Nordnet Småbolag Sverige omistajille luettavaa.
The term Net Index that Nordnet uses means that the return that JP Morgan provides the fund with is net, i.e. 30% tax has been deducted on the underlying hypothetical shares. If Nordnet had launched the fund in its already existing Swedish fund company and instead of synthetic replication had bought exactly the same shares for real, the fund unit holders would have received a share of the shares’ value development and dividends without deduction of 30% tax. This is because Swedish fund legislation states that funds receive dividends tax-free. The idea is that unitholders should not have to pay tax on the same value development twice when they then pay 30% tax on the profits on the securities account when they sell the fund or standard tax on their investment savings account or their endowment insurance.
Nordnet estimates that the expected annual dividend rate on the underlying shares is 2%. This means that fund unit holders lose 30% of it, i.e. 0.6% on an annual basis.