Mutual funds

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Take advantage of investments in mutual funds, which allow you to achieve higher returns, making it easier to achieve your financial plans. Find the right investment goal with us!

Now do business with mutual funds also in Bank@Net or mBank@Net.

Monitor

Before making any investment decision, acquaint yourself with the Key Documents, which can be found at the link for each individual fund.

Monitor the value of the funds' units on a daily basis:

Mutual fund exchange rates

Simple

The online bank Bank@Net and mobile bank mBanka@Net also enable easy transactions with Sava Infond and Raiffeisen Capital Management (RCM) mutual funds.

For OTP Fund Management, Triglav Skladi, Amundi Funds and Moorea Fund the online and mobile bank currently offers an overview of the balance and the purchase of existing funds.

Investment guide

Check the investment guide and choose wisely. Detailed understanding of mutual funds and related conditions and costs is our priority.

SAVA INFOND

TRIGLAV FUND

SAVA INFOND 

Is good news bad news?
M.Sc. Barbara Gačnik, Head of Investment Management, Sava Infond doo

On Friday, the US published a labor market report that exceeded expectations. In January, 517,000 new jobs were added in the private sector, which is three times more than expected and the most since July 2022. The figure from December was also revised upwards. The majority of jobs would be created in the service sector. The unemployment rate is the lowest in the last 53 years and stands at 3.4 percent. This means that the Fed still has a lot of work to do to tame inflation. On the plus side, growth in average hourly wages has slowed, and that's the direction policymakers want to see. However, a resilient labor market encourages stronger consumption and thus supports earnings growth, which is good for equity markets. On the other hand, a strong labor market may in the long run trigger a second wave of inflation, forcing the Fed to raise interest rates even more aggressively, which in turn would trigger a deeper recession.

On Tuesday, February 1, as expected, the Fed raised the interest rate by 25 basis points, to between 4.5 and 4.75 percent. President Powell announced that the cycle of raising interest rates is not yet over, as inflation remains at elevated levels. The Fed pays special attention to the labor market. In order to reach our inflation target of two percent, economic growth will have to be lower than trend for some time, and the labor market much looser. Powell says that at this point, monetary policy is not yet restrictive enough. The demand for workers remains well above the supply and the latter will need to be balanced, as the strong labor market with its wage dynamics is strongly correlated with prices in the service sector. The prices of consumer goods and goods show an obvious negative trend, and prices for basic services (excluding rents) remain stickier, so it is far too early to declare that inflation has been defeated. Powell believes that at least two more rate hikes, followed by a pause, will be necessary. The Fed estimates that consumption will be strong enough to support US economic growth this year, and if the economy moves in line with their expectations, the committee does not expect to cut interest rates this year.

However, it appears that market participants hear the statements of the Fed chairman very selectively. Markets are in a good mood as inflation melts away and positive sentiment benefits both stocks and bonds. Even as investors are forced to push their interest rate cut expectations back further on the calendar, they still see a Fed reversal in the second half of 2023. Higher stock and bond prices are making millions of Americans richer and making it easier for companies to raise fresh capital for investments and new jobs. As long as inflation is enemy number one, anything that would further stimulate demand and influence prices to rise is undesirable for the Fed.

The key question is, will the sharp fall in inflation continue? If inflation continues to moderate at this pace, then a so-called soft landing is more likely and optimism on the stock market is justified. Conversely, price growth in the service sector may surprise. The last publication of the Service Purchasing Managers' Index far exceeded expectations, the service sector is booming. The prices of goods are indeed falling, but they cannot fall indefinitely, and the tools of monetary policy have less influence on service inflation.

The beginning of the year in the markets is quite positive, so caution will not be superfluous. Despite the growth, there are still opportunities to be found, just be selective. But for long-term returns, the most important thing is to stay invested.

TRIGLAV FUND 

Inflation may be coming down faster than it seems

Aleš Čačovič, senior manager of investment funds

Investors on stock markets are more optimistic than central bankers, who remain reserved in their statements.

With the entry into the new year, the flow and type of events did not change significantly. From the point of view of the media, which is a mirror of the daily events, the concerns of the individual are still connected with high inflation, the war in Ukraine and some other similar concern that is still lingering from last year.

