Important information

Notice to investors

The fund is a qualified investor fund pursuant to Act No. 240/2013 Coll. on Investment Companies and Investment Funds and as such is open only to qualified investors in accordance with § 272 of this act. In the case of an investment of between 1,000,000 CZK and 125,000 EUR, the suitability of such an investment for the investor is assessed by the fund manager or administrator.

The fund manager warns investors that the value of an investment in the fund may both rise and fall and that the return of the original investment is not guaranteed. The performance of the fund in the past is not indicative of the same or higher performance in the future. A yield from an investment in the fund is achieved when held for the mid-term to long-term period and thus is not suitable for short-term speculation. Potential investors should namely weigh the specific risks that may arise from the fund’s investment goals as described in its statute. Investment goals are reflected in the recommended investment horizon, as are fund fees and expenses.

Detailed information can be found in the statute of a fund or subfund, which you can request in person at the AVANT headquarters or by email at info@avantfunds.cz.

Additional important information is available in the Key Information Document (KID).

The Key Information Document (KID) is available at http://www.avantfunds.cz/informacni-povinnost/, or you can request it by email at info@avantfunds.cz.

The information can also be obtained in paper form from the headquarters of AVANT investiční společnost, a.s., ROHAN BUSINESS CENTRE, Rohanské nábřeží 671/15 (reception B), 186 00 Praha 8.

In accordance with provisions of the Civil Code, the information presented herein is strictly informative in nature and constitutes neither a proposal to conclude an agreement nor a public offer.

Information on the processing of personal data relating to Act No. 110/2019 Coll. on the Processing of Personal Data can be found on the website of AVANT investiční společnost, a.s.: www.avantfunds.cz/gdpr/.

CRS and FATCA – an obligation to review, identify, and report information about investors (tax nonresidents and U.S. persons) to the specialized revenue service

Common Reporting Standard (CRS)

Directive 2014/107/EU of 9 December 2014 was adopted into Czech legislation (Act No. 164/2013 on International Cooperation in Tax Administration as amended by later regulations) effective as of 06 April 2016. The Czech law is a response to developments in the EU and OECD concerning the automatic exchange of information in the field of taxation resulting from the preparation by the EU and OECD of a common standard for reporting and due diligence rules for financial account information, which, together with the Model Competent Authority Agreement, comprises the global Common Reporting Standard (CRS).

In accordance with the aforesaid legislation, as 2016, Czech financial institutions are obligated to identify and verify the tax residency of their investors. Based on this information, financial institutions are, in the case of investors and tax residents from the majority of foreign countries, required to report to the Czech revenue service select information about these foreign investors on an annual basis for the previous calendar year (the first time in 2017 with information from 2016). Identification includes the investor’s tax identification number (TIN), account balance information, and information about deposited income (e.g. interest, dividends, and income from the sale of securities). The Czech revenue service will submit this information to the revenue services of the other participating jurisdictions.

Foreign institutions in participating jurisdictions will proceed in a similar manner, i.e. information about Czech tax residents and their accounts and income abroad will be submitted by these foreign institutions via foreign revenue services to the Czech revenue service in order to verify the correct taxation of foreign the income of Czech tax residents.

AVANT fulfils its CRS identification obligation by collecting a tax residency declaration, in which the investor confirms the jurisdiction of his or her tax residency. In case of tax nonresidents, the investor also provides his or her tax identification number.

The tax residency declaration applies primarily to investors concluding a new shares subscription agreement with AVANT; however, it may also be required of existing investors at some point. The declaration remains valid for an indefinite period and is issued only once granted there is no change in the investor’s circumstances (e.g. relocation to another country).

Foreign Account Tax Compliance Act (FATCA)

FATCA is a 2010 United States federal law requiring all non-U.S. foreign financial institutions (FFIs) to identify and, by means of their national revenue service (in the case of the Czech Republic a specialized revenue service), inform the Internal Revenue Service (IRS) of the United States about accounts held by U.S. persons.

Like CRS, the purpose of FATCA is to detect and prevent tax evasion committed by U.S. taxpayers abroad.

CRS and FATCA – an obligation to review, identify, and report information about investors (tax nonresidents and U.S. persons) to the specialized revenue service

Pursuant to the aforesaid Act No. 164/2013 on International Cooperation in Tax Administration and the intergovernmental Agreement between the United States of America and the Czech Republic to Improve International Tax Compliance and with Respect to the United States Information and Reporting Provisions Commonly Known as the Foreign Account Tax Compliance Act, U.S. persons are identified by AVANT in the case of both new and existing investors. Existing investors who are U.S. persons must provide additional documentation required to comply with FATCA rules, i.e. mainly the confirmation of U.S. tax forms W-9 (in the case of investors – U.S. persons), W8-BEN, or W8-BEN-E. At the same time, verification of an investor’s status for the purposes of FATCA is accomplished with the tax residency declaration that is also submitted for CRS purposes.

Information memorandum

Processing of personal data by AVANT investiční společnost, a.s.

Act No. 110 /2019 Coll. on Personal Data Processing, which transposes applicable regulations of the European Union, came into force on 24 April 2019. This memorandum contains information relating to the processing of personal data by AVANT investiční společnost, a.s.

1. Who controls my personal data?

The controller of your personal data is AVANT investiční společnost, a.s., with place of business at Rohanské nábřeží 671/15, Karlín, 186 00 Praha 8, ID No: 27590241, entered in the Commercial Register of the Municipal Court in Prague under ref. no. B 11040 (hereafter the Company).

