The creation and operation of qualified investor funds are subject to numerous rules and regulations. This section includes an overview of the most important ones.

Legislation

European Legislation

The single European regulatory system for alternative funds has been governed by the Alternative Investment Fund Managers Directive (AIFMD).

This Directive applies to all platforms intended to pool capital and invest it if these are not subject to the UCITS Directive, regulating standard funds for the public.

Under the AIFMD, the fund manager can use the European passport and operate across all Member States of the EU.

A less restrictive regime applies to managers whose funds do not exceed €100 million (or €500 million for funds that do not use financial leverage and do not guarantee buy-back of units within 5 years). The funds of these ‘below-threshold’ managers are subject to the ‘national’ regime in the Czech Republic, which is very similar to the full regulation regime under AIFMD.

The related European legislation includes in particular:

Czech Legislation

The Czech legal system governs investment funds by Act No :240/2013 Coll., on Investment Companies and Investment Funds, effective from 19 August 2013, and by other legislation, including in particular:

Other selected and related legislation includes:

Other Information Sources

Please contact us or use the following information sources for further information on the management of investment funds:

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