Alternative Investment Fund (AIF) under the CIU Law, is a collective investment undertaking, including its subdivisions or sub-investment funds, which provides capital from a number of investors, in order to invest it in accordance with a defined investment policy for the realization of benefits for investors and which is not licensed as a collective investment enterprise in transferable securities, according to this law.
Alternative Investment Funds offer interesting opportunities for investors to diversify their investment portfolios, to “mitigate” the impact of market volatility and to achieve long-term investment objectives even during periods of uncertain markets.
This is because alternative funds have low correlations with traditional forms of investment, such as bonds and stocks.
The alternative investment fund does not require licensing as the other forms of CIU, but is registered by the Financial Supervisory Authority upon request completed by the Management Company.
Law no. 56/2020 “On Collective Investment Enterprises”, regulates the activity of the management company and alternative investment funds.
A limited partnership is a collective investment undertaking, in accordance with the provisions of the legislation in force for traders and commercial companies, according to law no. 9901 “On traders and commercial companies”.
The Fund must comply with the requirements of law no. 9917, dated 19.02.2008 “On the Prevention of Money Laundering and Terrorist Financing” (amended).
The fund must comply with the requirements of law no. 9887, dated 10/03/2008 “On the protection of personal data” (amended), electronically and manually.
Management Company is the established entity, whose commercial activity is the administration of collective investment undertakings, including collective investment undertakings in transferable securities, licensed pursuant to this law or an equivalent foreign law in force. Credins Invest is the Fund Management Company.
The company is registered in the Albanian Commercial Register by Decision of the District Court of Tirana,
Nr. 34260, dated 31 October 2005, indefinite deadline. 76% of the shares or voting rights are owned by Credins Bank.
Credins Invest is supervised by the Financial Supervisory Authority, in accordance with the provisions of law no. 9572, dated 03.07.2006 “On the Financial Supervisory Authority”, law no. 10197, dated 10.12.2009 “On Voluntary Pension Funds” and law no. 56/2020 dated 30.04.2020 “On Collective Investment Enterprises”.
The depositary of the fund is the American Bank of Investment, licensed by the Financial Supervision Authority to perform the service of the Depository of the Fund. The Depositary acts with honesty, regularity, professionalism, independence and in the interest of the investors of the alternative investment fund.
The assets of the alternative investment fund are separated from the assets of the depository and the assets of the other clients of the depository, so that they can be identified as belonging to the alternative investment fund at any time.
