Frequently asked questions

  • What are investment funds?

    Investment fund is a type of collective investment scheme under which all fund Participants invest money together. Investment funds are established and managed by investment fund management companies. Funds manage the assets of many investors and invest them in securities, such as equity shares, bonds, treasury bills and other financial instruments.

    Investment control
    Unlike bank deposits with a fixed interest rate, the return on investments in an investment fund is neither known in advance nor guaranteed. It is not based on interest income but on the change in the value of securities and other assets in which the funds invest. The higher the increase in the value of securities, the higher the return. The value of investments can be checked on an ongoing basis by tracking the value of participation units of respective funds.

    Investment horizon
    Defines the exposure to the equity market. In the case of investments of several months, money market sub-funds are generally recommended. In the case of three-year investments – stable growth funds are considered the right choice and for investments of 5 or more year – equity and balanced sub-funds.

    Risk appetite
    When the risk acceptability level is high, investors may take into consideration more volatile investments which, however, may bring higher returns e.g. equity sub-funds. When the risk acceptability level is low, it is better to invest in sub-funds with limited volatility, even if the return on them is lower.

  • When and how should I start and end an investment?

    The basic rule which operates on capital market is that growths are followed by slumps, the bull market is followed by the bear market and vice versa.

    Many people want to invest on a short-term basis to take advantage of upmarket trends and avoid downmarket. But it is not possible to predict and avoid all market corrections. When we try to do it, we actually increase the investment risk.

    The main task of the investor at the beginning of the investment process is to define their risk appetite and the time horizon of the investment and then to stick to the original plan.

    In the case of long-term investment e.g. in equity funds periods of growths and declines occur invariably. The emotions which occur at such times are a bad advisor.

  • I made the payment ... and now what?

    Sub-register and confirmation

    Following the order placement and making the payment a sub-register will be opened for you in the selected sub-fund. The Participant’s sub-register is an electronic record of your personal data and of the information about the number of participation units held and executed transactions. Payments made to the selected sub-fund are converted into a corresponding number of participation units of the respective sub-fund.

    When your purchase is executed by the sub-fund, you will receive a confirmation of participation which is a certificate of the transaction execution (unless you agreed to receive transaction confirmations at other times). The document contains information about the amount of payment made and the number of purchased participation units.

    Subsequently, you can purchase more participation units for the abovementioned sub-register through direct payments.

    Other orders which can be placed for the sub-register include:

  • How can I open a sub-register in Santander FIO and Santander Prestiż SFIO funds?

    Opening of a sub-register in Santander FIO and Santander Prestiż SFIO is possible:

    a. in person - in fund distributors’ outlets (the list of distributors with the addresses of their outlets is available on Santander.pl/TFI website),

    b. by proxy - the power of attorney to open a sub-register should be issued in writing with a notarised signature or in the form of a notarial deed and the power of attorney issued outside the territory of Poland should be certified by a Polish diplomatic post or a Polish consular office for conformance with the law in force at the place of the PoA issue or include the Apostille clause within the meaning of the Convention Abolishing the Requirement of Legalisation for Foreign Public Documents drawn up in Hague on 5 October 1961. (Journal of Laws of 2005, no. 112 item 938).
    A power of attorney issued in a foreign language must be translated into Polish by a sworn translator.

    c. online via Santander internet - detailed information about possibilities connected with placing orders are available in Santander Bank Polska.

  • Can you open a joint marital sub-register in Santander FIO and Santander Prestiż SFIO?

    Funds do not offer joint marital sub-registers.

    Each Participant is an individual natural person or an organisation without a corporate status.

  • Can a minor person be a Participant in Santander FIO or Santander Prestiż SFIO fund?

    A person below the age of 18 can purchase participation units of both funds exclusively through a statutory representative.

  • What are the currencies in which payments can be made to Santander FIO and Santander Prestiż SFIO?

    Payments to Santander FIO and Santander Prestiż SFIO can be made only in PLN.

  • What is the minimum value of payments to Santander FIO and Santander Prestiż SFIO?
    fund Santander FIO Minimum initial payment on sub-register Minimum subsequent payment on sub-register
    All sub-funds in Santander FIO PLN 1 000 PLN 100
    fund Santander Prestiż SFIO Minimum initial payment on sub-register Minimum subsequent payment on sub-register
    All sub-funds in Santander Prestiż SFIO PLN 1 000 PLN 100
  • How can I make the next payment to an existing sub-register?

