An investment you can actually see.

IAD Investičný Realitný Fond (IAD IRF) is a sub-fund of the investment fund IAD Investments Fund (Fund), an investment company with fixed capital société d’investissement à capital fixe – SICAF) incorporated under the laws of the Grand Duchy of Luxembourg as a partnership limited by shares (société en commandite par actions) and registered pursuant to Part II of the 2010 Law on Undertakings for Collective Investment, with its registered office at 1B, rue Jean Piret, L – 2350 Luxembourg, Grand Duchy of Luxembourg and registered with the R.C.S. Luxembourg under number B161180, where the Fund is an alternative investment fund existing in accordance with the EU Alternative Fund Managers Directive (AIFMD). The general partner and the statutory body of the Fund is the company IAD Investments Management S.à r.l., a private limited liability company (société à responsabilité limitée), having its registered office at 1B, rue Jean Piret, L – 2350 Luxembourg, registered with the R.C.S. Luxembourg under number B 161176 (General partner).
Tento zabezpečuje každodennú činnosť Fondu.

IAD IRF is suitable for any investor who is interested in diversifying his investment portfolio and is also prepared for a less liquid investment. Investment in IAD IRF and in general in the Fund is associated with risk, the value of the investment in the Fund may also decrease and there is no guarantee of return of the originally invested amount. The recommended investment horizon of this Fund is at least 5 years.

The investor will acquire IAD IRF shares based on a written contract in which he undertakes to pay the agreed amount for which he will acquire the shares. The legal relationships between investors and the Fund in general are governed by and construed in accordance with Luxembourg law and are subject to the jurisdiction of the Luxembourg courts.

After the receipt of the invested amount from the investor to the account of the Fund maintained for IAD IRF, the investor acquires IAD IRF shares at the price of the last so-called valuation day, which is usually the last calendar day of the month in which the monies from the investor were credited to the Fund’s account. The investor is credited with such a number of Fund shares that corresponds to the proportion of the invested amount (after deduction of fees) and the valuation of the respective Fund share on the given valuation day. The investor can also own a fraction, i.e. a part of the Fund’s share.

Part of the investor’s acceptance process by the Fund is also the requirement to prove the source of wealth, the so-called AML/KYC in accordance with the Luxembourg Law of November 12, 2004, on the fight against money laundering and the financing of terrorism, as amended, as well as in accordance with other generally binding legal regulations regarding the protection against money laundering and terrorist financing.

For more detailed information about the procedure for investing in the Fund, please contact us in writing at the email address info@iadim.fund.

The payment of dividends by the Fund depends, among other things, on the currently chosen investment strategy that is in accordance with the Fund’s prospectus, the Fund’s current financial situation and the availability of free cash. With regards to the situation on the real estate market, it may be necessary to accumulate funds in a certain period, e.g. with the aim of buying new projects, but at other times free cash can be paid out in the form of dividends. The Fund is not obliged by law or other legal title to pay dividends, while the decision to pay dividends is within the sole discretion of the fund’s statutory body – its General Partner.

The minimum investment amount depends on the selected investment class of the Fund (see the table below). IAD IRF has three classes of shares: “Institutional Class”, “Class A” and “Ordinary Class”. In addition to the amount of the minimum investment, the investment classes also differ in fees, as shown in the following table. The subsequent investment in IAD IRF has no minimum threshold.

Performance Fee

Information on fees is published in the Fund’s Prospectus, in Appendix 1 Part 1 regarding the terms and conditions of the IAD IRF.

You can find the current value of the shares according to the relevant share class of IAD IRF on the website of the Fund www.iadim.fund .

IYou can find information on the price of IAD IRF shares (except for so-called Ordinary Share Class shares that have not been accepted for trading on the stock exchange) on the website of the Luxembourg Stock Exchange https://www.luxse.com/, or contact us with your request by email at the address info@iadim.fund.

You can determine the current value of your investment by multiplying the number of your shares and the current value of the IAD IRF share.

Example:

As of 31 December 2023, the current value of one share in Ordinary class IAD IRF was EUR 69.42. You own 1,000 shares. The current value of your property as of 31.12.2023 was thus 69.42 x 1,000 = 69,420 EUR.

To redeem an investment in the IAD IRF, an investor can submit a redemption request for redemption at any time. Redemption requests are evaluated during the months of April and May of each calendar year (the so-called redemption period). Usually, investors submit redemption requests in the above-mentioned time period. If the investor submits a redemption request before the start of the redemption period (e.g. in January of year Y), this request is considered to have been submitted at the beginning of the next redemption period (i.e. in April of year Y). A request submitted after the end of the redemption period (e.g. in June of year Y) will be included in the next upcoming redemption period (i.e. April of year Y+1). In the case of IAD IRF and share classes of Class A and Ordinary Class, the redemption of shares before the expiration of the applicable investment holding period is subject to the redemption fee indicated below:

Investment holding period means time elapsed from acquisition of shares by the investor, i.e. crediting it to the investor’s account or registration in the shareholder register of the Fund and submission of the redemption notice. More information available in the Prospectus.

