Buying and Selling Funds
When you trade a fund, you buy or sell shares in it. Unlike stocks, funds are always traded at an unknown price, called the NAV (Net Asset Value). The price is calculated once per day, after the cut-off time.
Saving in funds involves risk.
How to Buy Funds
To buy a fund, you choose an amount to invest. You do not choose the number of shares directly. The number of shares you receive depends on the fund’s NAV price calculated after the cut-off time on your order day.
For example: investing 10,000 SEK in a fund priced at 100 SEK per share gives you 100 shares.
How to Sell Funds
When selling, you can specify an amount or choose to sell your entire holding. The proceeds are credited to your settlement account within two banking days. For Asian Sustainable Stars Fund, Global Emerging Markets, and Japan Fund, three settlement days apply.
Choosing the Right Fund
When selecting a fund, consider the following factors:
Category and Region
- Equity funds, bond funds, mixed funds, or index funds
- Global, regional (Europe, USA, Sweden), or thematic focus
Sustainability
Many funds integrate ESG criteria. Quartal’s Sustainable Selection includes funds screened for environmental, social, and governance standards.
Active vs. Passive Management
- Active funds: a manager selects holdings actively. Fees are typically higher.
- Passive (index) funds: mirror a benchmark index. Fees are lower.
Morningstar Rating
Morningstar rates funds on a 1-to-5 star scale based on historical risk-adjusted returns. A higher rating reflects past performance only and does not guarantee future results.
Fees
Compare management fees across comparable funds. Higher fees do not always mean lower returns, particularly for active or specialist funds. Explore all available funds in the fund list.
Risk Level
Risk is rated on a 1-to-7 scale. Choose a level consistent with your investment horizon and tolerance for loss.
Cut-off Times
Orders placed before the cut-off time are valued at that day’s NAV price. Orders placed after the cut-off time are valued at the next banking day’s price.
| Fund Group | Cut-off Time |
|---|---|
| Most Quartal funds | 15:30 |
| Quartal China Fund, India Fund, European Sustainable Stars | 14:00 |
| Nora funds, Conservative/Balanced/Growth/Return Responsible, Global Bonds Responsible | 12:00 |
| Global Emerging Markets, Japan Fund | 15:30 (priced next banking day) |
For external funds, refer to the individual fund’s prospectus for its cut-off rules.
Settlement Days
After a sell order is executed:
- Most Quartal funds: money credited within 2 banking days
- Asian Sustainable Stars, Global Emerging Markets, Japan Fund: 3 banking days
After a buy order is executed, the settlement amount is debited from your account 2 banking days after the valuation date.
Fund Trading on Holidays
Funds are not priced on holidays in the country where they are registered. Quartal funds are registered in Sweden, Finland, or Luxembourg.
You may still place an order during a holiday. It will be executed at the next available banking day’s price.
Funds Affected by Swedish Holidays (Order deadline: 12:00 on the preceding banking day)
| Equity Funds | Fixed Income Funds |
|---|---|
| Institutional Equity Fund Sweden | Institutional Fixed Income Fund Long-term Investments |
| Quartal Alfa | Quartal Mortgage Bond Fund |
| Quartal Sweden Passive | Quartal Bond Fund |
| Quartal Ideal Equity Fund | Quartal Private Banking Fixed Income Portfolio |
| Quartal Small Cap Fund Sweden | Quartal Swedish Bond Stars |
| Quartal Swedish Stars |
This applies to direct fund savings, Investment Savings Account (ISK), and insurance and pension products linked to funds.
Currency Exchange
When trading a fund quoted in a currency other than SEK, Quartal automatically converts your order. The conversion cost is currently 0.25% and is deducted from your order amount.
Example: A purchase of 10,000 SEK in a EUR-denominated fund at an exchange rate of 10 SEK/EUR results in a conversion cost of 2.50 SEK, and you receive fund units worth 9,997.50 SEK.
Canceling an Order
Orders can be canceled up to the cut-off time by visiting “My Transactions” in the online bank. Confirmation of cancellation must be received before the cut-off time. Orders cannot be reversed after the cut-off time has passed.
Reallocating Between Funds
Reallocation moves your investment from one fund to another. This is only possible between funds with the same cut-off times on the same account. For funds with different cut-off times, you must sell first and place a separate buy order.
Reallocations generate a capital gain or loss event.
When Funds Close or Postpone Trading
In extraordinary market conditions, a fund may postpone or suspend trading. In these cases:
- The fund company must notify the Financial Supervisory Authority.
- Unit holders are informed via the Quartal website.
- Orders placed during a closure are dated and executed when the fund reopens.
If more than 30% of a fund’s holdings trade on a closed market, trading in the fund may be postponed.
Minimum Investment
The minimum initial investment in Quartal funds is 100 SEK. For some institutional funds, higher minimums apply. Explore our Sustainable Selection in the fund list.
