Nordic Factoring Fund offers a unique fund product for private investors. Through an investment in the fund, the unit holder receives exposure to the Nordic market for factoring loans. The fund's goal is to generate an annual return of 6+ percent at a low market risk. At the same time, the covariation with other asset classes is expected to be low to non-existent. Thus, the fund serves as an important building block in a well-diversified portfolio.
Anyone who has a custodian account or VP account via Bank or Fund Commissioner can invest in Profit Sharing Loans, as these are listed on NGM (Nordic Growth Market).
Profit-sharing loans can also be a type of asset in a custodian insurance (equity or pension insurance) or investment savings account (ISK). When investing via custodian insurance or ISK, it should be contacted beforehand with your Försäkringbolaget or your Bank / Fund Commissioner if possible.
Anyone who has a custodian account or VP account via Bank or Fund Commissioner can invest in Profit Sharing Loans, as these are listed on NGM (Nordic Growth Market).
Profit-share loans can also be an asset class in a custodian insurance (occupational pension or equity insurance). When investing through custody insurance, you should contact your insurance company before investing to ensure that this is possible.
Anyone who manages discretionary management assignments can invest in Profit Sharing Loans, as these are listed on NGM (Nordic Growth Market).
Professional investors can invest in Profit Sharing Loans if current legislation and management mandates allow. Contact Kreditfonden for more information.
All investments are associated with risks and historical returns are no guarantee of future returns. The funds invested in the Nordic Factoring Fund can both increase and decrease in value, and it is not certain that those who invest in the Nordic Factoring Fund will get back the entire invested capital. Below we list the risks associated with an investment in the fund. Before an investment so should the information brochure and the prospectus read in its entirety.
2022-06-27 | 2022-06-29 | 2022-07-01 |
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2022-07-03 | 2022-10-01 | 2022-10-12 |
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The NAV rate in May was 102.74, which gives an increase for the month of 0.51 (0.4998%). It is a stable and good month, the fund rates according to plan.
The NAV rate in April was 102.23, which gives an increase for the month of 0.54 (0.531 %). It is a stable and good month, the fund rates
The NAV rate in March was 101.69, which gives an increase for the month of 0.57 (0.5637%). It is a stable and good month, the fund rates according to plan. Inflow
The NAV rate in February was 101.12, which gives an increase for the month of 0.52 (0.52 %). It's a good month considering that
The NAV rate in January was 100.60, which gives an increase for the month of 0.60 (0.60 %). It's a good month. Inflow of 71 million
Many thanks for another year with your best investors. The NAV rate in December was 106.79, which gives an increase for the month of 0.55 (0.52%).
| Month | Report |
|---|---|
| February 2021 | Nordic Factoring Fund - February 2021 (+ 0.47%) |
| January 2021 | Nordic Factoring Fund - January 2021 (+ 0.62%) |
2022-08-31
2022-08-31
2022-02-25
2022-02-25
2021-08-31
2021-04-29
2021-02-21
2020-08-31
2020-04-29
2020-02-21
2019-08-30
Before investing in the Nordic Factoring Fund, it is important that you read the written material about the fund in order to make an informed decision. It is important that you understand the risks of the fund as well as how it operates. Therefore, you should carefully read the fund brochure, the basic fact sheet as well as the prospectus and its additions. You will find all relevant documents here:
Investment Process
The investment objects are approved by an investment committee after a well-developed credit process. The Fund strives to consistently engage with borrowers whose expected return is attractive in relation to the credit risk that the commitment entails. The individual commitments are weighed against each other in order to achieve an efficiently balanced credit risk for the fund as a whole. The investment objects have a low correlation with other markets and the risk in the fund should primarily be driven by credit risk and return for the fund as a whole.
Direct lending to companies
The fund's lending objects are primarily found throughout Scandinavia and are aimed at companies that are in some form of expansion, investment, refinancing, restructuring, generational financing, seasonal or other needs.
Fund shares
The Fund may, on a selective basis, invest funds in fund units in similar funds without geographical limitation.
Derivative
The fund has the opportunity to use derivative instruments, partly to reduce such undesirable risks and partly to obtain exposures that are deemed attractive to the fund and its risk profile.
Interest-bearing instruments
The fund can invest liquidity in bonds.
Deposits to bank
The fund may place liquidity with credit institutions after a credit check.
The Nordic Factoring Fund's return (annual profit share rate) will be converted into new profit share loans to the profit share loan holders. For each financial year, the Fund shall determine the Profit Share Rate for the management of the Investment Portfolio in accordance with generally accepted accounting principles.
Profit share interest accruing to the Profit Share Loan holders shall be made on the Interest Maturity Date by issuing additional Profit Share Loans. The profit share rate shall be rounded down to the nearest krona and rounded off at the custodian institution level.