    After the initial purchase, subsequent purchases are possible through:

    1. direct payment - each sub-register has an assigned individual bank account number (indicated on the confirmation of participation). Each payment to the account will be settled as the next purchase.
    2. placement of a new purchase order - placed in person at the distributor’s outlet or using remote access channels offered by the distributor. Payment must be made to an account indicated by the distributor. The list of distributors can be found on Santander.pl/TFI
  • What is a direct payment?

    After the settlement of the first order you will receive confirmation of participation with the settlement of the initial transaction. On the confirmation you will see a number of a bank account maintained in PLN, intended for direct payments.

    Each sub-register has an assigned individual bank account number for making direct payments. Each payment to that account will be settled as the next purchase of units for the sub-register.

  • How to complete the direct payment form?

    The direct payment form should include, apart from the amount of money , data of the person making the transfer (in the case of natural persons, first and last name and PESEL number of the Participant, and in the case of corporate entities – company name and REGON number), the Participant’s sub-register number and the bank account number.

  • What is the entry fee and how much is it?

    The entry fee is charges upon the execution of a purchase order.

    Detailed information about current rates of entry fee:

    Tabela opłat Santander FIO i Santander Prestiż SFIO
    9 June 2020 r.
    150.4 kB
    PDF
    pl_PL
    Pobierz

    Detailed information about maximum rates of entry fee:

    Prospekt informacyjny Santander Prestiż SFIO (31 sierpnia 2021)
    31 August 2021 r.
    5431.1 kB
    PDF
    pl_PL
    Pobierz
     
    Prospekt informacyjny Santander FIO (1 lipca 2021)
    1 July 2021 r.
    2599.3 kB
    PDF
    pl_PL
    Pobierz

     

  • What is the exit fee and how much is it?

    The exit fee is charged upon the execution of a redemption order. Its value depends on the time of holding the participation units.

    Detailed information about current rates of exit fee:

    Tabela opłat Santander FIO i Santander Prestiż SFIO
    9 June 2020 r.
    150.4 kB
    PDF
    pl_PL
    Pobierz

    Detailed information about maximum rates of exit fee:

    Prospekt informacyjny Santander Prestiż SFIO (31 sierpnia 2021)
    31 August 2021 r.
    5431.1 kB
    PDF
    pl_PL
    Pobierz
     
    Prospekt informacyjny Santander FIO (1 lipca 2021)
    1 July 2021 r.
    2599.3 kB
    PDF
    pl_PL
    Pobierz
  • What is the conversion fee and how much is it?

    Conversion fee is charged at the time of conversion of participation units, exclusively on the units which were recorded in the source sub-register (from which conversion is made) up to and including one month. If the participation units which you want to transfer to another sub-fund were recorded in your sub-register longer than one month, additional fee will not be charged.

    Detailed information about current rates of conversion fee:

    Tabela opłat Santander FIO i Santander Prestiż SFIO
    9 June 2020 r.
    150.4 kB
    PDF
    pl_PL
    Pobierz

    Detailed information about maximum rates of conversion fee:

    Prospekt informacyjny Santander Prestiż SFIO (31 sierpnia 2021)
    31 August 2021 r.
    5431.1 kB
    PDF
    pl_PL
    Pobierz
     
    Prospekt informacyjny Santander FIO (1 lipca 2021)
    1 July 2021 r.
    2599.3 kB
    PDF
    pl_PL
    Pobierz
  • What is the management fee?

    The fee for the management of the sub-fund is the remuneration of the management company and may be different due to the sub-fund and participation units category.

    Santander FIO sells and redeems four categories of participation units A, S, T and D.

    Santander Prestiż SFIO sells and redeems two categories of participation units B and D.

    The published valuation of the participation units of both funds includes the management fee so there is no need to add it.

    The maximum rates of management fees are indicated in the prospectuses of the funds in Chapter 3 "Data on the Fund".

    NOTE: Management fee should not be confused with, a fee for the investment result - these are different fees. More on the subject of the fee for the investment result in next question.

  • What is the fee for investment results?

    The fee for the investment results is the remuneration of the management company for achieved investment results above level specified in the fund’s prospectus.

