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Investment guide | NKBM

At the bank, we are committed to a prudent method of investing in funds.

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At the bank, we strive for a wise choice of investments and give our clients a detailed understanding of mutual fund investments and related conditions and costs.

Licensed professionals make sure clients get products suitable to their wishes and needs.

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Investor profile

Define your attitude to risk.

It serves as a guideline for suitable investments.

The basis for doing business with mutual funds (also in Bank@Net and mBank@Net).

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Advantages of investment in mutual funds

Easy access to financial markets.

No strings attached.

Great dispersion.


Our commitment

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A selection of the highest quality foreign and Slovenian management companies.
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Digital solutions.
Your commitment
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Choose a fund suitable for your profile.
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Define your goals and when you want to achieve them.
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Invest now and regularly.
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Invest for the long term.
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Stay true to your investment goals.
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Track your investments in Bank@Net and mBank@Net.

Everything you need to know about mutual funds investment

What is a mutual fund and how does it work?
A mutual fund is a pool of assets of small and individual investors with the purpose of investing in securities such as shares, bonds, derivative financial instruments, and other forms of investment (raw materials, money, deposits, etc.). The management of the fund is always per the fund's investment policy, which is described in the rules of operation and the extract from the prospectus of the individual mutual fund.

Mutual funds are managed by professional and experienced asset managers.
Assets of mutual funds are managed by investing in shares, bonds, short-term securities, bank deposits, and other investments, depending on the type and investment policy of the individual mutual fund. The owners of mutual funds are investors who invest money in them and thereby buy units of the mutual fund. By paying into the fund, the investor becomes the owner of a proportional part of the mutual fund's assets. The company manages the fund exclusively for the benefit of the fund owners or investors.

What is meant by diversification of investments in mutual funds?
The mutual fund consists of investments in securities of various issuers. DZU allocates the funds of the mutual fund in different types of investments. Considering that the assets of the mutual fund consist of a large number of investments, the impact of one unprofitable investment on the assets of the mutual fund is very small.

A greater number of investments in the securities of companies with a high credit rating and the appropriate diversification of these investments thus ensure greater investment security.

A mutual fund could theoretically fail if all issuers of securities (companies, state institutions, banks, etc.) in the fund's portfolio fail at the same time.
What is the return on mutual funds?
The profitability and level of security in mutual funds depend on the type of mutual fund chosen.

Bond funds (government investment and/or corporate bonds) generally achieve a lower annual return and at the same time offer a higher level of security (a lower volatility).

As a rule, equity funds achieve a higher long-term (recommended minimum investment period is 10 years) average return and are more volatile at the same time.

Mixed funds are a combination of the above-mentioned types of mutual funds and generally offer a combination of returns and safety.

The profitability of mutual funds is not guaranteed, as mutual funds depend on the movement of securities on the stock exchange.
What is DZU?
DZU is an abbreviation for a management company. DZU is an independent legal entity with separate assets from those of investors (mutual fund assets).

DZU is the company that manages the fund's assets.

Investors need to know that in case of bankruptcy of the company, this does not affect their assets in mutual funds. In this case, another DZU will take over the management of the funds.
How do investments in funds affect social transfers?
Little or nothing for the vast majority of investors.

How do investments in funds affect child allowance, state grants, and kindergarten subsidies?
The short answer is: for the vast majority of investors, little or nothing.
The state understands that the family creates and needs assets and savings.

The rights are determined based on income and assets.
The right to child allowance, state scholarship, and kindergarten subsidy is determined on the basis of the family's income in the previous calendar year and the family's assets.
If the amount of the family's monthly income has changed significantly (for example, for at least three months in a row, the parent receives a lower salary than in the previous year), the general income of the family is taken into account based on such a changed inflow.

Income is generally everything that is subject to income tax.
Investments in mutual funds are considered family assets.

Many assets are NOT considered:
  • apartment or a house in which a person actually lives and which does not exceed suitable square footage - for example, for a family of two, 90 m2, for a family of four, 130 m2
  • a personal vehicle worth up to 10,781.14 EUR and personal vehicles adapted for the transport of disabled
  • an asset that is paid off on a lease
  • assets that are a source of income for the family, for example, business premises, machinery, land (agricultural, forest, and water) that provide income
  • funds in the voluntary supplementary pension insurance account
  • money in the account from an unused home loan
When making a property value assessment, which is taken into account when deciding on the rights, the family is entitled to a reduction in the amount of 48 times the basic amount of the minimum income, which is currently 18,852 euros.
Therefore, if the family's assets do not exceed 18,852 euros, it has no effect on the right to child allowance at all.
If the family's assets exceed this amount, the difference in assets is taken into account as providing a fictitious annual income comparable to fixed deposits over one to two years - currently 0.40%.

