equities and set barriers for the weight of investments in the portfolio.
- There are two main types of alternative funds, those investing in non-traditional assets (such as infrastructure, real estate and private equity) and those investing in traditional assets (such as short selling and loans).
An investment fund is made up of units, which are autonomous units with identical characteristics that together represent the value of the investment fund's overall assets at a given time. Investment funds are composed of different asset classes such as equities, bonds and cash.
Any investment has its associated risks. In the case of funds, you should bear in mind that:
- They have no capital guarantee, so at the time of redemption you may not be able to recover all the money invested.
- They are made up of a set of assets, whose market price may increase or decrease. This variation is reflected in the value of the unit, which means that the investor may lose part or even all of the capital invested.
The cancellation of subscription or redemption orders for investment funds is not possible through the Millennium App or the website. You must request the cancellation through the Support Line or at a branch.
Funds don't have a predetermined selling time; the choice of when to sell is yours. Factors like returns, investment duration, objectives, market conditions, and economic considerations should be weighed before deciding to sell a fund.
Yes, we have a team ready to answer your main questions and help you with your first investments.
You can monitor the funds you're investing in on the Millennium App or through the home banking.
