Instruction for Compiling the Monthly Statistical Report of an Investment Fund (IFON) – Applicable from 1 January 2023

INSTRUCTION
FOR COMPILING THE MONTHLY
STATISTICAL REPORT OF AN
INVESTMENT FUND
Zagreb, January 2023

C O N T E N T S
1 INTRODUCTION...................................................................................................................................4
2 REPORTING POPULATION AND INSTITUTIONS OBLIGATED TO SUBMIT REPORTS5
3 REPORTING RULES ..............................................................................................5
3.1 Reporting Frequency and Data Submission Deadlines......................................................5
3.2 Type of Report ..................................................................................................................6
3.3 Format and Data Submission Channel.....................................................................................6
3.4 Reporting of Amounts ........................................................................................................6
3.5 Level of Reporting........................................................................................................7
4 REPORTING REQUIREMENT....................................................................................................7
4.1 Concept of the Reporting Requirement....................................................................................8
4.2 Header Description..................................................................................................................9
Attribute 1. "Report Code".............................................................................9
Attribute 2. "Reporting Date" ...........................................................................9
Attribute 3. "OIB of the Investment Fund".............................................................10
Attribute 4. "Name and Surname of the Contact Person" .......................................................10
Attribute 5. "Contact Person's Telephone Number" .................................................................10
Attribute 6. "Contact Person's E-mail Address" .......................................................10
Attribute 7. "Note" ...................................................................................10
4.3 Item Record Description...........................................................................................................11
4.3.1 Attributes enabling identification of the item, instrument and its characteristics .......................................................................................................11
Attribute 8. "Item Serial Number".........................................................................11
Attribute 9. "Instrument" ...................................................................................11
Attribute 10. "Currency" ..........................................................................................21
Attribute 11. "ISIN" .............................................................................................21
Attribute 12. "Indexation Currency" .......................................................................22
Attribute 13. "Original Maturity" ........................................................................23
Attribute 14. "Relative Variable"........................................................................25
4.3.2 Attributes enabling identification of the counterparty ........................................25
Attribute 15. "Country Code" ............................................................................26
Attribute 16. "OIB of the Resident" ..............................................................................27
Attribute 17. "Non-Resident Sector".......................................................................28
4.3.3 Attribute enabling identification of the amount type..........................................32
Attribute 18. "Amount Type".................................................................................32

Attribute 19. "Amount" ............................................................................................38
4.4 Reporting in cases of merger, consolidation, division and termination..................................39
4.4.1 Consolidation ...............................................................................................................39
4.4.2 Merger .............................................................................................................41
4.4.3 Division .................................................................................................................43
4.4.4 Termination..............................................................................................................47
4.5 Reporting rules in specific cases...........................................................................................48
4.5.1 Rules for reporting quantities of securities in specific cases ...48
4.5.2 Example of displaying discounted securities ............................................49
4.5.3 Rules for reporting FX spot and forward transactions ................................................51
5 INSTRUCTION FOR SUBMITTING THE MONTHLY STATISTICAL REPORT OF AN INVESTMENT FUND VIA TELECOMMUNICATIONS...............................59
5.1 Introduction .............................................................................................................................59
5.1.1 Standard file characteristics ......................................................................59
5.1.2 File content...................................................................................................59
5.2 Content control of records.............................................................................................60
5.2.1 Header ..............................................................................................................60
5.2.2 Items ..................................................................................................................60
5.2.3 Horizontal controls ..........................................................................................62
5.2.4 List and detailed description of controls...............................................................................62
5.2.4.1 Error list .........................................................................................63
5.2.4.2 Warning list ...................................................................................70
5.3 Correction of submitted data......................................................................................78
5.3.1 Return file with processing status .................................................................78
5.3.2 Contact persons ......................................................................................................80
6 LIST OF APPENDICES ...............................................................................................................80

