We are pleased to announce that, in a licensing procedure led by IVVK Lawyers, the Securities Commission of the Republic of Serbia has issued a decision granting our client, the alternative investment fund management company STAR FINANCE AD Beograd:
- a licence for the organisation and management of an umbrella AIF operating under the business name “Krovni fond SF Umbrella AIF sa privatnom ponudom”;
- licences for the organisation and management of the umbrella AIF’s two sub-funds — “SF Umbrella Legat Podfond AIF” and “SF Umbrella Nebos Podfond AIF”;
- approval of the umbrella AIF’s rules of operation and consent to the selected depositary.
Umbrella fund structures are still a novelty on the Serbian market. They allow several sub-funds, each with segregated assets and its own investment strategy, to operate under a single umbrella AIF — giving fund managers and investors considerably more flexibility in structuring their investments.
Our team advised the client throughout the entire procedure before the Securities Commission, from the preparation of the application and the fund’s documentation to the issuance of the licences.
For any questions regarding the establishment and licensing of alternative investment funds in Serbia, feel free to contact us.