List of frequently asked questions by customers of Investment funds services

An investment fund is a form of collective investment of money. Even small payments to the fund create a considerable capital which allows for beneficial investments. Financial means of the fund are invested in various types of securities, such as shares, treasury bills and bonds. The price of a unit charges at every Valuation Date, i.e. on each day on which a session on the Warsaw Stock Exchange takes place. It is caused by changes in the value of securities and deposits in which fund's resources are invested. Before entrusting money to a fund, you have to reflect on for how long you want to save and when you will need the accumulated resources, in order to adjust your needs to funds and products offered by the Investment Fund Company in the best possible way.

It is necessary to remember that investment funds do not guarantee any profit. A description of rick related to investment can be found in Prospectuses of all funds managed by PKO Towarzystwo Funduszy Inwestycyjnych [TFI, Investment Fund Company].

PKO Funds can be bought via PKO TFI Internet service, Inteligo (by means of Inteligo account), iPKO (electronic banking).

Funds can also be purchased in branches of PKO Bank Polski, Dom Maklerski PKO Banku Polskiego, Bank Pocztowy, mBank, MultiBank, Open Finance, Noble Bank, BNP Paribas Bank.

A complete list of distributors can be found at www.pkotfi.pl in the "Gdzie kupić fundusze" [Where to buy funds] tab.

The numeric PIN password is a five-digit password sent to the Unitholder by registered mail just after the first register is open. Thanks to a PIN, one can receive information concerning the register by telephone. It refers persons who declared such an intention. PIN and a register number make it possible to place orders by telephone and via the Internet.

Unitholders can check their register balance via the Internet: the first step consists in activating the Internet service at the Customer Service Point or by sending the PIN Declaration available at: www.pkotfi.pl  in the "Zainwestuj on-line" [Invest On-line] tab.

While logging for the first time in the Internet service, one uses an eight-digit user number and a numeric PIN password. Afterwards, the Customer is asked to create their own password which will be used to log in the future.

Customers who have their register number and numeric PIN password can check their register balance by calling 22 358 56 56 or 801 32 32 80 and choosing number 2 on the numeric keypad.

The Internet Service can be unlocked at the Customer Service Point or, depending on the type of the lock, with the help of the Telephone Customer Service Department  by calling 22 358 56 56 or 801 32 32 80.

The register number can be determined at the Customer Service Point via a hotline dedicated to employees.
Register number is also included in one of the first letters sent to the unitholder after the opening of the register.

In addition to the handling fee - which differs depending on the fund (the up-to-date Table of Charges is available at  www.pkotfi.pl) and is collected by the fund while purchase and/or repurchase, conversion or transfer - there are so-called costs of remuneration for management. These are costs of the fund operation per annum which are strictly limited by provisions of the statutes. The amount of the payment for management is collected depending on the fund type. Everyday value of a unit published in the press, in the teletext, on the Internet, etc. includes all costs incurred by the fund.

In order to initiate the procedure of payment of the funds from a deceased person's register, one should visit a Customer Service Point and bring the death certificate of the deceased person.

In order to be able to place orders by telephone it is necessary to activate a telephone service while opening a register or to submit a Data Change order to the Customer Service Point.  While placing an order, the Unitholders provide their numeric PIN password and the number of the register in relation to which they wish to place an order.

Reinvestment consists in purchasing free of charge funds for the register, which was earlier subject to repurchase.

Unitholders are authorised to reinvest  A, A1, C or C1 category Units three (3) times per one calendar year. The number of reinvestments in the Fund is decreased by the number of reinvestments made in other PKO funds in a given calendar year.

The sum of the reinvestment cannot exceed the sum received by a given Unitholder due to the performance of a repurchase order to which the reinvestment refers. While making a payment to purchase Units, the Unitholders indicates:

a. whether they want to benefit from the right to reinvestment - the word "reinvestment" should be included in the transfer name;

b. Valuation Date on which  the repurchase order was performed;

c. number of the register on the account of which the Units are to be purchased.

 Reinvestments of financial resources obtained by means of a repurchase of Units can be made only within the framework of one purchase and only of the Register from which the Unit repurchase order was performed.

Information about products can be found at www.pkotfi.pl, in the "Programy Inwestycyjne" [Investment programmes] tab.

