Prvý realitný fond

Fund performance

Basic information

Who is the fund intended for

Prvý realitný fond is a balanced fund intended for investors with a balanced attitude to risk who are interested in a steady, even growth of their investment. The fund belongs to the category of special growth real estate mutual funds and offers the opportunity to participate in steady returns associated with the lease of real estate and growth in their value. It is a good alternative for investors looking for long-term performance prospects without major fluctuations. We recommend it to investors who wish to deposit their funds for over five years.

On 26.1.2026, based on the decision of the NBS No. file: NBS1-000-112-929, No. z.: 100-000-991-518 dated 20.10.2025, which entered into force on 27.10.2025 and approved by the Board of Directors of IAD Investments správ. spol., a. s. (hereinafter referred to as “IAD”), an amendment to the statute of the mutual fund came into effect, which allows the start of the issuance of a new issue of unit certificates of the fund Prvý realitný fond, collectively referred to as Class CZK. The date of commencement of the offering of unit certificates of the Class CZK is 25.2.2026. On the date of commencement of the offering of unit certificates of the Class CZK, unit certificates of the Class CZK will be issued at their initial value pursuant to Article G. point 4. of the statute of the fund Prvý realitný fond.

The units of the Prvý realitný fond without a Class designation (regardless of the currency in which the units were purchased) issued before the date of commencement of the offering of the CZK Class are, from the date of commencement of the offering of the CZK Class, i.e. from 25.2.2026, considered to be units of the EUR Class (hereinafter referred to as the “EUR Class“), while the rights of the existing unitholders associated with these units remain unchanged.

There are no special rights associated with any Class, however, the individual Classes differ from each other pursuant to Section 8(17) of the Act:

• the currency in which the individual Classes are denominated, i.e. in which the Class’s units are issued and paid out and in which their value is declared (and the related potential currency risk) – the EUR Class is denominated in euros, the CZK Class is denominated in Czech crowns,
• specific costs and revenues that may be associated with the CZK Class in connection with the IAD’s authorization to hedge assets in the CZK Class against currency risk and to invest in financial derivatives for that purpose and the related calculation of the net asset value attributable to the given Class,
• the minimum investment amount (20 EUR for the EUR Class and 600 CZK for the CZK Class),
• the identification mark of the securities according to the international securities identification numbering system “ISIN”.

Fund detail

Fund characteristics:

• Special real estate fund
• Balanced investment strategy
• The fund’s objective is steady investment growth over more than five years
• Invests primarily in real estate in the territory of the member states of the European Union (Slovakia, the Czech Republic, Hungary, Poland), other European countries, the United States of America (USA) and Canada
• Takes care to diversify the portfolio – invests in real estate including accessories in the areas of administration, logistics, trade, tourism, housing and other segments of the real estate market, including their development
• The income is achieved mainly through rents and from the market appreciation of real estate
• Invests in debt transferable securities to better appreciate temporary free liquidity
• The investor can request the payment of units on a daily basis, which will be paid to him without undue delay, but no later than within 12 months from the delivery of the complete request
• The fund issues two classes of unit certificates:
  Prvý realitný fond Trieda EUR unit certificates issued in EUR
  Prvý realitný fond Trieda CZK unit certificates issued in CZK

Awards received:

Fund investment strategy:

The goal of the management company is to achieve and secure a return for shareholders within 5 years at the level of development of the Slovak, Czech and European real estate market. The investment policy is focused on creating the added value of the real estate portfolio through the use of suitable investment opportunities arising in the real estate market as well as through the effective performance of individual property management in order to maximize the use of individual real estate opportunities.

The mutual fund invests mainly in real estate assets – real estate in the areas of administration, logistics, trade, tourism, housing and other segments of the real estate market, including their development, and in equity interests (direct and indirect) in commercial companies that operate in the real estate market or invest in real estate, including accessories. Real estate assets (real estate and equity interests in real estate companies) can make up to 90% of the volume of the mutual fund’s assets. The mutual fund may also invest in transferable securities (e.g. mortgage bonds), money market instruments and financial derivatives, and in transferable securities whose income is derived from the development of the real estate market (e.g. property linked notes), and in debt transferable securities at an appropriate rate of return and risk.

The mutual fund invests in financial derivatives in order to hedge the mutual fund’s assets against equity, interest rate and currency risks and in order to achieve additional portfolio income. With regard to market developments and demand for the CZK Class, the mutual fund may invest in financial derivatives in accordance with the first sentence for the purpose of hedging against the currency risk of investors in the CZK Class of units, however, this currency risk may remain partially or completely unhedged.

Factors that affect the value of assets in the fund:

The economic growth of the countries to which the mutual fund’s investments will be directed has an impact on the performance and credit quality of the assets held in the mutual fund. This type of risk has a significant impact on the value of the Class’s shares.

Market risk, which represents changes in the market value of positions in the assets of the mutual fund caused by changes in market factors such as interest rates, foreign exchange rates, share prices. This type of risk has a significant impact on the value of the Class’s shares.

• Interest rate risk means the risk of loss resulting from changes in interest rates and their impact on the value of the assets of the mutual fund. This type of risk has a medium impact on the value of the Class’s shares.
• Currency risk means the risk of loss resulting from changes in currency exchange rates and their impact on the value of the assets of the mutual fund in the denomination currency of the mutual fund. This type of risk has a small impact on the value of the EUR Class’s shares, a significant impact on the value of the CZK Class’s shares.
• Equity risk, which means the risk of loss resulting from changes in the prices of equity securities and their impact on the value of the assets in the mutual fund. This type of risk has a significant impact on the value of the Class’s share.
• Real estate investment risk, the risk of changes in the value of real estate assets due to changes in the value of real estate, real estate companies or land. This type of risk has a significant impact on the value of the Class’s share.

Credit risk, which means the risk of loss arising from the failure of a debtor or other counterparty to meet its obligations under the agreed terms. This type of risk has a minor impact on the value of the Class’s units.

• Country risk, which means the risk of loss arising from the inability or unwillingness of the relevant authorities of the state or the central bank to meet their obligations abroad and other debtors in the relevant state to meet their obligations because they are residents of that state. This type of risk has a minor impact on the value of the Class’s units.
• Counterparty risk, which means the risk of loss for the mutual fund arising from the fact that a counterparty to a concluded transaction would fail to meet its obligations before the final settlement of the cash flows under the transaction. This type of risk has a minor impact on the value of the Class’s units.
• Settlement risk, which is the risk of loss resulting from the failure to settle a financial transaction according to the agreed terms. This type of risk has a minor impact on the value of the Class.

Event risk means the risk of loss resulting from unforeseeable circumstances that cause the market value of a financial instrument to decline in a sudden or unexpected manner, when compared to general market behaviour and in a manner that exceeds the normal range of fluctuations in its value; event risk also includes the movement of risk on interest rate products or the risk of significant changes or jumps in share prices. This type of risk has a significant impact on the value of the Class.