Let's look at an example of the influence of a family's assets on the amount of the basis for determining the child allowance, state scholarship, and/or subsidy for kindergarten.
In a family of four, both parents are employed with an average monthly salary in Slovenia, so they can absolutely apply for child allowance, state scholarship, and kindergarten subsidies. They are concerned about how the family's assets will affect the amount of rights or subsidies.
The family lives in an 85 m2 apartment (it is not included in the assets, because it is less than 130 m2), and has a one-year-old car, which is worth another 12,500 euros (only the difference from the exemption is included in the assets), and another car, 8 years old (it is not included in the property, because it does not exceed the value of 10,781.14 euros).
Each family member has a savings deposit at the bank, where the parents each have 8,000 euros and the child 500 euros each, and the mother also has 3,000 euros in mutual funds.



Type of property

Amount in €

Considered value in €


Savings in the bank




Personal car




Savings in the bank




Securities - fund



Child 1

Savings in the bank



Child 2

Savings in the bank







Decrease in property value

48 basic amounts of minimum income



The total amount of assets taken into account




Fictitious income from the amount considered





Therefore, this family's assets increase the amount for the assessment of entitlement to child allowance, state scholarship, and/or subsidy for kindergarten by 11.46 euros per year.

The system is explained in detail in Act on the enforcement of rights from public funds (ZUPJS)
It is also explained on the page Ministries of Labour, Family, Social Affairs and Equal Opportunities.

Warning: The Nova KBM is not competent to calculate the basis for determining the rights of the family, the centers for social work are responsible for this on the basis of the Application for the exercise of rights from public funds. The article is prepared on the basis of current legislation and explanations on the website of the competent ministry with the aim of outlining the system for determining the basis for rights. A detailed explanation is available in the Act on the enforcement of rights from public funds.
Can I buy, sell and transfer funds between mutual funds myself?
After the first visit, when your investor profile has been prepared and we have the appropriate documentation for you - the application form, which you prepare in our branches, you can arrange investments in mutual funds in all our branches, and now also by yourself through Bank@Net and mBank@Net.

Online and mobile transactions (buying, selling, and transferring) with mutual funds Sava Infond and Raiffeisen Capital Management are available. For the time being, Triglav Funds are available to view and purchase existing mutual funds.
What types of funds do we know?

Umbrella fund – Sava Infond and Triglav Funds

An umbrella fund is a fund that has sub-funds under its umbrella (equity, mixed, and bond funds). The advantage of an umbrella fund is that transitions between sub-funds are free and not taxed. The investor can switch between different sub-funds and thereby optimize his investment.

Fund of funds – Raiffeisen Capital Management (RCM)

For funds of funds (Sicherheit, Ertrag, and Wachstum) it is considered that there is a greater number (up to 20) of funds in the investment portfolio itself. The difference between an umbrella fund and a fund of funds is that the investor has no influence on which funds are in the portfolio and what ratio. Experienced and professional asset managers take care of the range of funds and the relationship between them.

Equity mutual funds

Equity mutual funds invest in shares of various companies. In these funds, the investor is expected to generate higher returns in the long term. Such investments are subject to higher volatility and are more dependent on economic conditions. They are suitable for investors who have an investment period of 10 years or more.

Mixed mutual funds

Mixed funds invest in equity and bond investments. The purpose of this type of fund is to reduce exposure to only one investment class. Mixed (balanced) funds are intended for investors who want to have balanced exposure to both investment classes. Namely, debt securities (bonds) offer a lower yield (a lower volatility), while equity investments offer a higher yield (higher volatility). The recommended investment period is 8 years and more.

Bond mutual funds

Bond funds invest their assets mainly in government and corporate bonds. These types of funds are less exposed to volatility and, as a result, bring lower returns. They are especially suitable for investors who want a calm investment with lower returns. The recommended investment period is 5 years and more.

What is VEP and how is it calculated?
VEP is an abbreviation for the value of a unit of property. It tells us how much one unit of the fund's assets is worth on a given day.

VEP is calculated for business days by deducting liabilities and provisions from the fund's total assets and dividing the resulting difference by the number of all assets in circulation. The number of units in circulation increases or decreases depending on deposits and/or withdrawals of funds from the fund.
Where can I monitor deposited funds?

In our bank, we provide all investors with a 24-hour view of the value of deposited funds in the online and mobile bank. A condition for access is signed consent (Sava Infond).

You can also inquire about the status of your investment from investment experts in all Nova KBM branches.

Who are mutual funds suitable for?
In mutual funds you can a wide variety of profiles upload funds:
  • natural and legal persons,
  • young and old,
  • experienced investors and investors who are encountering investment in mutual funds for the first time,
  • conservative and dynamic investors,
  • investors with large assets and individuals who want to save with monthly payments.
What is capital gains tax?
Investors in the Republic of Slovenia are obliged to pay capital gains tax in case of a payout:

Investment period

Amount of tax on capital gains

0 – 5 years


5 – 10 years


10 – 15 years


over 15 years

no capital gains tax

How do I activate Bank@Net and mBank@Net?
The login information is the same for both channels. You need a tax number and a mobile phone, a payment card, then you can register yourself in just 1 minute (the process is the same if you do it via phone or computer). See how simple it is here.