2. Who is the contact person for personal data protection and what is their contact information?

The contact person for personal data protection is a person named by the controller or processor of personal data on the basis of their professional qualities and who executes the duties stipulated by law. This individual primarily serves as a contact person for you, our client, in all matters relating to the processing of your personal data and the exercise of your rights as provided by law.

Within the Company, the contact person for personal data protection is Ondřej Pieran, CFA. You can contact him with your requests by email at dpo@avantfunds.cz.

3. For what purposes is my personal data processed and on what legal grounds?

The purpose of processing your personal data is to offer you products and services as an administrator and/or manager of investments funds or subfunds (list of asset management funds). Processing is understood as analysis and segmentation with the aim of tailoring our offer to your specific needs.

We do not wish to burden our clients with unnecessary or inconvenient communication. We process the personal data we collect in order to better understand your needs and be able to offer you suitable solutions in the form of our investment products, service communication, satisfaction surveys, etc. Communication takes place on all channels, including electronically (email, SMS, web interface).

The Company is required to process personal data for purposes of prevention of legalization of proceeds of criminal activity and financing of terrorism.

4. What personal data do you use?

We only use personal data necessary for the fulfilment of the aforesaid purposes. This data primarily includes:

  • identification information (e.g. name, surname, date of birth, national identification number);
  • contact information (e.g. address, telephone number, email);
  • sociodemographic information (e.g. age, gender, occupation);
  • product information (e.g. types of investments).

5. What sources does this information come from?

The data processed by the Company primarily comes from you, from contracts you have concluded with the Company, from public sources, and from cooperating third parties.

6. For what purposes can I grant consent and to whom?

The precise purpose of your consent is:

  • to allow the Company to contact you with offers up to five years after the end of the last contract;
  • to allow the provision of your personal data to other companies for the purpose of offering you their services and products;
  • to allow the Company to contact you with offers electronically as well.

You may grant the Company your consent to the processing of the aforesaid categories of personal data as well as to the provision of your identification and personal contact information to third parties. Obtaining consent is not required at this time. In the event of granting consent, detailed information will be made available on the Company’s website.

7. Who can process my personal data?

Personal data protection statutes allow the controller to entrust data processing to a processor. A personal data processor is any natural person who processes personal data on the basis of a legal provision or by authorization of the controller. Should the Company use this method in the processing of your personal data, it will do so only on the condition that the given personal data processor is contractually bound to guarantee the same principles of personal data protection as those upheld by the Company and that the processor meets all requirements as stipulated by law. The processors used by the Company to process your personal data are:

  • investment intermediaries (representatives under obligation) authorized to mediate products of the Company or of managed funds;
  • information technology providers or operators;
  • marketing agencies and market research agencies.

8. How long will my personal data be kept?

The personal data the Company obtains is kept for the duration of our contractual relationship and for 10 years after its end.

In this time, or once your consent to the processing of personal data has expired, your personal data will be erased, anonymized, or processed only to the extent and for purposes that do not require your consent.

9. What are my rights pertaining to the processing of my personal data?

Your rights pertaining to your personal data are:

  • the right to access – you can ask the Company for access to personal data that pertains to you or is being processed about you; the Company will provide you with a copy of the processed personal data. For subsequent copies, the Company is entitled to charge a reasonable fee to cover administrative costs.
  • the right to rectification – you can ask the Company to rectify inaccurate or incomplete personal data pertaining to you.
  • the right to erasure – you can ask the Company to erase your personal data if one of following situations arises:
    • the personal data is no longer need for the purposes it was collected or otherwise processed;
    • the consent by which your personal data was processed was withdrawn and there are legal grounds for its continued processing;
    • an objection has been raised to being the subject of decision-making based on the automated processing of your personal data and there are no overriding legitimate grounds for such processing, or an objection has been raised to the processing of your personal data for direct marketing purposes;
    • your personal data was processed unlawfully;
    • your personal data must be erased no later than the date of compliance with a legal obligation in Union or Member State law to which the controller is subject;
    • your personal data was collected in relation to an offer of services from an information company.
  • Right to restriction of processing – you can ask the Company to restrict the processing of your personal data if one of the following situations arises:
    • you have contested the accuracy of the personal data for a period sufficient for the Company to verify the accuracy of the personal data;
    • the processing of your personal data is unlawful, but you refuse erasure of this data and instead request that its use be restricted;
    • the Company no longer needs the personal data for processing purposes, but you request it for the establishment, exercise, or defence of legal claims;
    • you have objected to the processing of your personal data pursuant to paragraph 1 of Article 21 of the General Data Protection Regulation pending verification of whether the legitimate grounds of the Company override your legitimate grounds.
  • the right to data portability – you have the right to receive your personal data from the Company in a structured, commonly used and machine-readable format, and this right shall not adversely affect the rights and freedoms of others.
  • the right to withdraw consent – you have the right to withdraw at any time your consent to the processing of personal data for the purpose you consented to; withdrawal of your consent shall have no effect on the processing of personal data prior to withdrawal;
  • the right to object – you can raise an objection at any time to the processing of your personal data by the Company for direct marketing purposes;
  • the right to lodge a complaint – you have the right to lodge a complaint with the Company at Rohanské nábřeží 671/15, Karlín, 186 00 Praha 8, or with the supervisory body – the Office for Personal Data Protection, with place of business at Pplk. Sochora 27, 170 00 Praha 7, www.uoou.cz.

10. Is consent with the processing of my personal data voluntary or required?

Granting consent to the processing of your personal data for the purpose of receiving offers is entirely voluntary (not required at this time).