10,669 sq m
Accolade Retail Assets Fund
Stable investment in retail parks with long-term tenants
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Long-term partnerships with renowned tenants
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Investment in places where people shop every day
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Stable returns based on a conservative strategy
Expected
long-term return p.a.
7-9 %
Minimum
investment
€100,000
Minimum
holding period
3 years
Accolade Funds in numbers
12 YEARS
of experience
€2.3 BN
portfolio value
100+
tenants
2.3M SQM
leasable area
ABOUT THE FUND
Accolade Funds is expanding its portfolio with everyday essential assets. Management is provided by MY PARK, a retail real estate specialist and our strategic partner.
MY PARK, retail specialists with a €375M portfolio.
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Deep know-how of the retail market, supermarkets, hypermarkets and retail parks in the Czech Republic, Slovakia and Poland
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87 properties under direct management, from acquisition to day-to-day operations
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Operational control over the full lifecycle of each property
Occupancy rate
99.3 %
WAULT
8.7 YRS
MY PARK metrics (87 properties, 99.3 % occupancy, 8.7 years) relate to the manager`s total portfolio, not exclusively to the Accolade Retail Assets Fund portfolio.
Selected tenants in the My Park portfolio
PORTFOLIO
Our fund is designed for qualified investors seeking stable returns from retail real estate in Central Europe.
123,123 sq m
1,558 sq m
Why Invest
Be there from the start. Become part of a fund investing in retail real estate.
1
Stable investment
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Independence from the stock market
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Stable income through long-term lease agreements
2
Long-term growth
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Retail parks deliver consistent rental growth across Europe
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Suited to investors focused on long-term appreciation
3
Retail for everyday needs
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Focus on essential everyday shopping
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Regular footfall regardless of economic conditions
4
Diversification
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Risk spread across high-quality retail properties
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Mix of tenants covering food, drugstore and everyday essentials
5
Professional asset management
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Experienced asset and property management team
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Professional management with know-how from a €2B+ portfolio
6
CEE region expansion
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Rapidly growing middle class and consumer spending
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Insufficient supply of quality modern retail space
INVEST WITH US
Our fund is designed for qualified investors seeking stable returns from retail real estate in Central Europe.
Minimum investment
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The minimum investment is €100,000, with a lower threshold of €10,000 for subsequent investments.
Currency
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You can invest in CZK or EUR.
Subscription
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New shares are subscribed 4 times a year, at the end of each calendar quarter.
01
Contact us
We`re happy to answer any questions and guide you through the whole process.
02
We are here for you
We`ll provide you with all the information you need to invest.
03
Sign the contract
When you decide to invest, we will sign a Subscription Agreement together.
04
Regular reports
Every quarter, we update you on fund results and the performance of your investment.
05
Subsequent investments
If you are satisfied with your investment, you can invest again at any subscription date.
06
Buyback
After three years, you can request a share buyback at any time.
Frequently asked questions
Read our FAQ or contact our experts for more information.
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General Information
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Investment Strategy
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Performance and Returns
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Investment Details
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Fees
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Share Redemption
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Risk Management
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Administration
What is Accolade Retail Assets Fund?
Accolade Retail Assets Fund is a sub-fund of ACCOLADE FUND SICAV p.l.c., which is an alternative investment fund (AIF) for qualified investors. The fund is regulated by the Malta Financial Services Authority (MFSA).
Who is the fund intended for?
The fund is intended for qualified investors with advanced knowledge and experience in investing.
Which currencies can be used for investment?
Investments can be made in CZK or EUR.
What is the objective of the fund’s investment strategy?
The objective of the fund’s investment strategy is to increase the value of investments through investments in retail (commercial) real estate – supermarkets, hypermarkets, and retail parks for everyday shopping.
What types of assets does the fund focus on?
The aim of the Fund is to preserve and grow investors’ capital through a resilient, income-oriented portfolio of retail real estate, targeting medium- to long-term appreciation primarily through rental income and active asset management. The Fund focuses on retail properties serving everyday consumer needs in strong and accessible locations. The Fund invests mainly in retail properties in EU countries and may invest in related ancillary assets. A limited portion of capital may be allocated to development, expansions of properties and enhancement activities.