    The fee may be charged in the following sub-funds:

    Fund Sub-fund Does the Company collect the fee for the investment results
    Santander FIO Santander Small and Medium Caps Equity YES
    Santander Prestiż SFIO Santander Prestiż Alfa
    Santander Prestiż Emerging Markets Equity
    Santander Prestiż Technology and Innovations
    YES
    Santander Prestiż US Equity
    Santander Prestiż Global Fixed Income
    NO

    On January 4, 2021, Santander Prestiż Global Fixed Income sub-fund changed its name (from the previous one: Santander Prestiż Global Corporate Bond) and investment policy.

    The maximum rates of the fee for the investment result are indicated in the prospectuses of the funds in statute’s part:

    Prospekt informacyjny Santander Prestiż SFIO (31 sierpnia 2021)
    31 August 2021 r.
    5431.1 kB
    PDF
    pl_PL
    Pobierz
     
    Prospekt informacyjny Santander FIO (1 lipca 2021)
    1 July 2021 r.
    2599.3 kB
    PDF
    pl_PL
    Pobierz

    NOTE: The fee for the investment result should not be confused with the management fee - these are two separate fees. More on the subject of the management fee in previous question.

  • Is the capital gains tax charged in Santander funds and, if so, at what rate?

    Natural persons
    The income tax on capital gains is charged upon the execution of a redemption order for participation units.

    The income tax on capital gains is charged upon the execution of a conversion order i.e. transfer of assets from one sub-fund into another.

    In the case of redemption orders filed by the Participant, the tax of 19% is charged exclusively on the amount of profit yielded by the repurchased participation units.
    The income from funds is not added to income from other sources, therefore the amount of tax withheld by the fund does not have to be disclosed in the annual tax return. The payer of the flat-rate tax is the fund.

    In order to determine the tax obligations of individuals who are not residents of the Republic of Poland, it is necessary to consider the tax system in force in the country of their residence and the provisions of international agreements on avoidance of double taxation between Poland and the respective countries.
    For the purpose of determination of the customer’s tax status, the customer should submit a certificate of residence which evidences the taxpayers place of residence for tax purposes, issued by a competent tax administration authority in the taxpayer’s country of residence.

    Legal basis – Personal Income Tax Act (Art. 30a)

    Due to the fact that tax obligations depend on the individual situation of the Fund Participant and the place of making investments, in order to determine tax obligations it is advisable to consult a tax adviser or legal adviser.

    Legal entities
    In the event of Participants who are legal entities, the tax on capital gains generated by Santander FIO or Santander Prestiż SFIO is not withheld.

    Legal entities who are fund Participants are obliged to pay on their own the income tax on the profit realised upon the redemption of participation units.

    The income tax rate applicable to entities subject to the Corporate Income Tax Act is 19%.

    Legal basis: Corporate Income Tax Act.

  • What is conversion?

    Conversion is a transaction involving simultaneous redemption of participation units of one sub-fund and using the proceeds (after deduction of the potential fees and charges, if any) to purchase participation units of another Santander FIO or Santander Prestiż SFIO sub-fund. Note: Conversion is possible between sub-funds of the same fund. It is not possible to execute conversion between Santander FIO and Santander Prestiż SFIO funds.

    In other words, conversion is a transfer of assets from one sub-fund (source sub-fund) to another sub-fund (target sub-fund).

    A conversion order placed on day D (where D is the order placement day):

    • will be executed according to the valuation on day D+3,
    • If, as a result of the application of the rules above, the execution day is more than 7 days past the order placement day, the order will be executed on the 7th day.
  • What are the costs of conversion settlement?

    1. Conversion fee:

    • conversion fee is charged at the time of conversion of participation units, exclusively on the units which were recorded in the source sub-register (from which conversion is made) up to and including one month. If the participation units which you want to transfer to another sub-fund were recorded in your sub-register longer than one month, conversion fee will not be charged.

    2. Tax:

    upon the settlement of conversion of participation units 19% tax on capital gains is not charged.

  • What is reinvestment and what are its terms?

    Reinvestment is an option of returning to a sub-fund without paying the entry fee. Exemption from the entry fee is possible when all the requirements specified below are fulfilled:

    • the repurchase transaction will be settled on the same sub-register as the one from which the participation were earlier redeemed; and
    • the period between the redemption valuation day and the date of submission and payment of the purchase order may not be longer than 85 calendar days

    Reinvestment applies to the first purchase settled on the sub-register from which the participation units were redeemed.

    Exemption from the entry fee shall be limited to the payment amount equal to the value of the redemption proceeds.

    Reinvestment is not possible in the case of conversion orders.

  • How to withdraw money from a sub-fund?

