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BUX ETF

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Whom do we recommend it?

Current data

Downloads, publications

Fund Features

Investment strategy - Fund's objective

Benchmark

Return - continuous reinvestment of realised gains

Flexible investment period

Security

Also available to legal entities and organisations

FUND TYPE

HUNGARIAN EQUITY ETF

RISK CATEGORY

HIGH

RECOMMENDED MINIMUM INVESTMENT PERIOD

5-7 YEARS


Potential return achievable - risk assumed in case of BUX ETF relative to the other funds of OTP Fund Management Ltd.

Whom do we recommend it?

The Fund is recommended to customers seeking to invest their savings in the long run - for a minimum of 5 years - in the Hungarian equity market and - for the sake of higher returns - willing to tolerate temporarily, even greater volatility of the value of their investment caused by price fluctuation of equity markets but with lower risk and cost as single stocks.

Current data

Effective date 21 May 2015
Asset value per unit 910.651886 HUF
Net asset value 3,506,009,761 HUF
Annualized return since inception -0.81%

Net asset value per unit
04 December 2006 - 21 May 2015

Downloads, publications

The Fund's prospectuses and reports are publicly available and can be downloaded at the Asset Manager's home page as well as at the Fund's sales points (at the designated branches of OTP Bank Ltd.). You can download the previous reports of the Fund from the menu item Reports.

The Reports are currently available in Hungarian.

Monthly Report (Hungarian)

Semi-annual Report (Hungarian)

Annual Report (Hungarian)

Simplified Prospectus (Hungarian)

Prospectus (Hungarian)

Here You can find the BUX ETF’s securities basket

Download Acrobat Reader for PDF-format

Fund Features

Fund inception date

13 December 2006

Initial net asset value

HUF 1 125 000 000

Unit denomination

HUF 1 000

Fund type

Public, open-ended securities fund, equity ETF

Custodian

OTP Bank Nyrt., H-1876 Budapest V., Nádor u. 16.

Auditor

Deloitte Auditing and Consulting Ltd., H-1068 Budapest, 84/c Dózsa György Street

Investment strategy - Fund's objective

The investment objective of the BUX Index Tracking Exchange Traded Fund is to achieve a performance that reflects the return of the BUX, the official Budapest Stock Exchange index. The Fund’s return objective is achieved by investing at least 95% of its assets in equities included in the BUX index. In order to minimize the tracking error, fees and transaction costs are kept on the lowest possible level.

Why the BUX index?

The BUX index has been the official bluechip index of the Budapest Stock Exchange since 1991.

Free-float weightings- The Budapest Stock Exchange was one of the first in the world to change over from a total market capitalisation base when it adopted the free float base in October 1999.

Dividends are reinvested - The BUX index is a Total Return Index, and dividends paid by companies in the basket are reinvested in that company’s shares.

Full market coverage - The BUX index represents 94% of the total market capitalisation and 99% of market turnover of Budapest Stock Exchange.

Real-time calculation - The BUX is calculated in real time by the BSE every five seconds based on the actual market prices of a basket of shares.

Derivatives market support - The BUX index is the underlying product for the most liquid futures and option instruments on BSE.

Advantages of the BUX ETF Fund:

Cost efficiency:
Low expense ratio
Low operational costs
Low trading costs
Low turnover costs

Index tracking:
Transparency
Diversification
Market coverage

Exchange trading:
Buying and selling flexibility
Continuous liquidity
All day tracking and trading

Wide array of investment strategies:
Equitising cash
Managing cash flows
Country exposure

Benchmark

The Fund is benchmarked in 100% to BUX index.

Return - continuous reinvestment of realised gains

Taxation
Tax-free investment

Profits realised on the Fund's investments are continuously reinvested by the Fund Manager; therefore they are not distributed as income. Investors may realise the capital gain as the difference between the redemption and purchase price, i.e. as price gain, which is classified as interest by the prevailing Hungarian tax regulations, implying a tax rate of 16%.

Fund's price, access to prices

The net asset value per unit (price) indicates the market value in Forint terms of the Fund's assets - decreased by the Fund's liabilities and increased by its receivables - allocable to a single unit. You can check the current net asset value per unit on the Fund Manager's home page as well as daily in the Napi Gazdaság (Daily Economy) and in the official journal of the Budapest Stock Exchange (Magyar Tőkepiac - Hungarian Capital Market), and on Page 519 of MTV Teletext. Based on this the current value of the investments in the Fund may be easily calculated as the product of the net asset value per unit published at the above specified places and the number of units on your account.

Flexible investment period

BUX ETF Fund is an open-end, indefinite term investment, thus you do not have to pay attention to making fixed deposits and reinvesting after the maturity of your investments. You can place your savings to be invested in our Fund on any banking day (purchase of units). Afterwards, you can increase (purchase of additional units) or decrease (redemption of units) your outstanding investment with any amount at any time without prior notice.

When considering a divestment, you should always note that BUX ETF is promoted as a long-term investment; its redemption is proposed only after the elapse of the recommended minimum 5-year investment period.

Security

Your fund units are credited to your securities account held at OTP Bank, suitable for recording dematerialised securities. You can rest assured that your investment is safe and your fund units cannot be damaged or lost. Your units will not be delivered in a physical form.

Also available to legal entities and organisations

BUX ETF allows both natural - and legal persons, as well as entities without legal personality to invest their free funds at a high risk for long term. Both Hungarian residents and non-residents (as defined by the Hungarian foreign exchange regulations) may invest in the Fund.