Fund according to § 15 ZISIF

The fund according to § 15 ZISIF is an investment fund that is regulated in the Czech Republic by Act No. 240/2013 Coll., on Investment Companies and Investment Funds, as amended (ZISIF). This type of fund is often referred to as a “mini-fund” or “alternative fund” and represents an investment vehicle allowing collective management of assets collected from multiple investors. Unlike fully regulated investment funds, which are subject to the comprehensive supervision of the Czech National Bank (CNB), funds under Section 15 of the ZISIF are only registered in the list maintained by the CNB pursuant to Section 15 (1) of the ZISIF and are not subject to the CNB's ongoing supervision under Title II, Part Four of the ZISIF. Because of this, they are subject to more lenient regulation and have lower administrative burdens and operating costs.