    Withdrawal of money from Santander FIO and Santander Prestiż SFIO sub-funds is possible only through placement of an order for redemption of participation units. The order can be placed:

    1. in person - in fund distributors’ outlets (the list of distributors with the addresses of their outlets is available on Santander.pl/TFI website)
    2. online
      • via Santander internet - detailed information about possibilities connected with placing orders are available in Santander Bank Polska S.A.
      • via service for institutional clients – under the agreement for the provision of online services.*

    *the service applies only to legal persons and organizational units without legal personality

    Following redemption of the participation units, a tax on capital gains and exit fee can be charged, according to the Schedule of Fees and Charges:

    Tabela opłat Santander FIO i Santander Prestiż SFIO
    9 June 2020 r.
    150.4 kB
    PDF
    pl_PL
    Pobierz

     

  • What are the rules of publishing the valuation of participation units?

    The valuation of participation units is determined as at the closing time of foreign markets on which the sub-fund can invest, according to the prices available at 11:00 p.m. After the closing of foreign stock exchanges, the process of calculating the value of participation units begins.
    Valuation days are days on which regular trading sessions are held on the Warsaw Stock Exchange.
    The value of participation units from a given valuation day is published on Santander.pl/TFI, as soon as it is determined, i.e. on the following business day in the afternoon. Additionally, the valuation of participation units can be obtained from fund distributors and by calling TFI’s helpline.

  • Where can historical values of participation units be found?

    The values of participation units are available in the Quotations.

    Historical valuations are available either in the form of graphs or csv files.

  • How many proxies can be appointed for sub-registers?

    The Participant (natural person) can appoint maximum two proxies to one sub-register. The limit does not apply to Participants other than natural persons.

  • What are the requirements for a power of attorney issued abroad?

    The power of attorney to open a sub-register or to manage an existing sub-register should be issued in writing, with a notarised signature or in the form of a notarial deed, in the Polish language or translated into Polish by a sworn translator.

    Additionally, the power of attorney should be certified by a Polish diplomatic post or a Polish consular office for conformance with the law in force at the place of the PoA issue or include the Apostille clause within the meaning of the Convention Abolishing the Requirement of Legalisation for Foreign Public Documents drawn up in Hague on 5 October 1961. (Journal of Laws of 2005, no. 112 item 938).

  • What are the types of power of attorney?

    Permanent Power of Attorney:

    1. General – authorizes the holder to execute all legal actions on behalf of the sub-register owner, with the exception of:
      • changes in the Participant’s personal data,
      • issuing further powers of attorney,
      • entering into an IKE (Individual Pension Account) agreement,
      • signing an agreement for the provision of telephone and online services * and placing orders under the agreement,
      • opening a new sub-register,
      • blocking a sub-register due to establishing a security in the form of pledge on Participation Units,
      • collecting cash from the execution of a redemption order,
    2. Specific - authorizes the holder to execute actions specified in the power of attorney, other than the actions excluded from the scope of the general power of attorney.

    One-off power of attorney - authorizes the holder to execute a specific action states in the power of attorney, other than the actions excluded from the scope of the general power of attorney. 


    * in line with the announcement of 21 June 2017 the possibility of providing telephone and online services to natural persons was terminated as of 1 July, 2017.

  • How to revoke the power of attorney issued?

    The power of attorney can be revoked:

    • in person – at the distributor’s outlet by filing an instruction to revoke a power of attorney
    • by post - in the form of a notarial deed with a notarised signature
  • How to calculate the current sub-register value?

    Santander FIO and Santander Prestiż SFIO

    In order to calculate the current sub-register value, the number of participation units held should be multiplied by the current value of the participation unit in a given category.

    sub-register
    value
    =
    number of
    units
    x
    valuation of participation units
    on the respective day


    The sub-register value calculated in this way does not take into account the potential tax imposed on the Participant and the charges payable upon the sale or repurchase of participation units by the sub-fund.

  • What is the Participant number?

    The Participant number consists of eight digits (e.g. 12345678) from the sub-register number.

    From June 9, 2020, changes were made to the numbering of sub-registers.

    The rules for assigning numbering for sub-registers for Santander FIO and Santander Prestiż SFIO are the same. The numbers are presented in the following format (including dashes):

    UUUUUUUU 8-digit as the ID of the participation
    FF 2 digits as a sub-fund code
    NNN sub-fund number
    Y indicating the category of units for sub-register of units assigned to the specific category


    Sub-registers opened before 9/062020 will be presented on the same basis as before.

