Fundusze inwestycyjne BPH TFI

Subfund profile
Risk level	Moderate
Fund category	Capital-protected
Fund manager	Bartosz Zdunski
Valuation Frequency	monthly (on the last trading day of each calendar month)
The Level of Capital Protection (Applicable on the day of capital protection termination)	121,89 PLN
Current capital protection period terminates	the last trading day of December 2011
Value of the investment certificate	valuation

INVESTMENT POLICY
BPH FIZ FX Structured is the first such fund on Polish market, investing in the currencies of emerging markets and simultaneously offering 95% capital protection of the invested assets at the end of the first protection period lasting 3 years.
Emerging currencies basket includes currencies of the following countries: Mexico, Saudi Arabia, Russia and China. The fund will provide returns above protection level should the emerging currency basket increase in 3 yaers period against a basket of currencies of the developed countries such as euro, US dollar and British pound. The growth of the value of emerging currencies basket is boosted by high participation ratio of 230%.

The Fund has been pursuing such investment policy since 2nd December 2008 i.e. since the issue date for the investment certificates of B series.

SUBSCRIPTION DATES
The fund payments were collected by subscription for the investment certificates in the public issue in the period commencing on 29th September and ending on 21st November 2008.
Currently the investment certificates may be purchased in trading at the brokerage office.

CERTIFICATES REDEMPTION
The redemption of the certificates takes place on the last trading day in March, June, September and December. The single request for the redemption shall cover more than 10 investment certificates. It should be remembered that the certificates are the subject to trading thus may be purchased or redeemed only by the Brokerage Office of BPH.

THE FEES
The redemption fee of the fund certificates amounts to 0.5 % of the value of redeemed certificates.

The fund does not guarantee reaching its investment objective including the capital protection on the level set by the investment portfolio protection strategy as well as reaching the anticipated performance. Therefore the investor must bear in mind the possibility of losing some capital invested. The investment fund performance is not equal to the return of the individual investor as the fees and the tax levied on the income from investments in the fund, particularly the tax on the capital gains shall be taken into account.

Prospectus (Polish version)
 

Short Prospectus (Polish version)
 

Financial Reports (Polish version)