Compliance Review of Investors

Compliance review of investors of mutual funds managed
by ABLV Asset Management, IPAS

Hereby ABLV Asset Management, IPAS invites investors of ABLV mutual funds in whose possession are shares of ABLV mutual funds (hereinafter - investors) until April 30th, 2021 to contact ABLV Asset Management, IPAS and submit information and documents for initiation of the compliance review of investor. It is necessary in order for ABLV Asset Management, IPAS to comply with the requirements of legal acts aimed at prevention of risks related to money laundering, terrorism and proliferation financing, as well as sanction violations (hereinafter – ML/FTP/IS).

To contact ABLV Asset Management, IPAS, please call +37167002775 or send an email to investors@ablv.fund. Business hours of ABLV Asset Management, IPAS are 09:00 - 17:30 on Mondays until Thursdays and 09:00 – 14:30 on Fridays (Riga time).

Investor review process is performed in accordance with the specially designed methodology for ML/FTP/IS risk assessment and supervised by the regulator – Financial and Capital Markets Commission. An independent auditor will implement these measures.

Investor compliance review constitutes an essential precondition for ABLV Asset Management, IPAS to continue cooperation with the investor including processing transactions with the shares of mutual funds. ABLV Asset Management, IPAS will process transactions with the shares of mutual funds only after the investor’s compliance review and if there are no restrictions in accordance with the legal acts, as well as after the redemption procedure of the fund shares is resumed.

To initiate the compliance review, the investor has to submit the following documents:

  1.  Identification and representation documents;
  2. Filled “Individual Investor Questionnaire” or “Legal Entity Investor Questionnaire”;
  3. “Ultimate Beneficial Owner Application” in case investor is a legal entity or natural person who in “Natural Person Investor Questionnaire” indicated that he is not the true beneficiary;
  4. Financial instrument account statement or equivalent document (e.g. a formal notice issued by the respective financial institution) attesting investor’s ownership of the shares of mutual funds. Requirements for the document see here;
  5. If shares were obtained after 18/02/2018 – a document justifying the receiving of the shares of mutual funds from a third party (e.g. a purchase agreement or a gift agreement);
  6. “Investor's Statement”.

The investors who are also creditors of ABLV Bank, AS in liquidation or their representatives can provide their consent to use their information and documents (including Identification and representation documents) that were provided to ABLV Bank, AS in liquidation within processing of the creditor’s claim procedure also for the investor’s compliance review. This can be done by submitting “Investor's Statement” in ABLV internetbank. Therefore, these investors will not be required to provide the identification and representation documents repeatedly. The other documents that are required for initiation of the compliance review can also be submitted via ABLV internetbank. However, if the information regarding the investor’s representative provided to ABLV Bank, AS in liquidation is changed or if the provided power of attorney does not include investor’s representation in cooperation with ABLV Asset Management, IPAS, the investor has to provide the current information and the respective power of attorney. The investors who are also creditors of ABLV Bank, AS in liquidation or their representatives should submit the information and documents by April 30, 2021 as well.

During the review, the investors might have to submit other documents requested by ABLV Asset Management, IPAS or the independent auditor, e.g. documents confirming source of funds used to acquire shares of mutual funds, documents confirming source of wealth.

Investor should submit the documents in person or by the authorized representative. Documents should be submitted at 7 Skanstes Street, building 1, Riga, LV-1013, the Republic of Latvia. For arranging a meeting, please call beforehand +37167002775 during ABLV Asset Management, IPAS business hours or send an email to investors@ablv.fund.

If investor cannot meet in person due to travel restrictions, please contact ABLV Asset Management, IPAS about a possible solution.

Decision on sufficiency and adequacy of each investor’s documents will be made individually, considering the results of the investor’s compliance review.

The initiated investor compliance review does not mean that purchase and sale of mutual funds’ shares has been resumed. ABLV Asset Management, IPAS will separately notify on resuming transactions with mutual funds’ shares and on accepting orders for transactions with mutual funds’ shares. Detailed procedure is provided in prospectuses of ABLV mutual funds.