The fixed cut-off time is set at 16:00 CET, and separates one trading day from the next. All orders entered before the fixed cut-off time and accepted by the fund agent before 16:30 CET will be executed on the following trading day at the execution time. If the order is entered later than 16:00 CET, it is part of the following trading day’s accumulated orders, and it must be addressed by the fund agent before 16:30 on the following day.

The Euronext system specially designed for the trading of open-ended investment funds listed on Euronext Amsterdam.

The price at which instruments are traded. This price is determined by the Fund Agent and is based on the Net Asset Value (NAV), plus or minus a surcharge or discount added by the fund, which covers the costs related to the net in- or outflow of the fund. These costs consist of the transaction costs for adjusting the portfolio and market impact costs. Also called the NAV +/-.

The fixed time at which the confirmed orders for each open-ended investment fund are executed at the execution price (the NAV +/-) provided by the fund agent.

The institution appointed by the issuer to act as Fund Agent. Each open-ended investment fund admitted to the Euronext Fund Service should have a fund agent appointed by the Issuer.

An investment fund that is run by a fund management company and is obliged to buy or to issue shares when requested. As a consequence, the value of the fund is in principle equal to the value of the underlying shares. As more people invest, the number of units/shares increases.