  • What are the unit categories?

    Santander FIO

    In Santander FIO, here are four categories of units: A, S, T and D.

    Participation units of different categories vary in terms of the manner of sale and the number of the management fee charged.

    Participation units of category AS i T are sold by the fund distributors, while participation unit of category D is sold directly by the fund.

    Santander TFI will inform about the start of the sale of participation unit of category D on the website: Santander.pl/TFI

    In addition, participation units of category A, S i T are sold depending on the value of Participant's investment. Participation units of category:

    • A are sold to Participants who invested a total amount of up to PLN 100,000 to all sub-funds,
    • S are sold to Participants, who invested minimum PLN 100,000 in all sub-funds,
    • T are sold to Participants who invested minimum PLN 1,000,000 in all sub-funds.

    In the case of Santander Small and Medium Caps Equity, participation units in individual categories may also differ in the amount of fees for investment results (more details here). The maximum rate of the fee for investment results is indicated in the prospectus of the Santander FIO fund, in Chapter 3 "Data on the Fund". More on the subject of the fee for the investment result in other question.

    Santander Prestiż SFIO

    In Santander Prestiż SFIO fund, there are two categories of units: B and D.

    Participation units of different categories vary in terms of the manner of sale and the number of the management fee charged.

    Participation unit of category B is sold by the fund distributors, while participation unit of category D is sold directly by the fund.

    Santander TFI will inform about the start of the sale of participation unit of category D on the website: Santander.pl/TFI

    In the case of selected sub-funds of Santander Prestiż SFIO, participation units in individual categories may also differ in the amount of fees for investment results (more details here). The maximum rate of the fee for investment results is indicated in the prospectus of the Santander Prestiż SFIO fund, in Chapter 3 "Data on the Fund". More on the subject of the fee for the investment result in other question.

    The maximum rates of management fees are indicated in the prospectuses of the fund Santander FIO and Santander Prestiż SFIO in Chapter 3 "Data on the Fund".

  • What is the confirmation of participation?

    The confirmation of participation is a document evidencing the settlement of a transaction: purchase, conversion or redemption of participation units. The document is generated and delivered by the transfer agent and sent by:

    • mail shipment to the correspondence address of the customer
    • or by e-mail to the indicated e-mail address of the customer (sending the confirmation of participation by e-mail requires the activation of the service in the distributor's branch).
    For orders regarding the IKE For orders via Santander internet regarding the Santander FIO For other orders
    immediately after purchasing the participation units resulting in opening the subregister the transaction summary for a given calendar year is sent at the beginning of the following year immediately after each transaction
    the transaction list for a given calendar year is sent within 30 days from the end of this year

    How to read the Confirmation of Participation?

     Sub-register number – number of the dedicated account on which the information about the number of participation units held by you in each sub-fund is recorded.

     Number of the bank account for direct payments denominated in PLN – a special, individual account for purchases opened for your sub-register. Using the account you can easily deposit more money in your sub-register. To invest more money, simply transfer the respective amount to the account. The account for direct payments is maintained in PLN.

     Name of the sub-fund in which you have invested.

     Order date – the date and time of the order receipt by the fund (it doesn’t equal the date and time of placing the order. In the case of purchase of units through a direct payment to the fund account, the order date shall be the date on which the fund account is credited with the money.

     Trade date – the day from which the valuation of the unit was the basis for the settlement.

     Opening balance of units – number of units recorded on your sub-register prior to the transaction.

     The number of units involved in the transaction.

     Value of the participation unit at which the order was settled.

     Unit class - class of units participation in your sub-register. The units classes differ in the amount of the management fee, and what category has been recorded in your sub-register depends on the total value of payments to the Santander FIO fund (or more strictly the value of all sub-registers according to the unit purchase price).

     Closing balance of units – the number of units recorded on your sub-register after all transactions executed on the valuation date have been settled. Knowing the number of units you can easily calculate the current value of your transaction, multiplying the number of units by their current valuation published on the Santander.pl/TFI website.

  • What do I have to do in order to receive confirmations of participation by email?

    The relevant statement can be submitted:

    • in person to the distributors’ outlets
    • via Santander internet (SANTANDER FUNDS tab)

    From the moment of execution of this order confirmations of participation will be sent in the form of password protected PDF files.

    Confirmations of transactions executed under Employee Pension Plans cannot be sent by electronic mail.

