ABOUT HESTIA
Hestia's investment objective is primarily to invest in rental housing projects
in Slovakia.
Hestia is a Liechtenstein investment SICAV fund under the supervision of the FMA. In the first phase of its activities, it will focus on investments in state-supported rental housing in Slovakia. Within the fund’s structure, sub-funds will operate – separate entities with their own strategy and segregated assets and liabilities. Investors therefore always invest in a specific sub-fund, and its resources are used exclusively within that sub-fund.
To achieve its objectives, the sub-funds will primarily invest indirectly – by providing their own resources to landlords who implement one or more rental housing projects. The projects operate within the framework of state-supported rental housing with a reduced VAT rate of 5%, preferential employer contributions to rent, and apartment allocation through a state portal; the system is designed for long-term stability of at least 25 years.
Sub-funds may temporarily hold liquidity with the depositary (cash and deposits up to 12 months) if necessary to fulfil the investment objective.
Investment properties related to the construction of rental apartments may include, in particular:
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land in the preparation and development phase,
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residential and mixed (residential/office) properties,
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social infrastructure (kindergartens, schools, student dormitories, facilities for seniors or healthcare, sports facilities),
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commercial premises and parking.
Investments are made primarily in euros; assets in other currencies may be partially or fully currency hedged. The sub-funds may also use derivative instruments to hedge and manage the portfolio efficiently, as long as they do not deviate from the strategy's objective.
An investment in the Hestia fund is suitable for investors with a higher risk tolerance and a longer horizon who want to supplement their portfolio with Slovak real estate in the state-supported rental housing segment.
Fund Structure & Governance
SICAV umbrella fund with Liechtenstein FMA oversight. EU marketing passport enabled.
AIFM
LLB Fund Services AG, Äulestrasse 80, FL-9490 Vaduz
Admin
LLB Fund Services AG, Äulestrasse 80, FL-9490 Vaduz
Custodian
Liechtensteinische Landesbank AG, Städtle 44, FL-9490 Vaduz
The auditor of the AIF
PricewaterhouseCoopers AG, Kornhausstrasse 25, CH-9000 St. Gallen
The auditor for the AIFM
KPMG (Liechtenstein) AG, Aeulestrasse 2, 9490 Vaduz