Information regarding products can be obtained at Customer Service Points and by telephone on the following Customer Service Department numbers: 22 358 56 56 or 801 32 32 80.

Closed Investment Fund is one of the forms of investment funds determined in the Act of 27 May 2004 on investment funds (as amended). Such a fund issues series of investment certificates which constitute securities. Fund's certificates can be listed on the stock market. Taking into consideration the fact that the certificates are issued in series, their subscription takes place at specific dates. It means that- contrarily to open investment funds - CIF do not offer their participation entitlements to investors every day. Similarly, as far as the purchase of participation entitlement in closed funds are concerned, according to the statutes, it can take place only from time to time (or not at all if provided by the statutes).

Individual Pension Account (IKE, Indywidualne Konto Emerytalne) payment is such a payment in the case of which the paid capital is not subject to capital gains tax. Payment form IKE can be performed if conditions stipulated in the Act on Individual Pension Accounts are met:

- Unitholder is at least 60 years old or is at least 55 years old and has acquired pension rights,

- contributions to IKE have been paid for a period of any 5 years or almost a half of the value of contributions accumulated in IKE were paid no later than 5 years before the submission date of the application for payment.

In the case of persons born before 1^st January 1949, the minimum period during which IKE contributions were paid may be shorter.

Transfer payment consists in withdrawing funds from IKE in one institution and conveying them to another institution in order to continue to maintain an IKE. In order to make a transfer payment, a Unitholder places an order to open an IKE in the institution in which the Unitholder wishes to continue saving. On the basis of the placed order, the institution to which resources from the IKE are transferred prepares appropriate documents which are to be submitted to the institution from which the Unitholder wants to perform the transfer payment.

Return form IKE consists in withdrawing funds from IKE before meeting the requirements needed to make a payment (determined in the Act on Individual Pension Accounts). A return from IKE can concern both all and a part of funds accumulated in IKE. In the case of a refund, capital gains tax is deducted. If units registered o IKE were purchased by financial means from a transfer payment made from an occupational pension scheme, before making the refund, funds will transfer a sum amounting to 30% of total basic contributions paid to the pension scheme to a bank account specified by the Social Insurance Institution.

Pursuant to the Act of 20^th April 2004 on Individual Pension Accounts and Individual Pension Security Accounts, as amended), a person saving by means of IKE can have only one IKE.

IKZE (Indywidualne Konto Zabezpieczenia Emerytalnego) is an Individual Pension Security Account. In the case of this product, a customer can deduct payments to IKZE from the tax base. After a withdrawal of funds, the customer pays the income tax on the value of the withdrawn funds (PIT-0), but there is no capital gains tax. As far as IKZE is concerned, contribution limit depends on the amount of Customer's revenues, although it cannot exceed the statutory amount.

E-mail service allows PKO Funds to send correspondence - within the meaning of and according to the E-mail Service Terms applicable in relation to investment funds managed by PKO Towarzystwo Funduszy Inwestycyjnych S.A. - in the form of PDF documents to the e-mail address indicated by a given Unitholder. It is possible to activate the Service by sending the "E-mail Service Activation Declaration"  available at www.pkotfi.pl or by placing an appropriate order at a Customer Service Point or via the Internet service devoted to placing orders related to PKO Funds.

Payment instruction is a bank account number of a unitholder assigned to the unitholder's register. That is the account on which funds are transferred after a repurchase order is placed.

The number of attorneys assigned to one register cannot exceed 4 persons.

Conversion: a transaction consisting in a transfer of all or of a part of invested financial means between funds. It implies a simultaneous repurchase of units in one fund and purchase of units in another fund.

Transfer: a transaction consisting in a transfer of all or of a part of invested financial means between sub-funds in the Umbrella fund and the World Monetary Fund. It implies a simultaneous repurchase of units in one sub-fund and purchase of units in another sub-fund.

In the case of conversion between funds, capital gains tax is deducted, while in the case of a transfer order, the tax due is deducted when the Unitholder exits the investment in the Fund.

Yes, a minor can be designated as the authorised person in the event of death of a given Unitholder.

A register for a child can be opened by the child's parent or statutory representative. Family and other persons can invest for the benefit of a child by paying additional contributions to the register.