Do not overlook:

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Investment period and objectives.

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Long-term or short-term investment?

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Payment options.

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Brochure of the Consumers' Association of Slovenia and the Association of Management Companies.

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Proper portfolio structure

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One time payment

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Monthly payment

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Combination of one-time and monthly payments

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  Investment flexibility

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What to do if exchange rates fluctuate?

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Exchange between funds

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Entry and management fee

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Where can I track my investment?

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Capital gains tax

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Exit costs

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How do I withdraw my savings?


After completing the first declaration of accession and creating an investor profile, which you edit in the branch, you can then do business with mutual funds Sava Infond and Raiffeisen Capital Management yourself (buy, sell, or transfer fund units). For the time being, Triglav Funds are available to view and purchase existing mutual funds.

If you are not yet a Bank@Net or mBank@Net user, activate it yourself in just 1 minute.

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ESG investments

Investors who are aware of sustainability and social responsibility can choose from such funds managed by RCM, Sava Infond, and Triglav Skladi.


Title of VP



Nachhaltigkeit Rent


Nachhaltigkeit Mix


Nachhaltigkeit Momentum


Nachhaltigkeit Europa Aktien


Nachhaltigkeit US Aktien


Nachhaltigkeit Emereging Markets Aktien


Raiffeisen Health and Wellbeig-ESG-Aktien


Nachhaltigkeit Aktien


Nachhaltigkeit Mega Trends ESG Aktien


Družbeno odgovorni



Infond mutual funds are managed by the company Sava Infond, družba za upravlenje d.o.o., mutual funds Raiffeisen Capital Management (hereinafter: RCM) are managed by the company Raiffeisen Kapitalanlage - Gesellschaft mbH, BNP Paribas funds are managed by BNP Paribas Investment Partners, funds Allianz Global Investors Fund are managed by the company Allianz Global Investors Luxembourg SA, Deka Investmentfunds funds are managed by Deka International SA, Luxembourg.

The companies Allianz Global Investors Luxembourg SA and Deka International SA, Luxembourg have decided to deregister all their mutual funds in Slovenia.

Marketing, distribution, and payments of Infond funds and RCM and BNP Paribas funds in Slovenia are carried out by Nova KBM d.d.

Mutual funds are not a banking service and do not provide guaranteed and guaranteed returns. Investments in mutual funds are not covered by the deposit guarantee system, which applies to deposits of individuals and small legal entities in transaction accounts, savings deposits, cash deposits, and cashier's notes, which are registered in the name, and collected at banks and savings banks.

A prospectus with included management rules for each Infond fund or The Sales Prospectus, Key Information for Investors, and Annual and Semi-Annual Reports are available free of charge on the websites of the Infond Funds, RCM Funds, and BNP Paribas in the Mutual Funds section, at the headquarters of Nova KBM dd and all branches of Nova KBM d.d.

Due to fluctuations in the exchange rates of securities and currencies, it is possible that the investor will not get back all the funds he invested in the mutual fund during the investment period. Data on changes in the value of RCM and BNP Paribas mutual fund units are published daily in the newspaper Časnik Večer. Entry fees or the distribution fee for individual funds is mostly between 0 and 3 percent of the amount paid. There is no exit fee, the management fees of individual funds can be seen on the websites of Infond funds, RCM funds, and BNP Paribas.

The information on this website is not an offer, a recommendation to buy or sell, nor an investment analysis, and does not constitute investment advisory services, but is informational only.

To obtain information on the suitability of an individual investment and accurate data regarding investment in a mutual fund, the investor or the potential investor contacts his financial advisor or the enrollment office.
Natural persons:
  • valid personal document (identity card, passport, or new driver's license),
  • certificate of tax number,
  • personal account number (we recommend an account with Nova KBM for faster transfer of funds).

Legal entities:
  • an extract from the court register, which is not older than three months,
  • tax number of a legal entity,
  • business account number,
  • personal document of the legal representative,
  • tax number of the legal representative,
  • form with data on natural persons who have at least 25% of the management rights in the legal entity.
For more detailed information on the arrangement of contractual documentation for legal entities, we are available in the Investment Banking and Custodial Services Department.
You can use different payment methods to save or invest funds in mutual funds:
  • individual or one-time payments,
  • monthly payments (an option of concluding a permanent loan/direct debit),
  • a combination of both options (you pay the larger amount once, but you also enter into a monthly recurring/direct debit).

We do not charge a fee when paying into mutual funds with a payment order at Nova KBM branches.

Stories from our customers

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Saving for retirement

"When I was younger, I never thought about retirement because retirement seemed so far away."


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Saving for children's education

"Parental responsibility for me is primarily that my partner and I ensure long-term family financial stability."


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Low interest rates on bank deposits

" I spent a large part of my life trying to save an amount that would give me financial security. "


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