Fund management activities (66.300)

• Investment Funds and Management Companies Act and Alternative Investment Fund Managers Act

The Securities Market Agency issues operating licenses or changes of legal status of:

Prior to the entry of its establishment in the court register or to the entry of change of activity in the business register, a management company must obtain an authorisation to provide the services of managing investment funds, whereby a written request in the name of the management company must be submitted by its founders.

To manage alternative investment funds, the alternative investment fund manager must obtain a permit for the management of alternative investment funds, except in cases provided for by the law governing alternative investment fund managers.

In the court register cannot be entered the person whose company name contains the following:

• the words "asset management company" or derivatives from these words if a legal entity does not fulfil the conditions for the provision of services of management of investment funds,
• the words "alternative investment fund manager" or derivatives from these words if that person does not meet the conditions for the management of alternative investment funds,
• the words "Specialized Investment Fund" or derivatives from these words or the "SIF" label if that person does not have a recognized specialized investment fund status.

Source: Ministry of Finance

Activities/services as per the explanatory notes on the standard classification of activities:

This includes:

• portfolio and fund management activities on a fee or contract basis, for natural persons and legal entities and others, such as:

1. management of mutual funds,
2. management of other investment funds and
3. management of pension funds.