Investment funds
The activity of investment funds and scope of activity and competence of Hanfa in the field of investment funds are regulated by the Act on Open-Ended Investment Funds with Public Offering and Alternative Investment Funds Act.
Within the framework of its competence, Hanfa supervises companies managing open-ended investments funds with public offering and companies managing alternative investment funds with their registered offices in the Republic of Croatia, Member State or third country, which offer units of investment funds they manage in the territory of the Republic of Croatia, as well as other entities.
The Act on Open-Ended Investment Funds with Public Offering stipulates terms and conditions for the constitution and functioning of UCITS and of UCITS management companies, and regulates the issuance and redemption of units of UCITS, marketing of units of UCITS, delegation of tasks to a third party and supervision of business operations of UCITS, UCITS management companies, depositaries and persons offering units in UCITS.
The Alternative Investment Funds Act stipulates terms and conditions for the constitution and functioning of alternative investment funds (AIFs) and managers of alternative investment funds (AIFMs), and regulates the issuance and redemption of units of AIFs, marketing of units of AIFs, delegation of tasks to a third party and supervision of business operations of AIFMs, AIFs, depositaries and persons offering units in AIFs.
UCITS is an open-ended investment fund with public offering established by a UCITS management company which, operating on the principle of risk-spreading, invests collective assets of investors, raised through public offering of units in UCITS, in liquid financial assets in accordance with the provisions of the Act on Open-Ended Investment Funds with Public Offering, prospectus and the fund rules. Units of UCITS are redeemed out of its assets at the request of investors.
Alternative investment fund is an investment fund established by a manager of alternative investment funds for the purpose of raising capital through a public or private offering and investing this capital in different types of assets in accordance with the provisions of the Alternative Investment Funds Act and a predefined AIF investment strategy and objective, but to the exclusive benefit of unit-holders in the AIF concerned. An AIF may be the AIF of an open-ended or a closed-ended type.
This web page contains a link to the list of UCITS management companies and a list of AIFMs with the activities for which they have been authorised by Hanfa, as well as of all other management companies providing their services or performing their activities in the territory of the Republic of Croatia. It also contains a link to the list of UCITS and AIFs whose establishment has been authorised by Hanfa, as well as of other UCITS and AIFs offered in the Republic of Croatia.
Marketing of units of UCITS or alternative investment funds includes all services or activities related in any way to distribution of units of UCITS or alternative investment funds from a management company to investors. Marketing of units also includes activities related to advertising, provision of information and offering of units of UCITS or alternative investment funds. This website provides information on legislation and subordinate legislation or other information relating to marketing of units of UCITS or alternative investment funds established in Member State and third countries in the territory of the Republic of Croatia.
The Fund for Croatian Homeland War Veterans and Members of their Families is an open-ended investment funds established by the Government of the Republic of Croatia for the purpose of distributing assets of the Fund to Croatian Homeland War veterans and members of their families. The Fund has been established and operates in accordance with the provisions of the Act on the Fund for Croatian Homeland War Veterans and Members of their Families. The Retired Persons’ Fund operates in accordance with the provisions of the Retired Persons’ Fund Act and has been established for the purpose of providing retirement benefits to beneficiaries. The Retired Pensions' Fund ceased to exist on the date of entry into force of the Act on the Termination of the Retired Pensions' Fund Act. Supervision over the operations of the Fund Management Company in the part related to the obligations arising from the Act on the Termination of the Retired Pensions' Fund Act shall be exercised by the Croatian Financial Services Supervisory Authority.
