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How does the release of financial resources from the property of the EAM Czech Republic funds work? The mutual fund manager releases the financial resources to cover the liabilities to shareholders for repurchased share certificates usually within three business days. In the event that the mutual fund does not have sufficient available financial resources, he is obliged to obtain them by selling securities from the mutual fund’s assets within the statutory time limit of 15 business days. When selling the securities from the mutual fund’s assets he must comply with the rules of professional care. On the day of the release of the financial resources for the settlement of the repurchases, these are credited to the accounts of the shareholders, if their accounts are maintained by Česká spořitelna (pursuant to the Payment System Act, the financial resources within one bank must be debited and credited on the same day). Therefore, even in the case of change of share certificates between two funds, the financial resources for the repurchased share certificates are credited to the target fund’s current account on the day of their release. From the above it follows, that even in the case of replacement of share certificates, the shareholder cannot be certain when exactly the financial resources for the repurchased share certificates will be released from the initial fund and credited to the target fund. This uncertainty regarding the repurchase settlement date is greater in equity funds than, for example, in money market funds. The accounting of the respective funds and their bank accounts are completely separate from the accounting of the investment company and its bank accounts.
How does the crediting and debiting of share certificates of the EAM Czech Republic funds work? In accordance with the fund’s statute, the investment company shall always issue share certificates (and they will be credited to the shareholder’s asset account) on the first business day after the financial resources are credited to the fund’s account (if the financial resources could be allocated to a particular order). An earlier date of release of share certificates is not technically possible, because the current value at which the share certificates should be issued is not yet known (calculated). On this day, the shareholder’s money is moving from the investment subaccount to the current account and it can be used by the fund manager for the first time. The accounting repurchase of share certificates (i.e. their debiting from the shareholder’s asset account) usually takes place the second business day after the repurchase request submission, always for the current value at the date of the repurchase request submission. The date of the change in the number of share certificates in the shareholder’s asset account is indicated in the asset account statement.The aforementioned technological processes need not be followed in the event that there would be a suspension of the issue or repurchase of share certificates, in accordance with the law and the fund’s statute. Such a suspension could occur in emergency situations (e.g. non-functional systems, electrical power outage, terrorist attacks, etc.). Even when dealing with emergencies, the investment company must give priority to the interests of its shareholders over the interests of its own.
How does the change of share certificates between two funds EAM Czech Republic mutual funds work? Act No. 189/2004 Coll., on collective investment, by which the fund statutes are governed, in its Section 11(1) stipulates that a share certificate is always issued for an amount equal to its current value declared as at the reference date, which is the date when the shareholder’s financial resources are credited to the account of the fund. The purchase of share certificates of the target fund is even within the so-called replacement of share certificates implemented in a standard manner and between the debiting of the share certificate of one fund and the crediting of the share certificate of another fund there is always at least one day difference. (If certain time is necessary to create a sufficient volume of financial resources for repurchase by the fund manager, who must ensure the legitimate interests of other shareholders, the difference in these justified cases may be up to fifteen business days in accordance with the law.)
Current value – price at which share certificates are issued and repurchased in the case of share certificates purchase by the client. (valid for EAM Czech Republic funds) As at the date of crediting the financial resources to the account of the fund (T day), the current value of the assets in mutual fund attributable to a share certificate is calculated. The calculation of the T day current value cannot occur until the next business day (T +1 business day). The publication of the T day actual value takes place the next business day after its calculation (T +2 business days).
Current value – price at which share certificates are issued and repurchased in the case of share certificates sale by the client or in the case of their repurchase by the investment company (valid for EAM Czech Republic funds) Always at the current value at the date of the request submission (T day), the T day current value is calculated the next business day (T +1 business day), the current value is published the following business day after its calculation (T +2 business days). The share certificate cannot be repurchased on the T day, because the price (the current value of the share certificate) at which this settlement must be conducted is not yet known and the number of share certificates to be repurchased is unknown either.
What should I do for the first purchase of share certificates of the EAM CZ funds? If the client has no Procurement Contract with Česká spořitelna and hence, does not own so far any domestic or foreign mutual fund share, he or she must come to any branch of Česká spořitelna to sign the contract. Along with the Procurement Contract the client signs at the same time the free investment provision thanks to which to buy a share certificate of a selected fund, it is enough to send money directly to its current account with the variable symbol in the form of the number of the investment instrument asset account that was assigned to the client. Just one visit to the Česká spořitelna branch is all you need to do and then the client may invest in the chosen fund without any further arrangements.
What should I do for additional purchase of share certificates of the EAM CZ funds when I already have my MUIN? Additional purchase is a standard service for clients who already have the Procurement Contract with Česká spořitelna and their asset account of investment instruments (MUIN) and want to make an additional one-time purchase. This is implemented by mere sending money to the current account of the selected fund where the variable symbol is the number of the client’s asset account of investment instruments. It is supported by the SERVIS24 service.
On which stock markets do you trade with stocks? Česká spořitelna trades stocks on markets in the following countries: Czech Republic, France, Japan, Germany, Poland, Austria, USA and UK
Do you trade stock at the Prague Stock Exchange both in KOBOS and in SPAD? Yes, we trade in KOBOS as well as in SPAD.
When do I have to own a specific security to be eligible for a dividend? On the record date; the record date for dividend payout is approved by the General Meeting.


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