{"id":1730,"date":"2023-06-30T21:54:52","date_gmt":"2023-06-30T19:54:52","guid":{"rendered":"https:\/\/www.hmid.hr\/?page_id=1730"},"modified":"2026-01-05T17:00:57","modified_gmt":"2026-01-05T15:00:57","slug":"capital-fund","status":"publish","type":"page","link":"https:\/\/www.hmid.hr\/en\/capital-fund\/","title":{"rendered":"Capital Fund"},"content":{"rendered":"

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About Capital Fund<\/h1>\n<\/div>
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Capital Fund – performance<\/h2>\n<\/div>

Capital Fund performance since inception (cut-off date December 31st<\/sup>, 2024):<\/span><\/h4>\n<\/div>
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\n\n<\/thead>\n\n\n\n\n\n\n
NAV growth rate<\/td>\n805,8%<\/td>\n<\/tr>\n
CAGR (compounded annual growth rate)<\/td>\n9,9%<\/td>\n<\/tr>\n
NAV growth in million euros<\/td>\n395,5<\/td>\n<\/tr>\n
Dividend paid in million euros<\/td>\n32,7<\/td>\n<\/tr>\n
Number of years since inception<\/td>\n25,8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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NAV growth rate 805,8%<\/strong>
\nCAGR (compounded annual growth rate) 9,9%<\/strong>
\nNAV growth in million euros 395,5<\/strong>
\nDividend paid in million euros 32,7<\/strong>
\nNumber of years since inception 25,8<\/strong><\/p>\n<\/div>

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Capital Fund<\/h2>\n<\/div>

General information about Capital Fund<\/span><\/h4>\n<\/div>
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\n\n<\/thead>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
FUND TYPE:<\/td>\nA closed-end alternative investment fund with a private offer<\/td>\n<\/tr>\n
DATE OF ESTABLISHMENT:<\/td>\nMarch 26th, 1999<\/td>\n<\/tr>\n
REGISTRATION NUMBER:<\/td>\n1436317<\/td>\n<\/tr>\n
PERSONAL\/VAT IDENTIFICATION NUMBER:<\/td>\n08269700991<\/td>\n<\/tr>\n
FUND’S MANAGEMENT COMPANY:<\/td>\nCroatian Pension Investment Company Ltd.<\/td>\n<\/tr>\n
SHARE CAPITAL:<\/td>\n49.991.513,00 EUR<\/td>\n<\/tr>\n
THE NUMBER OF SHARES AND RESTRICTIONS ON SHARES DISPOSALS:<\/td>\n3.845.501 shares; all have been included in the CDCC since October 25th, 2006<\/td>\n<\/tr>\n
NOMINAL VALUE:<\/td>\n13,00 EUR<\/td>\n<\/tr>\n
ISIN:<\/td>\nHRKAPFRA0005<\/td>\n<\/tr>\n
OWNERSHIP STRUCTURE:<\/td>\nCroatian Pension Insurance Institute: 99.992%
\nCroatian Pension Investment Company: 0.008%<\/td>\n<\/tr>\n
FUND’S HEADQUARTERS:<\/td>\nZagreb<\/td>\n<\/tr>\n
DEPOSIT BANK:<\/td>\nCroatian Postal Bank<\/td>\n<\/tr>\n
IBAN:<\/td>\nHR0823900011300003136<\/td>\n<\/tr>\n
REGISTRATION COURT:<\/td>\nCommercial court of Zagreb<\/td>\n<\/tr>\n
INVESTOR PROFILE:<\/td>\nIn accordance with the Croatian Alternative Investment Funds Act, professional or qualified investors can invest in the Fund. It is not intended for retail investors.<\/td>\n<\/tr>\n
AVAILABILITY OF INFORMATION ON FUND:<\/td>\nInvestment memorandum, Articles of Association of Fund and required financial reports are delivered to shareholders (investors) through the website of the Management Company – www.hmid.hr<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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Fund type: A closed-end alternative investment fund with a private offer<\/strong><\/p>\n

Date of establishment: March 26th<\/sup>,1999<\/strong><\/p>\n

Registration number: 1436317<\/strong><\/p>\n

Personal Identification Number: 08269700991<\/strong><\/p>\n

Fund\u2019s management Company: Croatian Pension Investment Company Ltd.<\/strong><\/p>\n

Share Capital: 49.991.513,00 EUR<\/strong><\/p>\n

The number of shares and restrictions on shares disposal: 3.845.501 shares; all have been included in the CDCC since October 25th, 2006<\/strong><\/p>\n

Nominal value: 13,00 EUR<\/strong><\/p>\n

ISIN: HRKAPFRA0005<\/strong><\/p>\n

Ownership structure: Croatian Pension Insurance Institute: 99.992% Croatian Pension Investment Company: 0.008%<\/strong><\/p>\n

Fund\u2019s Headquarters: Zagreb<\/strong><\/p>\n

Deposit bank: Croatian Postal Bank<\/strong><\/p>\n

IBAN: HR0823900011300003136<\/strong><\/p>\n

Registration court: Commercial court of Zagreb<\/strong><\/p>\n

Investor profile: In accordance with the Croatian Alternative Investment Funds Act, professional or qualified investors can invest in the Fund. It is not intended for retail investors.<\/strong><\/p>\n

Availability of information on Fund: Investment memorandum, Articles of Association of Fund and required financial reports are delivered to shareholders (investors) through the website of the Management Company – www.hmid.hr<\/a>\u00a0<\/strong><\/p>\n<\/div>