According to the prospectus, the recommended investment horizon for IAD IRF is at least 5 years.
The investment horizon is not fixed, and it is up to each investor for what time period he decides to invest. The Fund cannot restrict for how long the investor must keep his funds tied up in the Fund. The investment horizon of IAD IRF is set to bring the expected returns with its investment strategy. Under standard market and economic conditions, this is very likely to happen. A longer investment period mitigates potential losses in the event of a decline in the value of the securities and assets of the Fund.

You can request the redemption of your shares in the following ways:

Send us a scanned copy of the completed Redemption Request form with an officially certified signature to the email address info@iadim.fund or send it by mail to the registered office of the Fund’s distributor and the local representative of the AIFM, which is the company IAD Investments správ. spol., a.s., Malý trh 2/A, 811 08 Bratislava.

The monies for the redemption of shares will be sent to your bank account, from which the monies were sent for the purchase of the Fund’s shares, and which is also stated in the subscription contract enclosed at acquisition of the Fund’s shares. Payment of funds may be subject to AML/KYC due diligence in accordance with the applicable legislation in protection against money laundering and terrorist financing.

In order to pay out the monies, it is necessary to submit a written request for redemption (see above). The deadline for the payment of funds in case of redemption depends on the total amount of redemptions of all investors submitted in the respective period for redemption (April and May of the respective year) as follows:

• If the value of all redemption requests does not exceed 5% of the IAD IRF’s net asset value, the monies are paid no later than by the end of August of the respective calendar year.
• If the value of all redemption requests exceeds 5% but does not exceed 20% of the IAD IRF’s net asset value, the monies are paid no later than by the end of February of the following calendar year.
• If value of all redemption requests exceeds 20% of IAD IRF’s net asset value, (i) the monies may be paid out by the end of May of the following calendar year or (ii) the IAD IRF may be closed and liquidated within a period of 3 years and 60 days since 31 March being start of the subject redemption period.

The amount “net asset value of IAD IRF” for the purposes of the aforementioned calculations is determined as the average of the net asset value of IAD IRF over the period of the last 14 months ending on the last day of the subject redemption period (i.e. for the months of April of the year Y-1 to May of the year Y, for which the total amount of redemptions is evaluated).

Due to the cash position in the IAD IRF and the decision of its General partner, the monies may be paid even before the expiration of the above-mentioned deadlines.

The exact procedure is specified in the Fund’s prospectus in Appendix 1 Part 1 – terms and conditions relevant specific for the IAD IRF.

Yes, the Fund’s shares can be donated. The recipient becomes an investor in the Fund. The recipient is also subject to the requirement to prove the source of wealth in accordance with the obligations arising from the legal regulations on the anti-money laundering and counter terrorism financing. To document the donation, it is also necessary to submit officially translated documents in English proving the donation and the identification of the donor and the recipient.

Yes, shares of the Fund can be inherited. The heir becomes an investor of the Fund and before his acceptance as an investor, the heir is also subject to the requirement to prove the source of wealth in accordance with the obligations arising from the legal regulations regulating the anti-money laundering and counter terrorism financing. The required documents for the registration of the heir need to be officially translated in the English language and include e.g. death certificate of the original investor and resolution on the inheritance proceedings or certificate of inheritance.

Yes, Fund shares can be sold to another person, either to an existing investor or to another third party. The prerequisite for the transfer is (among other things) the acceptance of the acquirer/buyer by the Fund regarding the obligations arising from the legal regulations on the anti-money laundering and counter terrorism financing. The transfer is carried out based on a written contract. For additional information, contact us at info@iadim.fund.

This is a legal obligation arising from the law of the European Union as well as from Luxembourg and Slovak legislation. It is performed when the investor enters the Fund, when exiting the Fund, as well as during other transactions with the investor’s shares in the Fund. At the same time, this due diligence must also be carried out continuously, usually at least once a year. As part of these reviews, you may be asked for your personal documents, information regarding proof of your identity, as well as information regarding the source of your funds and the source of your wealth.

The General Partner is the company IAD Investments Management S.à r.l. with registered office at 1B, rue Jean Piret, L-2350 Grand Duchy of Luxembourg, which is, in accordance with Luxembourg law, the statutory body of the Fund and is responsible for implementing the investment strategy in accordance with the Fund’s prospectus. In accordance with Luxembourg legislation, the General Partner delegates certain activities to professional companies domiciled in Luxembourg, such as the AIFM or the Central Administrator. More information can be found in the Fund’s prospectus.

The AIFM is a Luxembourg company Gen II Management Company S.à r.l. with registered office at 33, Avenue J.F. Kennedy, L-1855 Luxembourg. The AIFM is a manager of alternative investments within the meaning of Luxembourg regulations and carries out its activities based on the authorization of the Luxembourg regulator CSSF. The AIFM is responsible for the compliance of the implementation of the Fund’s investment strategy with Luxembourg legislation. From the point of view of the Slovak law, AIFM is the so-called a foreign management company that operates on the territory of the Slovak Republic based on the right to freely provide services in accordance with CoI Law.