But in the financial markets, which try to guess the direction of the economies from the movements of the curves, it is clear that optimism is returning. As usual, when many people do not know how to explain positive movements on the stock markets in times of bad conditions and vice versa, even now we can ask where the stock markets are rushing to, when the recession has not really hit yet, or where the bond growth is coming from, when the central banks are still they are always fighting inflation.

The divergences are not a surprise

Such inconsistencies are a constant for stock markets, as financial markets move on the wings of guesses, conclusions and expectations, which, economically speaking, are eventually realized.
If we focus on the debt or bond markets, which suffered historic losses last year due to the sharp rise in interest rate expectations, this year they have only begun to recover on expectations that inflation will decrease faster than the central banks expect.

This scenario, which has a significant probability, is becoming more and more relevant. The inflation expectations of the European Central Bank (ECB) and the American Central Bank (Fed) for the end of this year already seemed relatively high at the end of 2022, given the clear negative trend in the energy and raw materials market. Thus, it may turn out that the central banks will again be wrong in their expectations. The latter is nothing special and the markets are already used to it. After all, just as analysts keep changing their forecasts for either corporate profits or countries' gross domestic product, central banks keep changing their estimates for steering monetary policy.

Interest target level

In the last week, two key central banks, the British Bank of England and the Federal Reserve, met. The latter only confirmed with a slight increase in the interest rate (+ 0.25 percent) that it is reaching the target level for raising interest rates, while the Bank of England hinted at the last increase in the interest rate to four percent that it may have already arrived to the plateau.

This news made bond market players overjoyed as it was just one more piece in the puzzle of peak interest rates. The governors of the central banks do not yet share this optimism with the stock markets in their publicly expressed rhetoric and are more or less still somewhat restrained. They see the reason for the slow decline in inflation in the firm part of the market and the pressure on wages. However, the impact of wages usually has a very limited impact on inflation, especially if it does not contribute enough to the purchasing power of the consumer. Globally speaking, the latest surge in prices will remain more or less anchored and subject to the normalization of supply chains and recovery in commodity availability, the consumer will once again be saturated with supply, which will once again start to build deflationary pressures. Central banks don't see such a scenario on the horizon yet, but it could happen much faster than it currently seems.

IMPORTANT NOTICE

We would like to inform you that due to the temporary suspension of trading on the Moscow Stock Exchange from March 1, 2022 until cancellation, payments to the Raiffeisen-Russia-Aktien and Raiffeisen-Osteuropa-Aktien funds are not possible . It is also not possible to sell the points of the mentioned funds until cancellation .

What is a mutual fund?

A mutual fund represents the funds of investors, which are carefully invested in various securities in the management company (DZU).

shares,
bonds and
other financial instruments
from different world regions and industries.

The mutual fund's management rules define the fund's investment policy, which determines which securities and in what proportions can make up the fund's portfolio.

How to invest?

You invest in a mutual fund by buying units of the fund. The value of the unit of property (VEP) changes daily.

Monitor the value of fund units on our new website daily:

MUTUAL FUNDS EXCHANGE RATES

Profit and payouts

Mutual funds are not a banking service and do not provide guaranteed returns. The movement of VEP largely depends on the state of the securities market.

Investing in mutual funds does not represent a tie-up of funds, as is typical of bank deposits, so you can request the withdrawal of all or part of the funds at any time. Also in Bank@Net or mBank@Net.

How to transfer funds between funds?

Fund transfers between mutual funds:

of the umbrella fund SAVA INFOND is free and without immediate taxation. Capital gains are taxed only upon disbursement of funds from an individual fund to the investor's account.
RCM, OTP Funds Management, Amundi Funds and Moorea Fund are very cost-effective.
of the umbrella fund TRIGLAV SKLADI is free and without immediate taxation. Capital gains are taxed only upon disbursement of funds from an individual fund to the investor's account.

You can make transfers between mutual funds Sava Infond and Raiffeisen Capital Management yourself in Bank@Net or mBank@Net.

Are you interested in mutual funds?

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I AM INTERESTED

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Do business with mutual funds and monitor your investments in the Bank@Net online bank or the mBank@Net mobile bank.

Download mBank@Net mobile bank here:

In the branch

You can also visit us at the premises of the Investment Banking Department or the nearest bank branch.

We are the most accessible bank with the widest network, where you can provide various banking services throughout Slovenia.