How often is the fund valued?
The fund is valued four times a year.
Is the fund’s return guaranteed, and what return can be expected?
The fund does not guarantee a specific return, but the expected return is 7–9% p.a. The share price is variable and the return may also differ depending on market developments.
What type of real estate does the fund invest in?
The fund invests exclusively in retail (commercial) real estate – supermarkets, hypermarkets, and retail parks for everyday shopping.
What is the minimum holding period?
The minimum holding period is 3 years.
Is it possible to terminate the investment early?
The investment cannot be terminated before the minimum holding period has elapsed.
What is the minimum investment in the fund?
The minimum investment is EUR 100,000 or the equivalent in CZK. This requirement is set by regulation and cannot be reduced.
The minimum investment can be split between Accolade Retail Assets Fund and Accolade Industrial Fund. The key condition is that the total initial investment reaches at least EUR 100,000 or the equivalent in CZK.
The minimum investment can be split between Accolade Retail Assets Fund and Accolade Industrial Fund. The key condition is that the total initial investment reaches at least EUR 100,000 or the equivalent in CZK.
What is the difference between the CZK, CZK2, EUR, and EUR2 share classes?
The differences between the individual share classes lies in the minimum investment amount, the management fee, and the currency in which the investment is denominated:
- The CZK and EUR classes require the total of all investments in these classes to reach at least EUR 740,000 or the equivalent in CZK. The management fee is 1.00% p.a.
- The CZK2 and EUR2 classes have a lower minimum investment of EUR 100,000 or the equivalent in CZK. The management fee is 1.60% p.a.
What fees will I pay as an investor?
As an investor, you will pay the following fees:
- Entry fee: May be up to 3% of the subscribed amount. This fee is charged in addition to the investment.
- Management fee: This fee is already included in the published net asset value (NAV) and varies by share class:
- 1.00% per annum for share classes: CZK, EUR
- 1.60% per annum for share classes: CZK2, EUR2
- Performance fee: The performance fee is 15% of the excess return, i.e. the amount by which the investment return exceeds the previous highest achieved value (the High Water Mark). This fee is also already included in the published net asset value.
Are the published figures net of fees?
Yes, the published values already reflect all fees. The net asset value (NAV), which is reported regularly, represents the net return for the investor, after deduction of management and performance fees. The only fee not included, which you pay in addition to the investment, is the entry fee, which may be up to 3% of the subscribed amount.
When can share redemption take place?
Redemption is possible no earlier than 3 years after the subscription of shares. The redemption request must be submitted at least 12 months and 5 business days in advance. This means the request can already be submitted in the second year of the investment.
How long does the share redemption process take?
Payment from the redemption of shares will typically be credited to the investor`s account within 45 calendar days from the date of approval of the relevant NAV. Investors should plan with this timeframe in mind and consider possible delays in the event of extraordinary circumstances, such as non-payment or late payments by banks, unavailability of NAV, or other factors.
Does my investment remain active after I submit a redemption request?
Yes. Your investment remains active until the redemption date. The payout amount is determined based on the current net asset value (NAV) valid as of the redemption date.
What risks are associated with this fund?
The fund is exposed to a range of factors, including a decline in property values, economic and competitive risks, environmental impacts, tenant credit defaults, changes in interest rates, illiquidity, and the risk of natural disasters or terrorism.
Key risks:
Key risks:
- Property value decline risk: A decline in property values may affect the income and value of the fund.
- Economic risks: The fund’s performance may be affected by both general and local economic conditions, including changes in tax laws and planning legislation. This risk also reflects the possibility of tenants not paying rent.
- Interest rate risk: An increase in interest rates may lead to higher financing costs, which may negatively affect the fund’s performance.
- Illiquidity risk: Real estate investments are illiquid, which may make it difficult to quickly sell assets or redeem shares.
What is the fund’s risk level?
The fund is classified in risk class 6 out of 7 under KID/PRIIPS, primarily due to the illiquid nature of the underlying assets.
Is the fund a member of any international association?