  • Is it possible to pledge participation units?

    It is possible to block participation units in relation to a pledge securing performance of obligations.

    Some or all participation units can be blocked.

  • What will happen with the participation units after the Participant’s death?

    Inheritance - participation units of a deceased person form part of the estate and are inheritable. In order to execute the inheritance process, the heirs have to submit to the distributor:

    • Participant’s death certificate,
    • effective legally binding court decision on the acquisition of inheritance rights (or a copy of a registered certificate of inheritance),
    • effective and legally binding court decision about the division of the estate, an agreement concluded by the heirs on the division of the estate or a unequivocal statement of all heirs made to the distributor regarding the allocation of the participation units.

    The process is executed in distributors’ outlets by the heirs or their proxies.

    Transmission by death - appointment of a person who, in the event of the Participant’s death will be entitled to receive cash proceeds from the redemption of participation units.

    The disbursement is made up to the amount equal to the twenty-fold value of the average monthly salary in the enterprises sector, excluding any distribution of profit, announced by the President of the Central Statistical Office and up to the total value of the participation units recorded on the Participant’s sub-registers.

    The provisions related to the Participant’s death apply to the fund. If the Participant has more than one sub-register, the transmission by death declaration shall apply to all sub-registers in the fund. If the Participant has participation units of Santander FIO and Santander Prestiż SFIO, he/she can appoint one authorised beneficiary for each fund.

    The instruction on transmission by death can be filed exclusively by the Participant.

    Appointment of a beneficiary by the Participant results in the exclusion of the covered assets from the inherited estate.

    NOTE: On 13 May, 2011 the process of transformation of Santander funds into Santander FIO funds. If you made more than one transmission by death declaration for the funds subordinated to the umbrella fund, the transformation of the funds may affect their exercise.

    Reimbursement of funeral costs - disbursement of money in order to reimburse the funeral costs without inheritance proceedings. The money will not be part of the estate inherited after the deceased Participant.

    If all participation units are covered by the transmission by death declaration or the inheritance proceedings have already started, reimbursement of the funeral costs will not be possible.

    Disbursement of the funeral costs reimbursement is made to a person who submits to the distributor’s outlet original invoices clearly evidencing payment of the costs of the Participant’s funeral. The invoices must be made to the name of the person/ entity who applies for the reimbursement of the funeral costs.

    The funeral costs shall include:

    • transport of the deceased person,
    • purchase of the cemetery plot,
    • purchase of the casket,
    • purchase of clothes for the deceased person,
    • grave opening and closing costs,
    • cremation,
    • purchase of flowers and wreaths,
    • installation of the headstone,
    • costs of a reception for persons attending the funeral (excluding alcohol).

    Pursuant to Art. 111 of the Funds Act, the funeral costs should correspond to customary expenses incurred and accepted in the respective community.

  • What are ongoing charges specified in the Key Information for Investors?

    Ongoing charges represent the sum of expenses incurred by the sub-fund (fund) in the accounting year, other than the costs directly associated with the investing activities of a sub-fund (fund) *. The ongoing charges include e.g. the management fee (specified in the fund’s statutes), taxes and other levies imposed by the competent public administration authorities, including license and registration fees.

    The ongoing charges’ rate specified in the Key Investor Information reflects the share of such costs in the average net assets value of the sub-fund in a given accounting year.

    *The costs directly associated with the sub-fund’s investing activities include in particular:

    1. brokerage fees and charges and taxes associated with the acquisition or purchase of the sub-fund’s portfolio assets;

    2. interest costs, such as premium amortisation and the costs of sub-fund’s loans and borrowings;

    3. performance of the obligations under the executed derivative instrument agreements;

    4. foreign exchange losses;

    5. income taxes (i.e. tax on dividend or interest income);

    6. performance fee (if any).

  • What happened to the subregisters that were conducted in the Special Investment Programs “Secure Start of Your Child” and "My Future"?

    Special Investment Programs "Secure Start of Your Child" and "My Future" (hereinafter: Programs) in the Santander FIO fund were conducted until November 2, 2017 inclusive.

    From November 3, 2017, sub-registers carried out under the Programs have become sub-registers maintained on general principles specified in the fund's statute.

    Thus, the participation agreements in the Programs and regulations, the integral part of agreements, do not apply.

    The rules for submitting and settling orders under sub-registers maintained on general terms and for the operation of the fund are described in the fund's information prospectus and schedule of fees and charges, available at the website Santander.pl/TFI.

