An investment company is an alternative investment fund that raises capital from the public as a limited company with its initial capital divided into freely transferable shares of the same

class. The management company shall manage the investment company’s assets on behalf of and for the account of the investment company. The minimum amount of initial capital of an investment company is EUR 1,000,000. An investment company may increase its initial capital with contributions provided that the issue price of shares is at least equal to the book-entry value of shares on the date of publication of the invitation to subscribe and pay for shares, increased by any costs associated with the increase in the initial capital of the investment company that the management company is entitled to claim. Notwithstanding the scope of participation in the capital of the investment company, no single person or persons acting in accordance with the Takeovers Act shall have more than 33% of all voting rights of the investment company and more than 33% of participation in the profit of the investment company.

Investment companies’ shares can only be paid up in full prior to the investment company’s entry in the Court Register. Prior to entering its foundation in the Companies Register, the investment company needs to acquire the ATVP’s approval of its statute.

An investment company has no management board. The management functions are performed by the management company that conducts the operations of the investment company and acts as its representative in all matters, except those for which the supervisory board of the investment company is authorised. The supervisory board of an investment company performs all functions like in other shareholding companies. It represents the investment company vis-a-vis the management company. The relations between a management company and an investment company are regulated by a contract on investment company management in which the management company assumes the obligation to manage the investment company and the task of conducting all activities related to management of the investment company’s financial assets in the name and on behalf of the investment company, and with the aim of securing conditions for the management and operation of the investment company. The investment company also assumes the obligation to pay compensation for the services provided by the management company.