Erste Asset Mangement acquires REICO investiční společnost in Czech Republic
Effective today, 20.12.2024, REICO investment company (REICO) is officially part of Erste Asset Management (see organization chart below). The transaction has been approved by the Czech National Bank. REICO manages open-ended real estate funds in the Czech Republic and is one of the leading real estate asset management companies in the Czech market. The main investment focus is on the Czech Republic and selected markets in the CEE region. The company has 21 employees and manages assets amounting to 1.6 billion EUR (as of Nov 2024). The assets will be consolidated into Erste AM's numbers as of year-end 2024. The incorporation of REICO into EAM will have no impact on clients (fund investors) or their existing investments. The funds will continue to be administered in the Czech Republic.
As a result of this transaction, the name of REICO investiční společnost České spořitelny, a.s. is changed to REICO investiční společnost Erste Asset Management, a.s. The managed funds will be renamed REICO NEMOVITOSTNÍ, otevřený podílový fond, and REICO LONG LEASE, otevřený podílový fond. The REICO ČS NEMOVITOSTNÍ retail fund is the largest and oldest open-end real estate fund in the Czech Republic. Along with the REICO ČS LONG LEASE fund, it invests in premium commercial real estate and is one of the most popular real estate funds in the country.
Erste AM Corporate Structure (as of 20.12.2024)
About us
Erste Asset Management GmbH (Erste AM) is an international asset management company with a strong position in Central and Eastern Europe. Erste Asset Management is backed by the financial strength of Erste Group Bank AG (Erste Group). At its locations in Austria, Germany, Croatia, Romania, Slovakia, the Czech Republic, and Hungary, Erste AM manages assets of EUR 84.0bn (as of 30 October 2024).
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Disclaimer
This document is an advertisement. Please refer to the prospectus of the UCITS or to the Information for Investors pursuant to Art 21 AIFMG of the alternative investment fund and the Key Information Document before making any final investment decisions. Unless indicated otherwise, source: Erste Asset Management GmbH. Our languages of communication are German and English.
The prospectus for UCITS (including any amendments) is published in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to Art 21 AIFMG is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH pursuant to the provisions of the AIFMG in connection with the InvFG 2011. The fund prospectus, Information for Investors pursuant to Art 21 AIFMG, and the Key Information Document can be viewed in their latest versions at the website www.erste-am.com within the section mandatory publications or obtained in their latest versions free of charge from the domicile of the management company and the domicile of the custodian bank. The exact date of the most recent publication of the fund prospectus, the languages in which the Key Information Document is available, and any additional locations where the documents can be obtained can be viewed on the website www.erste-am.com. A summary of investor rights is available in German and English on the website www.erste-am.com/investor-rights as well as at the domicile of the management company.
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