Funds of qualified investors Recent events in the financial world emphasize the need to understand institutions and instruments of capital market. From that reason I have chosen the area of funds of qualified investors. The aim of my thesis is to examine the treatment of funds of qualified investors, to characterize the main changes the funds have come through and to carry out a comparative analysis of similar funds which are intended for professional investors abroad and to focus on strict European legislation in this area which has an effect on the Czech funds of qualified investors and assess influence of the legislation on them. The thesis is structured into six chapters, each of them dealing with different aspects of the funds of qualified investors. The first chapter is introductory and introduces basic terminology of the subjects of collective investment; the chapter is divided into three subchapters. Subchapter one describes collective investment in the context of financial market, the second subchapter concerns the main principles of collective investment and in the third subchapter there are explained advantages and disadvantages of collective investment. The second chapter introduces the legislation of collective investment in the Czech Republic; it is also divided into three...

Investment company in managing funds of the qualified investors The aim of this proposed thesis is a qualitative analysis of the internal mechanisms of operations of an investment company in managing a fund of qualified investors. The stated goal is to relatively analyse the organism, which is providing the managing portfolio in the ownership of the fund by abstracting the most important processes that are taking place in such matter. The thesis is divided in a logical order from the historical genesis of collective investment through a brief analysis of the basic subjects of collective investment up to a qualitative analysis of the issues relating to the management of the assets of an externally managed fund with regard to the division of functions of individual bodies inside the investment structure. In conclusion, following the qualitative analysis of the activities of the individual bodies of the investment company - I then, on an example of the acquisition process, attempt to analyse and break down the roles of the individual bodies performing as a part of the acquisition of an asset to the portfolio of an externally managed investment fund.

This diploma thesis focuses on the design of three portfolio variants for a fund of qualified investors operating in the Czech Republic, which focuses on investing in shares of Exchange Traded Funds investing in precious metals.

The diploma thesis deals with the financial analysis of European joint stock companies in the pharmaceutical sector in order to expand the investment portfolio of a field-oriented fund of qualified investors. Selected companies are subjected to financial analysis by selected ratios. Based on these data, they are compared with each other by the method of intercompany comparison according to specified weights and verified in terms of their possible bankruptcy. With the help of these outputs, a proposal to expand the fund's investment portfolio is subsequently formulated.

Qualified investors' funds and asset management comparable to management of an investment funds The main aim of the submitted diploma thesis is particularly a description and analysis of the regulation of qualified investors' funds and asset management comparable to management of an investment funds, and the comparison of their usage in practice, especially in terms of numerical representation of individual legal forms. Apart from the descriptive and analytical methods, I frequently use the comparative method and also methods of deduction and induction. The diploma thesis consists of six chapters. The content of the first chapter is a brief introduction to the capital market law, in the second one, we find the regulation of investment funds in the Czech Republic. In the third chapter, I deal with the definition of the investment fund and analyse activities, which are directly related to the investment fund, i.e. management, administration and marketing of investments. The fourth chapter provides an overview how the current regulation divides investment funds. Emphasis is put on differences in regulatory requirements between establishing an internally managed and externally managed investments fund. In the fifth chapter, I deal with qualified investors' funds. First, I adress the definition of a...

This Thesis aims at hedge funds analysis focused on legal regulation. Hedge funds are not very well-known in our country, they represent a specific kind of investment funds. A term which describes these funds most closely within our legal environment is "Funds of qalified investors". The first part of this Thesis is focused predominantely on general descsription of hedge funds, their histroy and specific features. The second part of the Thesis deals with strategy, legislation and some other aspects of hedge funds.

LEGAL REGULATION OF ALTERNATIVE INVESTMENT FUNDS IN THE CZECH REPUBLIC ABSTRACT The purpose of my thesis is to analyze the impact of the recently adopted groundbreaking European regulation of alternative investment funds into the Czech legal environment of collective investments. The respective chapters provide an analysis of the most important aspects of regulation of alternative investment funds, which I consider as crucial for collective investment undertakings and its (even only potential) investors. In a large portion of the thesis I focus on the definition of alternative investment funds to clarify the possible modes of operation and distinguish them from their earlier regulated standard counterparts. In the first of eight chapters I introduce this topic in the historical context, which provides a brief excursion into the progress of regulation of collective investment at the European and Czech level, and further explain the reasons which led to creation of a unified regulation for collective investment business. The second chapter describes the current regulatory framework in accordance with the European regulation, based primarily on the Alternative Investment Fund Managers Directive (AIFMD) and its subsequent transposition into the Czech Act on Investment Companies and Investment Funds (ICIFA)....

En droit financier, la conception des investisseurs protégés apparaît imprécise, alors que le dispositif juridique de protection est composé d’un grand nombre de mesures. Le contraste est saisissant. La première partie de cette recherche souligne la nécessité d’une clarification. Le flou entourant les investisseurs protégés est détaillé et ses conséquences sur l’objectif de protection, d’une part, et sur le dispositif de protection, d’autre part, sont mises en lumière. Plusieurs questions se posent, relatives à la notion d’investisseur comme à la logique et aux critères de protection. Source d’insécurité juridique, une conception indéterminée des investisseurs protégés pèse de différentes manières sur la qualité de la protection. La seconde partie est un essai de clarification qui porte sur la notion juridique d’investisseur, d’une part, et sur la politique juridique de protection, d’autre part. Il est ainsi proposé d’introduire une définition légale de l’investisseur dans le Code monétaire et financier, en s’appuyant sur les notions de sujet de droit et d’acte d’investissement. Une définition juridique de l’acte d’investissement contribue aussi à distinguer la notion juridique d’investisseur, d’un côté, et celles d’actionnaire, de client et de consommateur, de l’autre. La politique de protection envisagée ensuite s’appuie sur des axes connus mais qui gagnent à être réaffirmés et précisés. La pleine mise en oeuvre de cette politique impose alors, compte tenu aussi des catégories redéfinies d’investisseur et d’investisseur qualifié, d’élaborer une nouvelle catégorie juridique d’intervenants sur les marchés financiers. / In financial law, the conception of “protected investors” appears to reveal many uncertainties while at the same time, investor protection measures are numerous. This raises a number of questions. The first part of this research shows that there is a need to clarify this conception. Such a need results mainly from the detailed description of existing uncertainties and their negative consequences on investor protection objective and measures. These difficulties, which are about the concept of investor, the logic of the protection and its criteria, are a source of legal uncertainty. As a result, the quality of the protection is undermined in many different ways. The second part of this research is an attempt to clarify these points. It focuses on the legal concept of investor and on investor protection policy. The idea is to amend the legislative part of the French Monetary and Financial Code to introduce a definition of the word « investor », which relies on the suggestion that an investor should have legal personality and that there should be an act of investment. The legal definition suggested for the concept of “act of investment” also helps to draw distinctions between the legal concept of investor on the one hand, and those of shareholder, client and consumer, on the other hand. The investor protection policy which is then described lies on grounds that may look familiar, but to state them more precisely appears to be useful. For this policy to be fully implemented, and taking into account the definitions or amendments brought to the categories of “investor” and of “qualified investor”, a new legal category of actors in the financial markets needs to be elaborated.