The management company GILD Property Asset Management recieved an activity licence
The Financial Supervision Authority issued a management company licence to AS GILD Property Asset Management. GILD Property Asset Management is a management company that was founded by AS GILD Financial Advisory Services and OÜ Uus Maa Kinnisvaragrupp for the purpose of managing real estate funds. Both shareholders own a 50% share of AS GILD Property Asset Management.
The supervisory board of GILD Property Asset Management consists of Rain Tamm, Taavi Lepmets, Ville Jehe and Andres Hall, and the management board consists of Andris Kovlcuks and Urmas Laur, who is also a fund manager.
A licence by the Financial Supervision Authority is required for management of investment and pension funds; the FSA has previously issued such licences to Avaron Asset Management, ERGO Varahalduse AS, Hansa Investeerimisfondid, Kawe Kapital, LHV Varahaldus, Sampo Baltic Asset Management, SEB Ühispanga Fondid, Trigon Alternative Funds and Trigon Funds.
A management company's main business is the management of funds or securities portfolios: organisation of the issuing of funds and the redemption of units or shares of a fund, investment of the assets of a fund, keeping account of the assets of the fund and other relevant activities. A management company may manage more than one fund. According to the Investment Funds Act, the share capital of a management company shall be at least EUR 125 000, unless it manages pension funds.