Abstract
Joint (collective) investment, ie business management of funds and money valuables collected from investors for the purpose of their joint investment on the basis of a specified investment strategy, usually on the principle of risk spreading in favor of these investors, where the return on investment is wholly or partly dependent on the value of the assets in which they were funds invested is one of the regulated activities in the financial market. Such activity may performed exclusively by persons with the relevant public authority, especially investment company, and at the same time may take place only in legally defined forms of investment funds or foreign investment funds.
There are a few exceptions to this key rule. Once of these, the institute of property management is comparable to management according to s. 15 of the Act on investment companies and investment funds.