The Polish Financial Supervision Authority (KNF) has issued a press release to announce the imposition of a fine on Mount Towarzystwo Funduszy Inwestycyjnych SA (Mount TFI SA) in connection with the violation of investment restrictions pertaining to investments in any one issuer.
Specifically, the firm did not observe the investment restrictions under Article 145 of the Act of 27 May 2004 on investment funds and the management of alternative investment funds stipulating that all investments in equity shares and fixed income securities of any one issuer may not exceed – in aggregate – 20% of a fund’s net asset value. This restriction was continuously violated between June 30, 2018 and June 30, 2021 in connection with the investments of the Real Estate Income Assets Closed-End Fund.
The amount of the fine was set to PLN 200,000.
Nałożenie kary pieniężnej na Mount TFI SA
ID
21930
Other Features
AIF
AIF investment vehicle
AIFM
fund management
investment limits
penalties
Date Published: 2023-02-17
Regulatory Framework: Alternative Investment Fund Managers Directive (AIFMD)
Regulatory Type: information
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