Closed-end Mutual Fund

A Closed-end Mutual Fund (C.M.F.) is a group of assets owned jointly by individuals and legal persons (unit holders), with the sole purpose that of participating in the capital structure of other companies, by investing primarily in shares and bonds of non-listed companies.

A C.M.F. is permitted to invest in:

• transferable securities (shares, bonds, warrants),
• money market instruments and cash deposits.

A C.M.F. is formed as:

• a group of assets divided in units of equal value,
• under an agreement among unit holders, the Custodian and a management Company
• serving as a closed-end collective investment scheme
• with a minimum asset value of € 3,000,000
• a maximum duration of 20 years,
• with no prior license of operation from the Hellenic Capital Market Commission (HCMC)
• units are permitted to be listed on a Regulated Market or admitted to trading on a Multilateral Trading Facility,
• the safe keeping of the portfolio assets is delegated to a Custodian
• after the listing of the shares on a Regulated market or the admission to trading on an M.T.F. the C.M.F. is supervised by HCMC