Accumulating / reinvesting share certificate class

In the case of accumulating share classes, the income generated by the fund is not paid out to investors. Instead, it is automatically reinvested in the fund. This increases the fund's assets in the long term and, as a rule, also the calculated value (share price). Investors thus participate in the increase in value of the fund, not in ongoing payouts.

In Austria, reinvested income is also subject to capital gains tax (KESt). This is distributed from the fund's assets and paid to the tax authorities. This does not require any additional action on the part of investors.

In contrast, there are distributing share classes. Here, the income is paid out to investors on a regular basis.