On January 13, the rate will be reduced to 100.00 after booking the Profit Share Rate and the new nominal amount for the Profit Loan should be shown in the respective custody account on January 23.
Important! This means that during the period from January 13 until the custodian institution has issued the new Profit Sharing Loans, there appears to be a negative return on the deposit.
Example 1
Investment in the fund was made on 1 February 2017
Invested capital SEK 100,000 at NAV rate 100.43. It gives a nominal SEK 99,500 (100,000 / 1,0043 = 99,571, which is rounded to 99,500)
The value of the investment on 1 February 2017 was SEK 99,927 (99,500 * 1,0043).
The NAV rate on January 2, 2018 is 108.13 before the issue of Profit Share Interest.
The value of the investment on January 2, 2018 was SEK 107,589 (99,500 * 1,0813).
The return (Profit share interest) is paid to the investor in the form of new profit share loans, giving the total nominal amount SEK 107,589 *)
New NAV rate 10/1 2018 is 100.00 after the issue of Profit Share Interest
The value of the holding after the issue of new profit share loans will then be SEK 107,589 (107,589 * 1,0000)
Example 2
Investment in the fund was made on July 3, 2017
Invested capital SEK 100,000 at NAV price 104.08. It gives a nominal SEK 96,000 (100,000 / 1,0408 = 96,079, which is rounded to 96,000).
The value of the investment on July 3, 2017 was SEK 99,916 (96,000 * 1,0408)
The NAV rate on January 2, 2018 is 108.13 before the issue of Profit Share Interest.
The value of the investment on January 2, 2018 was SEK 103,804 (96,000 * 1.0813).
The return (Profit share interest) is paid to the investor in the form of new profit share loans, which gives the total nominal amount SEK 103,804 *)
New NAV rate 10/1 2018 is 100.00 after the issue of Profit Share Interest
The value of the holding after the issue of new Profit Shares will then be SEK 103,804 (103,804 * 1,0000)
*) As rounding of the Profit Share Rate occurs at the custodian level, the new nominal amount may vary from these examples.
Note that after the Swedish Financial Supervisory Authority's approval of the AIF Fund's addition to the prospectus in December 2017, the nominal amount has changed from SEK 100 to SEK 1.
The main activity of the Fund is to provide loan capital to small and medium-sized companies with funds that influence the offer through this prospectus. The fund's lending objects are primarily found in Scandinavia. The fund may also invest on a selective basis in fund units in similar funds or through co-financing with national or international partners without geographical limitation. Through this, the fund intends to create an investment that has lower risk than equities and better return potential than traditional fixed income investments.
Management fees are paid partly in the form of a fixed remuneration and partly in the form of a profit-sharing remuneration.
The fixed remuneration amounts to 1.6 per cent per year. The fixed remuneration is paid quarterly.
Profit sharing amounts to 20 percent of the fund's value increase in addition to the average return on 3-month government debt bills after the "high watermark". High watermark means that the fund only pays performance-based fees after any sub-return from previous periods has been compensated. The earnings-based remuneration is paid annually.
Commissions, clearing fees and other transaction costs attributable to the Fund's investments are paid on an ongoing basis by the Fund.
Sales and redemption of profit share loans are made on the first banking day of each month.
Notification must be made on a special form. (Subscription can be made for 4 banking days before each change of month, February to December, not January)
You can also subscribe with BankID via mangold.se/emission/teckning
The minimum amount for subscription is SEK 100,000.
The fund will be open for early redemption on January 1, April 1, July 1 and October 1. In order for the fund to be able to plan its liquidity, we need to receive a request for early redemption 90 days before the coming quarters. In practice, this means that redemption needs to be received by 31 December, 31 March, 30 June and 30 September in order to receive redemption in the next calendar quarter.
The fund's liquidity under normal conditions amounts to 3–6% of the portfolio. If the Fund lacks sufficient cash and cash equivalents, funds for redemption shall be procured by divesting parts of the Portfolio. If such a sale, due to prevailing market conditions or in the Fund's assessment, would materially disadvantage other Investors, the Fund may wait with such a sale until the sale can take place in good order.
If funds for redemption need to be acquired through the sale of property included in the Fund, the sale shall take place and redemption shall be effected as soon as possible. The fund may defer the sale and redemption of the units, if there are special reasons for the measure and it is justified in the interests of the Investors.
Redemption takes place at the NAV rate determined at the end of the calendar year quarter immediately before redemption day.
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Investing in mutual funds always involves a risk. The value of your investment can go up and down depending on factors affecting the market including interest rates. Historical returns are not an indicator of future returns. Investors may lose parts or the entire amount invested. For more information on risks, read more in the funds' KIID and prospectus.
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