1 INTRODUCTION

1. The Croatian National Bank (hereinafter: HNB) collects statistical data from investment funds in the Republic of Croatia through this reporting system. The collected data will be used by HNB to produce official statistics within its competence, such as: financial accounts, balance of payments, monetary and financial institutions' financial statistics and investment funds statistics, securities statistics and other statistics, as well as for reporting purposes in accordance with the requirements of the European Central Bank (hereinafter: ECB) and the statistical office of the European Union (EUROSTAT).
2. Data from investment funds will be collected via the secure HANFA website.
3. The legal basis for collecting statistical data from investment funds includes: the Act on the Croatian Financial Services Agency (NN, nos. 140/05, 154/11 and 12/12), the Act on Open Investment Funds with Public Offering (NN, nos. 44/16, 126/19, 110/21 and 76/22), the Act on Alternative Investment Funds (NN, nos. 21/18, 126/19, 110/21), the Regulation on the structure and content of annual and semi-annual reports and other reports of UCITS funds (NN, nos. 105/17, 98/20) and the Regulation on the structure and content of annual and semi-annual reports and other reports of alternative investment funds (NN, nos. 16/19, 82/2019, 31/2020, 98/20).
4. The obligation to collect, compile and submit statistical data to competent institutions of the European Union is prescribed by ECB Regulation No. 1073/2013 concerning statistics on assets and liabilities of investment funds (ECB/2013/38), ECB Regulation No. 1071/2013 concerning the balance of the sector of monetary financial institutions in part relating to money market funds (ECB/2013/33), ECB Guidelines on statistical data submitted by financial intermediaries that are not monetary financial institutions (ECB/2021/12), Regulation (EU) No. 549/2013 of the European Parliament and of the Council on the European System of National and Regional Accounts (ESA 2010) and ECB Guidelines on statistical reporting requirements in the field of financial accounts (ECB/2013/24).
5. An integral part of this Instruction comprises:
    the file "IFON.xls" which contains appendices supporting the Instruction, and  the corresponding XSD file which the Investment Fund Management Company (hereinafter: IFMC) must adhere to when compiling the monthly statistical report.

2 REPORTING POPULATION AND INSTITUTIONS OBLIGATED TO SUBMIT REPORTS
6. The reporting population consists of all investment funds established in the Republic of Croatia under the Act on Open Investment Funds with Public Offering (NN, nos. 44/16, 126/19, 110/21 and 76/22) and the Act on Alternative Investment Funds (NN, nos. 21/18, 126/19, 110/21), which have operational approval from the Croatian Financial Services Agency (hereinafter: HANFA) or are established by a special Act, provided that they were active for at least one day within the reporting period.
7. For the purposes of this reporting system, a newly established investment fund was considered active if it executed its first transaction, or issued at least one share/unit.
8. Institutions obligated to compile and submit the monthly statistical report of investment funds defined by this Instruction are Investment Fund Management Companies (IFMC) as legal representatives of the investment funds they manage, and closed AIFs with internal management (Art. 4, para. 5 of the Act on Alternative Investment Funds (NN, nos. 21/18, 126/19, 110/21)).
3 REPORTING RULES
3.1 Reporting Frequency and Data Submission Deadlines
9. The statistical report defined by this Instruction is submitted on a monthly basis.
10. The submission deadline for the monthly statistical report is prescribed depending on the type of investment fund's investments:

1. For money market investment funds, by the end of the 6th working day after the end of the reporting period, i.e., the month;
2. For all other types of investment funds, by the end of the 18th working day after the end of the reporting period, i.e., the month.
3. For the purposes of this Instruction, working days in a week are understood as Monday through Friday, excluding holidays.
4. The IFMC's reporting obligation for a specific investment fund is considered fully and properly fulfilled if the report meeting all formal and logical controls described in Chapter 5 (technical part) of this Instruction is received on the HANFA server within the prescribed deadline.

3.2 Type of Report
13. The monthly statistical report submits unrevised data on an unconsolidated basis. The term "unrevised" denotes a report in which data have not been revised by the authorized auditor of the reporting institution.
3.3 Format and Data Submission Channel
14. Data are submitted in the form of an XML file. The submission of reporting XML files is carried out via the secure HANFA website, regardless of whether it is an initial submission or a correction. The website address and reception interface are defined by HANFA.
3.4 Reporting of Amounts
15. Each item must contain an amount that, depending on the type of amount, refers to monetary value or quantity.
16. All amounts are expressed rounded to two decimal places.
17. The amount is generally shown as a positive value, unless the description of modalities explicitly states that the amount is to be shown with a negative sign.
18. The unit price associated with instrument I007 is exceptionally expressed in the original currency of issuance of the unit.
19. Amounts associated with all other instruments are expressed in euros and cents or absolute numbers rounded to two decimal places.
20. The euro equivalent of amounts for all instruments denominated in foreign currency (except I007) is calculated by applying the average exchange rate of HNB, whereby:

• for converting balances, the average HNB exchange rate on the last day of the reporting period is used;
• for converting transactions and realized price adjustments, the average HNB exchange rate on the transaction date is used;
• for converting unrealized price adjustments, the average monthly HNB exchange rate in the reporting period is used;
• for converting write-offs (debits), the average HNB exchange rate on the date of the decision to write off is used, or if that is not possible, the average monthly HNB exchange rate.
  The euro equivalent of amounts for all instruments denominated in foreign currency (except I007), which is not listed on the HNB exchange rate list, is converted to EUR by applying the HNB exchange rate list for other currencies that do not quote on the Croatian foreign exchange market.

21. The euro equivalent of amounts for all instruments (except I007) contracted with a currency clause is calculated by applying the contracted exchange rate.
22. For all debt securities not converted to EUR, the quantity is submitted in EUR by dividing the quantity in HRK (which is recorded in the SKDD registry) by a fixed conversion rate, rounded to two decimal places, in accordance with general rules for recalculation and rounding under Art. 14 of the Act on the Introduction of the Euro as the Official Currency in Croatia (NN nos. 57/22, 88/22).
23. For all securities (debt and equity) for which the issuer has not performed conversion to EUR (in the SKDD registry and at the commercial court), the Currency attribute must be reported with the EUR currency code in the monthly report of the investment fund (IFON).
    3.5 Level of Reporting
24. For instruments Investments in debt securities (A003), Investments in shares (A012), Investments in investment funds (A014), Options (A004 and P003), Futures contracts – maturities (A007 and P006), Warrants (A008 and P007), Issued units/shares of the investment fund (P001), Securities received or given as collateral based on repo transactions (I001, I002, I003, I004, I005 and I006) and Unit Price (I007), reporting is performed at the ISIN level, i.e., at the counterparty level.
25. For other instruments, the reporting level is:
26. For resident natural persons collectively using a predefined OIB: 11111111111;
27. For resident self-employed persons collectively using a predefined OIB: 22222222222;
28. For other residents at the counterparty level, i.e., OIB; and
29. For non-residents collectively at the counterparty sector and country level.
    4 REPORTING REQUIREMENT
30. The data collected via the monthly statistical report enables regular compilation and presentation of balances, transactions and other changes in financial instruments of assets and liabilities of investment funds within the Republic of Croatia.

4.1 Concept of the Reporting Requirement
27. The reporting system is based on a report record consisting of a header record and an item record.
28. The header consists of attributes that identify: the report code, reporting date and reporting unit, i.e., the investment fund.
29. The items consist of attributes that identify: the item, instrument and its characteristics, counterparty description, type of amount and amount.
30. A schematic representation of the report record for the monthly statistical report is shown in Appendix 1, IFON.xls table.
31. The subject of reporting is an amount that needs to be uniquely described by:

1. attributes identifying the type of report and reporting date to which the data relate;
2. a set of attributes identifying the reporting institution;
3. a set of attributes identifying the instrument;
4. a set of attributes identifying the counterparty;
5. an attribute identifying the type of amount for which the amount is submitted.
6. Types of amounts for which data (amounts) are submitted in reporting records relate to:
7. balances on the reporting date, i.e., on the last day of the reporting month according to the accounting policy of the investment fund, whether they are market values, fair values or other forms of bookkeeping recording balances. Balances are submitted separately for:
   a. principal – undue principal (amount type 01) and due principal (amount type 16); b. interest/dividend – undue interest/dividend (amount type 02) and due interest/dividend (amount type 03);
8. transactions during the reporting month – transactions include increases and decreases and are shown, like balances, separately for:
   a. principal – increase (amount type 04) and decrease (amount type 05); b. interest/dividend – increase (amount type 19) and decrease (amount type 20);
9. price adjustments during the reporting month (amount type 06);
10. write-offs (debits) during the reporting month are shown separately for:
    a. principal (amount type 17); b. interest/dividend (amount type 18);
11. quantities of securities, on the reporting date, i.e., on the last day of the reporting