Abstract
This paper examines legal uncertainties related to permissible legal forms of investment funds in the Czech law. Although the Act No. 240/2013 Coll., on Management Companies and Investment Funds introduced great variety of forms in 2013, particularly for qualified (sophisticated) investors' funds, basically only two of them (joint-stock company including its variation SICAV and mutual fund, both open- and closed-end) are used in practice.
Still, these structures contain certain unresolved issues and the asset managers must operate in "grey zone" in this respect. In my opinion, legislation changes and the amendment of rules related to Czech partnership (komanditni spolecnost) would be desirable in the collective investment sector.