New fund manager EfTEN Capital receives activity licence
The Financial Supervision Authority has granted EfTEN Capital AS an activity licence as a fund manager. EfTEN Capital is going to manage real estate funds and additionally provide a real estate related consulting and property management service.
The management board of EfTEN Capital AS includes Viljar Arakas and Maie Kütt and its management board includes Hannes Tamjärv, Olav Miil, Jaan Pillesaar, Peeter Mänd and Arti Arakas. EfTEN Capital has a total of ten shareholders, of which OÜ Miemma Holding owned by Viljar Arakas is the largest with a 35% shareholding.
The management of investment funds requires an activity licence from the Financial Supervision Authority, which the Authority has previously issued to the public limited companies Avaron Asset Management, Danske Capital, ERGO Varahalduse AS, GILD Fund Management, GILD Property Asset Management, Hansa Investment Funds, Kawe Kapital, LHV Varahaldus, Limestone Investment Management, Nordea Pensions Estonia AS, Redgate Varahaldus, SEB Varahaldus, Trigon Alternative Funds and Trigon Funds.
The principal field of activity for a fund manager is the management of funds and securities portfolios: management of the issuing and repurchase of fund units, maintenance of records on assets and other relevant activity. One fund manager may manage several funds.