Yes, the fund is a member of INREV, a European organisation that promotes improved transparency, professionalism, and sharing of best practices in the commercial real estate sector.
What administration is involved in investing?
Due to increasingly strict global anti-money laundering regulations, a certain level of administration is required. Every new investor must undergo a KYC (Know Your Customer) process, which includes, in addition to verification of the investor’s identity, documentation of the origin of invested funds, among other requirements. These rules apply to all investors and are part of the regulated industry.
Documents to download
These documents provide a comprehensive overview of the fund.
Key personnel
Experienced executives driving the fund’s strategic growth and success.
Member of the Board of Accolade Fund SICAV plc
Co-founder and co-owner of the investment group Accolade
Owner and Chairman of the Board of the investment group Reticulum, a. s.
A graduate of the Prague University of Economics and Business, the Faculty of Law of Charles University, and Harvard Business School
Zdeněk Šoustal
Member of the board of directors of Accolade Fund SICAV plc
Qualified Chartered Accountant with 20+ years of experience in audit, capital markets, financial advisory and asset management
Former Managing Director at Alter Domus, where he established and led the Malta office
Shareholder and Managing Director of Finco Group
Board and investment committee member of international financial entities; approved board member by the MFSA and CSSF
Chris Casapinta
Member of the board of directors of Accolade Fund SICAV plc
Chartered Certified Accountant (ACCA) with 25+ years of experience in financial services
Extensive background in fund administration, including HSBC and Apex Fund Services
Former Country Manager at Mainstream Fund Services and held C-suite roles across financial services firms
Non-Executive Director at ReAPS Asset Management
Director at Foinikas Wealth Management
Malcolm St. John
Member of the Board of Directors of Accolade Fund SICAV plc
Economist with a Ph.D. from Northwestern University (USA)
Professor, Founder and Former Head of the Department of Banking & Finance and Former Dean at the University of Malta
Consultant to key institutions including the Ministry of Finance and Central Bank of Malta and Bank of Valletta
Deputy Chairman of the Malta Stock Exchange
Director of several financial companies and member of various investment committees
Joseph Falzon
Member of the board of Accolade Investment Company Ltd.
Investment services professional active since 1997
Co-founder and former Managing Director of Quest Investment Services (acquired by Sparkasse Bank Malta in 2011)
Non-Executive Director, Investment Committee Member and Compliance/MLRO specialist
Qualified investment adviser (CeFA) with extensive experience across SICAVs and regulated investment firms
Qualified in Company Direction through the Institute of Directors (UK)
Sandro Bartoli
Member of the board of Accolade Investment Company Ltd.
Alexia Farrugia
Member of the board of Accolade Investment Company Ltd.
Chartered Fellow of the Chartered Institute for Securities & Investment with 30+ years of experience in financial services and asset management
Former Chief Investment Officer at HSBC Global Asset Management (Malta) Ltd
Director of the Malta Stock Exchange and Chairman of its Audit Committee
Chairman of the Board of Directors of various other licensed financial institutions amongst which HSBC Malta Funds SICAV plc
Chairman of a number of Investment Committees of Asset Management companies which at the moment manage more than EUR 7 billion worth of assets in aggregate
Steven Tedesco
Member of the Investment Committee Accolade Investment Company Ltd.
Chartered Financial Analyst (CFA) with 30+ years of experience in financial services
Former Chief Investment Officer at Atlantik Asset Management (formerly ABN AMRO Asset Management Czech Republic)
Involved in the launch and structuring of multiple SICAVs and sub-funds in Malta
Director and Investment Committee member of two Maltese SICAVs
Hedge fund advisor specialising in fund structuring, investment strategies and research
Petr Posker
Member of the Investment Committee of Accolade Investment Company Ltd.
Certified Public Accountant (CPA), FCCA and member of the Malta Institute of Accountants with 20+ years of experience
Finance Director and co-owner of ST Corporate and Advisory Services
Former Senior Financial Accountant at HSBC Bank Malta with responsibility for financial reporting and ALCO participation
Extensive experience across fund administration, UCITS, private equity and financial advisory services
Marica Tedesco
Member of the Investment Committee of Accolade Investment Company Ltd.
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