INVESTING IN THE CITADEL VALUE FUND
An investment by a US person is unfortunately prohibited.
If you are an existing client wishing to do a follow-on investment, you only need to fill in and send the one-page Subscription Form (see DOCS).
As a new client, there are two ways in which you can invest in the Citadel Value Fund:
The cheapest option for most investors is to invest directly in the Fund. There are no sales-, transaction- or commission charges and no annual custody fee. The Fund does not charge a subscription- or redemption fee. First-time subscribers can invest directly in the Fund by following the three steps explained below:
A) You will need to complete and sign a version of the Fund's Information Form. Which version is appropriate for you depends on your personal situation and is explained in the DOCS section of the website.
B) You will also need to provide a certified copy of your passport, or another valid identification document (required due to 'know-your-client' provisions, see explanation below).
C) Finally you will need to fill out the one-page Subscription Form to indicate the amount you would like to invest (or: how many Fund shares you would like to purchase). This form can also be found in the DOCS section of the website.
Please mail by postal mail the originals of the completed Information Form, the certified passport copy and the Subscription Form to the Fund's registrar, European Fund Administration (EFA):
|European Fund Administration S.A.|
|attn: Register Dept. - Shareholder Services|
|P.O. Box 1725|
Please ensure that you keep copies of the documents for your records.
To ensure timely receipt and processing at the next NAV date it is advisable to first email a scanned copy of the completed Information Form as well as a copy of your passport to EFA. With the emailed copies, EFA will be able to set up your investment account.
|European Fund Administration|
|Attn.: Citadel Value Fund SICAV|
|Fax: +352 48 65 61 8002|
Note that a transaction (subscription or redemption) will only be processed if EFA also receives your Subscription Form either by Fax or by postal mail. An emailed Subscription Form is unfortunately not valid.
After your account has been set up and your subscription is processed by EFA, you will receive a so-called Contract Note. This is a confirmation of your subscription including the number of shares you purchased and the NAV (price) per share at which you subscribed. It also indicates the amount that needs to be transferred to the Fund's bank account.
Please note that if you have ticked the email option in the Information Form concerning communication, you will receive this Contract Note by email as a zip-file with a pin-code sent in a separate email. The default option for communication is to receive the Contract Note by postal mail.
Because your investment in Citadel Value Fund is administered by EFA, you will receive a holding statement from EFA. The default option for this is delivery at the beginning of a year by postal mail. If you would like to receive your holding statement by email and/or more frequently than once a year, please indicate these options in your Information Form.
The Fund's bank account details are:
|Account Holder / beneficiary:||Citadel Value Fund SICAV|
||Quintet Private Bank (Europe) S.A. (formerly known as KBL European Private Bankers S.A.)|
| Bank address:
||43, boulevard Royal, L-2955 Luxembourg, LUXEMBOURG
|Account no. (IBAN):||LU65 7050 K001 9800 0000|
| BIC code:
Bank or Broker
You may also contact your bank or broker to purchase shares. Shares in the Fund can be purchased and held in your securities account like any other share or fund. Your bank, however, may require certain information to carry out your order. To facilitate your purchase you should pass along the fund's identification code, known as an ISIN code. For the Citadel Value Fund (P class) the ISIN code is LU0141953439.
For further information regarding subscriptions and redemptions, information requirements, etc. you can contact the European Fund Administration S.A. (EFA) in Luxembourg which is responsible for maintaining the shareholder registry of the Fund:
|E-mail:||email@example.com (subject line: Citadel Value Fund)|
|Telephone:||+352 48 48 80 261|
|Fax:||+352 48 65 61 8002|
Alternatively, you are invited to contact us through firstname.lastname@example.org.
When you subscribe you can choose to invest either a monetary amount that you specify, or a particular number of shares.
Should you choose to invest a specific amount of money, the number of shares you purchase will depend on the Net Asset Value (NAV) per share on the next valuation day. Fractional numbers of shares (to two decimal points) are possible. If, for instance, you invest EUR 100,000 and the NAV per share on the next valuation date is EUR 153.00 per share, you will receive 653.59 shares.
Alternatively, you can choose to purchase a certain number of shares (e.g. 1000 shares). The amount to be invested will then depend on what the NAV per share is on the next valuation day. You can make a rough estimate of the amount you will invest based on the last published NAV per share. Nevertheless, under this option it is impossible to know in advance the precise amount you will be investing.
The recommended option is therefore to specify the monetary amount (not the number of shares) that you wish to invest.
Money-laundering laws in Luxembourg and elsewhere require financial institutions to 'know-their-clients'. These laws demand that investors be fully identified and therefore a certified copy of a passport or identity card is required when investors first invest. As is the case with the Fund's shareholder registry, this information will be kept strictly confidential.
When subscribing directly to the Fund for the first time, it is therefore necessary to mail the original signed and completed Information Form as well as an original, officially certified copy of your passport or identity card (for joint accounts all holders should provide identification, and in case of subscribing for a minor child the certified passport copies of the child and of both parents must be provided).
This is not necessary if you have already subscribed directly to the Fund before. Nor is it necessary when subscribing through your bank or broker as you were already identified when you opened an account at your bank.
If you are subscribing on behalf of someone else (e.g. a child, spouse or someone dependent on you), please note that the person you are subscribing for will be the 'beneficial owner' and the shares will be registered in his/her name(s). In this case the following identity documents need to be send:
|1)||an officially certified copy of your passport (both parents in case of a minor child), AND|
|2)||an officially certified document in which it is clear that you have power of attorney such as:
Officially certified copies of your passport or identity card can be obtained from an official public authority such as your city hall/municipality, notary, embassy official, or your bank, lawyer or certified public accountant.
Most investors are the beneficial owners of the shares they subscribe for. However, where the economic benefit belongs to another (such as a child, spouse, dependent, etc.) then he and/or she is considered to be the beneficial owner.
When can I invest?
You can invest at any time. However, your order will actually be completed immediately after the next Net Asset Value (NAV) calculation. Your purchase price will be based on the NAV per share on that date. The NAV per share is determined twice a month, based on the mid-month and end-of-month closing prices. Determination and publication of the NAV (also known as Valuation Day) takes place on the business day following the mid-month and end-of-month closing.
Purchase orders (subscriptions) must be received by EFA by 17:30 CET on the NAV date in order to be completed at this particular NAV per share. If you would like to know when the next valuation date is, please check the NAV section of this website for the NAV Calendar.
Due to the prohibitive costs associated with small investments, the Fund maintains a minimum investment level. The minimum investment in the Citadel Value Fund SICAV (class P shares) is EUR 10,000. This applies to both the initial and subsequent subscriptions. The class X shares carry a minimum investment level of EUR 1m.
Other subscription options
If you are subscribing for shares to be held in the name of a company or association, please contact EFA at email@example.com to obtain details on the procedure and the legally required documentation. If you would like to subscribe for class X shares, please also contact the Fund or EFA.
Likewise, there may be other situations which differ from those described here. Please contact the Fund or EFA in such cases.
IMPORTANT: An investment in the Fund carries with it a degree of risk. The value of your investment may go down as well as up, and you could lose money on your investment. Past performance provides no guarantee for the future. Investors should read the Fund’s prospectus, annual report and Key Investor Information Document (KIID) before deciding whether to invest.