At Homaio, we allow you to invest in emission allowances in the “purest” way possible.
Emission allowances (EUA, UKA) form the underlying assets.
These allowances are encapsulated in corporate bonds (without coupons or interest), which allows you to invest in them easily through the platform.
The value of the bond is indexed to the underlying asset. Thus, when you make a purchase, if an EUA is €80, the bond is also €80. Throughout the life of your investment, the value of your bonds will be equivalent to the value of the underlying allowances.
Bonds are not held in a tax wrapper.
You see a difference between your number of bonds and your number of allowances?
There are two reasons why this may occur:
1. You invested trough a private placement (before September 2024)
Before September 2024, some bond programs offered as part of private offerings had a fixed nominal value of €100 per bond, regardless of the exact price of the underlying allowance at the time of investment.
Result:
The number of bonds you hold corresponds to €100 securities;
The quantity of underlying allowances (EUA or UKA) that these bonds represent depended on the actual price of the allowance at the time of your investment.
2. Management fees are deducted in underlying allowances
At Homaio, management fees are deducted directly in the form of allowances (EUA or UKA). This means that over time, a very small quantity of the underlying asset is removed to cover fees.
Consequence:
The quantity of allowances associated with your investment decreases slightly;
The number of bonds, however, remains fixed.