PRICE LIST OF REFUNDS AND COMMISSIONS

SAMPLE SUITABILITY AND APPROPRIATE QUESTIONNAIRES

 GENERAL INFORMATION

 WHAT DO YOU NEED?

LIMITATION OF LIABILITY

WARNING TO INVESTORS

 GENERAL INFORMATION 

You can use different payment methods to save or invest funds in mutual funds:

individual or one-time payments,
monthly payments (an option of concluding a permanent loan/direct debit),
a combination of both options (you pay the larger amount once, but you also enter into a monthly recurring/direct debit).

We do not charge a fee when paying into Infund's mutual funds with a payment order at OTP banka branches.

 WHAT DO YOU NEED? 

To invest in mutual funds you need:

valid personal document (identity card, passport, or new driver's license),
tax number,
personal account number (we recommend an account with OTP banka for faster transfer of funds).

After you have decided to invest funds in mutual funds, you start doing business by creating your investor profile and arranging the declaration of accession to the mutual fund. You can buy, sell and transfer assets between mutual funds in our branches, and now also in Bank@Net or mBank@Net.

In the online and mobile bank, you can easily do business with Sava Infond and Raiffeisen Capital Management mutual funds. For the time being, OTP Fund Management, Triglav Funds, Amundi Funds and Moorea Fund are available to view and purchase existing mutual funds.

LIMITATION OF LIABILITY 

When investing in mutual funds, OTP banka d.d. acts as an intermediary. An investment in a mutual fund is not the same as a bank deposit and is not included in the deposit guarantee system. When buying units of a mutual fund, the investor assumes the risk that when they are sold, he will get less than he invested in them.

WARNING TO INVESTORS 

This is a marketing communication. Familiarize yourself with the prospectus and/or Key Information Document before taking any final investment decision.

The published data do not constitute an investment recommendation or investment advice service and shall not be construed as an offer to purchase mutual fund investment coupons.

Past performance is not a guarantee of future results. Past returns on a fund investment are not an indicator of its future returns. The development of the asset value of each fund depends largely on the situation on capital markets. The asset value may increase or decline, which is why future returns may be either higher or lower than past returns. There is a possibility that the investor will not be able to recover all the assets they invested in the fund during the saving term.

Future results of the fund also depend on taxation. The latter depends on the individual situation of each investor and may be subject to change.

Infond funds are managed Sava Infond, družba za upravljanje, d.o.o., Raiffeisen Capital Management mutual funds (“RCM”) are managed by Raiffeisen Kapitalanlage – Gesellschaft m.b.H., OTP Fund Management mutual funds are managed by OTP Fund Management Ltd., BNP Paribas mutual funds are managed by BNP Paribas Investment Partners, Allianz Global Investors Fund mutual funds are managed by Allianz Global Investors Luxembourg S.A., Deka Investment Funds mutual funds are managed by Deka International S.A., Luxembourg, Triglav Skladi mutual funds are managed by Triglav Skladi, družba za upravljanje, d.o.o., Amundi Funds mutual funds are managed by Amundi SA, and Moorea Fund mutual funds are managed by Societe Generale Private Wealth Management s.a.

Sales, distribution, and subscriptions for mutual funds Sava Infond, RCM, OTP Fund Management, BNP Paribas, Allianz, Deka Investment Funds, Triglav Skladi, Amundi Funds, and Moorea Fund in Slovenia are provided by OTP banka d.d.

The Prospectus and management rules for each of Sava Infond, Triglav Skladi, RCM, OTP Fund Management, BNP Paribas, Amundi Funds, and Moorea Funds and their Sales Prospectus, Key Investor Information Document, and Annual and Semi-Annual Reports are available free of charge on the website of OTP banka d.d. under the Mutual Funds tab, at the registered office and in all branch offices of OTP banka d.d. Documents of Infond funds and Triglav Skladi funds are also available on the website of each management company.

Mutual funds | OTP banka

Investments in mutual funds enable the achievement of potentially higher returns than with conventional savings products. In OTP banka, you can access a wide range of KBM Infond, Raiffeisen Capital Management and BNP Paribas funds.

MUTUAL FUNDS

The divergences are not a surprise

Interest target level

What is a mutual fund?

How to invest?

Profit and payouts

How to transfer funds between funds?

Are you interested in mutual funds?

With just one call

Digital

In the branch

Ways to bank

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About Us

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