Mutual Funds

The fund will manage assets accumulated in individual accounts and income derived from investment of these funds will pay proportionally to individual accounts of members of the fund. The insured are entitled to 100% of the profits realized from investments and the end of each month was paid into individual accounts. Society will draw money from property fund coverage for the fulfillment of contractual obligations to the insured and arsyeshëmve under this pension plan. Pension fund, the Society, in the period of austerity will bring together financial resources to clean the premiums paid and will invest, will direct them in accordance with investment policy, set in the pension plan. Society will insulate pension fund assets from the estate of himself and the will to lead separately.

For the period of saving, property company covering the fund will invest in all types of investments allowed, in accordance with applicable legislation and will use these specific conditions:

- The rules of distribution. At any time investment of pension assets are subject to the following specific conditions:

• Shares or shares of capital should not be higher than 5% of the total shares issued by a emitues.
• Bonds should not be higher than 30% of emissions that a single bond.
• Total investments in any entity, including its unified entities, should not be higher than 5% of total pension.

- Requirements for evaluation. To further protect the quality of pension funds, the CBK may occasionally prescribe minimum levels of investment or classification of funds in determining the eligibility of investment. The level of investment or conditions of classification should form a part or parcel of this Rule to date regulated by directives in writing to the CBK that describe the request (s) so.

Investments will also optimize the company, which will ensure security, trade, profit and investment in appropriate terms, types and allocation of these investments. Investments in funds issued and / or localized outside

Pension assets may be invested only in international types and classes as follows:

• Monetary funds, including bank accounts and deposits in banks that are licensed by the bank regulatory authority of the member states of OECD, and whose license remains in effect and in good condition.
• Funds issued by any State member of the OECD.
• Funds issued by local governments in member states of OECD garantive expansion of the state concerned.
• Funds registered with the regulator of capital market of any country member of the OECD’s and set for public offering and actively registered or sold on the stock exchange in such countries is regulated and supervised appropriately.
• Mutual funds and other investment funds (Open-end entities) in connection with the approval of member states of the OECD to establish their eligibility and whose claims were submitted by the appropriate regulatory and supervisory authorities within member states such regarding the development of business activities of entities such “open-end”.
• All other types and classes of international funds that may be authorized from time to time, by the effective laws, statutes, regulations and rules issued by the competent authorities in Kosovo.

Investments in funds issued and / or localized Within Kosovo

• Monetary funds, including bank accounts and deposits in banks that are licensed by the Central Bank – lo and develop banking business in Kosovo in good rapport with regulatory requirements CBAK
• Funds issued by the competent authorities in Kosovo, with the guarantee extended by such authorities.
• Funds issued by public enterprises and / or registered private capital markets regulator in osovo ensuring that such funds are registered and traded on the Stock Exchange (s) of funds licensed in Kosovo or in member states of OECD and about the regulation and supervision of the authority to apply the capital market in such countries.
• Mutual Funds and other mutual funds (open-end entities “) as approved in Kosovo and the appropriateness of such requests are submitted by the relevant regulatory or supervisory authority in Kosovo regarding the development of business activity such entity” open-end. “
• All other types and classes of local funds that may be authorized from time to time by the applicable laws, statutes, regulations and rules issued by the competent authorities in Kosovo.

Investments that are under the applicable law banned for Pension Assets

Pension assets can be invested in the types or classes of investments as follows:

• Funds that are either unregistered or patregëtuara publiksht.
• Assets that can not legally be transferred, sold, or otherwise dispozohen alienated.
• Funds Derivatives, options, future of përparëshmet and other agreements relating to funds and other financial assets.
• Real estate material and not registered in organized markets and for which valuation is unknown, including but not being limited to valuables, works of art, antiques, collections, and vehicles.\
• Funds released by the parties described as defined in this Rule.
• Any funds by type and class are not allowed by regulation, the rules and / or the proceeds that are not in accordance with the investment principles and guidelines of the pension entity at the time of their acquisition.
• Assets and such other funds as specified by the SRSG and / or laws, statutes, regulations and rules issued by the competent authorities.