  • Am I a Politically Exposed Person (PEP) or a family member or close co-worker of a Politically Exposed Person?

    Pursuant to the Act on Counteracting Money Laundering and Terrorist Financing, investment funds and management companies are obliged to verify whether customers are PEPs or PEP family members or close co-workers.

    The term Politically Exposed Person (PEP) shall mean:

    1. heads of state, heads of governments, ministers, deputy ministers, secretaries of state, undersecretaries of state, including the President of the Republic of Poland, the Prime Minister and the Deputy Prime Minister,
    2. Members of Parliament or other similar legislative bodies, including deputies and senators,
    3. members of governing bodies of political parties,
    4. judges of supreme courts, constitutional tribunals and other high-level judicial bodies whose decisions are not subject to further appeal, with the exception of extraordinary measures, including the judges of the Supreme Court, Constitutional Tribunal, Supreme Administrative Court, regional administrative courts and judges of courts of appeal,
    5. members of the court of auditors or central bank management boards, including the NBP President and members of the NBP Management Board,
    6. ambassadors, chargés d'affairs and senior officers of armed forces,
    7. members of administrative, management or supervisory bodies of state-owned enterprises, including directors of state-owned enterprises and members of management boards and supervisory boards of companies with the State Treasury shareholding, where over a half of stocks or shares belongs to the State Treasury or other state legal persons,
    8. directors, deputy directors and members of governing bodies of international organisations, or persons exercising corresponding functions in such organisations, and
    9. directors general in offices of supreme and central state authorities, directors general of regional government offices and heads of local offices of special governmental administration;

    Family members of Politically Exposed Persons (as defined above) are:

    1. spouses or persons staying with them in cohabitation,
    2. children of politically exposed persons and the spouses of those children or other persons staying in cohabitation with them,
    3. parents of politically exposed persons;

    Close co-workers of Politically Exposed Persons (as defined above) are:

    1. natural persons being beneficial owners of legal persons, organisational units without legal personality or trusts, jointly with a politically exposed person, or maintaining other close relationship with such a person, related to the economic activity pursued,
    2. natural persons being the only beneficial owners of legal persons, organisational units without legal personality or trusts, regarding which it is known that they were established in order to enable gaining actual benefits by a politically exposed person;

Individual Retirement Account (IKE)

  • Which Santander FIO sub-funds are available under the Individual Pension Account (IKE) plan?

    IKE is available in all Santander FIO sub-funds. The list of sub-funds within which IKE is available is given in the Regulations of maintenance of IKE published on the website Santander.pl/TFI.

    The agreement on the maintenance of IKE may be executed in the branches of Santander Bank Polska.

  • What are the minimum payments to IKE?

    The initial payment to the sub-register is PLN 500 and the subsequent ones are PLN 100.

  • What is the limit of payments to IKE in 2021?

    The maximum amount of payments to IKE in a given calendar month cannot exceed the amount equal to the triple value of the forecasted average monthly wages in the domestic economy in the respective year, as set forth in the budget act or the provisory budget act.

    If the Saver is a minor person, the payments made to IKE cannot exceed the value of his/her income generated in a given year under an employment contract.

    In 2021, the maximum amount of payments to IKE is 15 777.00.

    When the amount of money in a given calendar year exceeds the limit, the Fund will promptly notify the Saver about it and return excess funds.

  • What are the fees charged in relation to IKE?

    The following fees are payable:

    • exit fee – in the amount of 1% upon Refund or Transfer Disbursement up to and including 6 months. In the case of participation units recorded on the sub-register for more than 6 months, the exit fee is not charged.
    • conversion fee – charged upon conversion on the participation units recorded in the register -up to and including one month. In the case of participation units recorded in the sub-register for more than 1 month, conversion fee is not charged.
  • Is it possible to file a conversion order in IKE?

    Yes. Conversion of participation units between IKE sub-registers is possible.

Detailed information about Santander FIO and Santander Prestiż SFIO funds, including the financial data, description of risk factors and information on fees related to participation in funds can be found in the prospectuses and schedule of fees and charges available in Polish on Santander.pl/TFI and from the distributors of the funds.

The sub-funds cannot guarantee achievement of the adopted investment objective or the expected return. Prior to making an investment decision, the Participant should review the fees charged by the sub-fund and take into account the potential tax imposed on the gains. The Participant has to take into consideration the possibility of losing at least part of the invested capital.