The central administrator is the Luxembourg company CF Fund Services S.A., which is part of the BDO Luxembourg group, with its registered office at 1 rue Jean Piret, L-2350 Luxembourg, Grand Duchy of Luxembourg. The central administrator (among other things) maintains the register of shareholders of the Fund and is responsible for compliance with AML/KYC rules in accordance with the applicable anti-money laundering and counter terrorism financing laws.

The Fund’s depositary is the Luxembourg bank Société Générale Bank Trust with registered office at 11, Avenue Emile Reuter, L-2420 Luxembourg, part of the international banking group Société Générale. The depositary is a company regulated by the Luxembourg regulator. The depositary deals with the funds in the Fund. No payment or transaction with the assets of the Fund can be made without the consent of the Fund’s depositary.

The CSSF is the Luxembourg financial regulator, the Commission de Surveillance du Secteur Financier, which supervises the Fund. Compared to Slovakia, it is an institution that performs the same function in the supervision of the financial market as the National Bank of Slovakia performs in the Slovak Republic.

The Fund is under the supervision of the Luxembourg’s financial regulator Commission de Surveillance du Secteur Financier (CSSF). The business of the Fund is also supervised by the Luxembourg licensed manager GEN II MANAGEMENT COMPANY (LUXEMBOURG) S.à.r.l., 33, avenue J-F Kennedy L-1855 Luxembourg, Grand Duchy of Luxembourg and which is registered with the Luxembourg trade and companies register (R.C.S. Luxembourg) under number B159802, as its alternative investment fund manager (AIFM and the Foreign Management Company), who is directly responsible for the risk management and portfolio management of the Fund. From the Slovak law perspective, the AIFM is a so-called a foreign management company that operates in the territory of the Slovak Republic based on the right to freely provide services in accordance with §65 of Act no. 203/2011 Coll., on collective investment, as amended CoI Law).

The activities of the General Partner of the Fund are also supervised by the Luxembourg financial regulator CSSF.

The use of Fund’s assets is under the supervision and subject to consent of the Fund’s depositary, which is SOCIÉTÉ GÉNÉRALE BANK TRUST, 11, Avenue Emile Reuter, L-2420 Luxembourg.

The Fund is audited by Ernst Young S.A., 35E, avenue John F. Kennedy, L-1855, Luxembourg, Grand Duchy of Luxembourg, which provides for an independent examination of data, statements, records and operations of the Fund, in accordance with the laws of Luxembourg and the laws of the jurisdiction(s) where the Fund assets are located.

The Fund also has an independent central administrator, CF Fund Services S.A., with registered office at 1b rue Jean Piret, L-2350 Luxembourg, Grand Duchy of Luxembourg, which is a function envisaged for the Fund by Luxembourg legislation and which ensures independent bookkeeping, calculation of the NAV (net asset value) of the Fund, maintaining the register of shareholders of the Fund and other activities required by law.

With respect to the distribution of shares of the Fund for non-professional investors in the Slovak Republic, the company IAD Investments správ. spol., a.s., Malý trh 2/A, 811 08 Bratislava, IČO: 17 330 254 (IAD Investments), as a management company licensed under CoI Law and subject to the supervision of the National Bank of Slovakia, acts as the local agent for the Foreign Management Company in accordance with § 150 CoI Law. In accordance with CoI Law, the local agent has taken measures (including electronically) to carry out activities such as processing of instructions for the issuance, payment or purchase of the Fund’s securities, or providing information to investors regarding the exercise of their rights arising from their investment in the Fund and making basic documents of the Fund available. IAD Investments is also the Fund’s distributor in the Slovak Republic.

In general, collective investment and the overall functioning of the financial markets are defined by the strict legislative framework of the Grand Duchy of Luxembourg and the directives of the European Commission as well as the legal regulations of the Slovak Republic.

Only its General Partner is entitled to carry transactions with the Fund’s assets, and that from his position as a statutory body of the Fund. The General Partner may not carry out any transactions with the Fund’s assets without the consent of the Foreign Management Company and the Fund’s depositary.

The investors’ assets in the Fund are strictly separated from the assets of the Foreign Management Company. The CSSF and the Fund’s depositary supervise the activities of the Foreign Management Company in relation to the management of the Fund’s assets in order to exclude manipulation of the assets that could harm the Fund’s shareholders.

The insolvency of the General Partner does not affect the assets of the investors in the Fund, which are strictly separated from the assets of the General Partner being a statutory body of the Fund. If the General Partner were to go bankrupt, the management shares held in the Fund itself would become part of the bankruptcy estate and would be sold by the bankruptcy trustee to another company similar to the General Partner. In practice, this means that the Fund would receive a new general partner already approved by the Luxembourg regulator. This sale is always subject to the supervision and prior approval of the Luxembourg regulator CSSF, which ensures that the rights of investors in the Fund are not affected.