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SUBJECT OF FUND\u2019S OPERATIONS<\/h3>\n

The subject of the Fund’s operations is the collection of funds through a private offering of its shares and investment of these funds in accordance with the law, rules, and the Statute of the Fund.<\/p>\n<\/div>

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DURATION OF THE FUND<\/h3>\n

The fund was established indefinitely.<\/p>\n<\/div>

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MANAGEMENT BOARD OF THE COMPANY AS THE MANAGEMENT BOARD OF THE FUND:<\/h3>\n

Darko Horvatin, Ph.D., President of Management Board<\/p>\n

Darjan Radi\u010devi\u0107, CFA, Member of Management Board<\/p>\n<\/div>

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FUND\u2019S SUPERVISORY BOARD:<\/h3>\n

Zlatko Lovri\u0107, Chairman of Supervisory Board<\/p>\n

Hrvoje Prusina, Deputy Chairman of Supervisory Board<\/p>\n

Ivana Duvnjak, Member of Supervisory Board<\/p>\n

Ivan Peni\u0107, Member of Supervisory Board<\/p>\n

Cvjetko Obradovi\u0107, Member of Supervisory Board<\/p>\n<\/div>

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DATA ON THE DEPOSITARY OF THE CAPITAL FUND<\/h3>\n

The Fund’s depositary is Hrvatska po\u0161tanska banka d.d. Zagreb, Juri\u0161i\u0107eva 4. The bank has a registered share capital of EUR 161,970,000.00. The bank is registered at the Commercial Court in Zagreb under MBS: 080010698.<\/p>\n

The depositary has approval from:<\/p>\n

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  • Securities Commission of the Republic of Croatia, class: UP\/I-450-08\/03-02\/90, reg. no.: 567-03\/03-3, dated March 26, 2003, for the performance of custody duties;<\/li>\n
  • Croatian National Bank, no. 1213\/2003 of May 14, 2003 for the performance of custody of a depositary bank.<\/li>\n<\/ul>\n

    The Bank performs its depositary duties independently and delegates the storing and settlement of foreign financial instruments to the following third parties with whom it has contracts on delegation of these duties, i.e. sub-depositaries:<\/p>\n

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    • Clearstream Banking SA<\/li>\n
    • State Street International Bank GmbH<\/li>\n
    • Ljubljanska banka d.d. Ljubljana<\/li>\n
    • Vojvo\u0111anska banka a.d. Novi Sad<\/li>\n
    • Stopanska banka a.d. Skopje, R. Makedonija<\/li>\n
    • Crnogorska komercijalna banka d.d., R. Crna Gora<\/li>\n
    • Raiffeisen Bank dd, R Bosna i Hercegovina<\/li>\n
    • Erste & Steierm\u00e4rkische Bank d.d. Zagreb<\/li>\n<\/ul>\n<\/div>
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      Portfolio<\/h2>\n<\/div>
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      SECTOR BREAKDOWN:<\/h3>\n

      as of December 31st<\/sup>, 2024.<\/p>\n<\/div>\n

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      <\/th>\nSector<\/strong><\/th>\nShare in the Fund’s portfolio<\/strong><\/th>\n<\/tr>\n<\/thead>\n
      1.<\/td>\nIndustry<\/td>\n64,1%<\/td>\n<\/tr>\n
      2.<\/td>\nFood and Beverage<\/td>\n11,4%<\/td>\n<\/tr>\n
      3.<\/td>\nOil and gas<\/td>\n5,8%<\/td>\n<\/tr>\n
      4.<\/td>\nInsurance<\/td>\n4,9%<\/td>\n<\/tr>\n
      5.<\/td>\nPharmaceuticals<\/td>\n3,4%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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      COUNTRY BREAKDOWN:<\/h3>\n

      as of December 31st<\/sup>, 2024.<\/p>\n<\/div>\n

      \n\n\n\n\n\n\n\n\n\n
      <\/th>\nCountry<\/strong><\/th>\nShare in the Fund’s portfolio<\/strong><\/th>\n<\/tr>\n<\/thead>\n
      1.<\/td>\nCroatia<\/td>\n76,1%<\/td>\n<\/tr>\n
      2.<\/td>\nSlovenia<\/td>\n9,8%<\/td>\n<\/tr>\n
      3.<\/td>\nRomania<\/td>\n4,7%<\/td>\n<\/tr>\n
      4.<\/td>\nAustria<\/td>\n4,4%<\/td>\n<\/tr>\n
      5.<\/td>\nGermany<\/td>\n1,7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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      COMPANIES BREAKDOWN:<\/h3>\n

      as of December 31st<\/sup>, 2024.<\/p>\n<\/div>\n

      \n\n\n\n\n\n\n\n\n\n
      <\/th>\nCompany<\/strong><\/th>\nShare in the Fund’s portfolio<\/strong><\/th>\n<\/tr>\n<\/thead>\n
      1.<\/td>\nKon\u010dar elektroindustrija d.d.<\/td>\n72,4%<\/td>\n<\/tr>\n
      2.<\/td>\nPodravka d.d.<\/td>\n13,6%<\/td>\n<\/tr>\n
      3.<\/td>\nKrka d.d.<\/td>\n4,1%<\/td>\n<\/tr>\n
      4.<\/td>\nPozavarovalnica Sava<\/td>\n2,9%<\/td>\n<\/tr>\n
      5.<\/td>\nOMV Petrom<\/td>\n2,6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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      SECTOR BREAKDOWN:<\/h3>\n

      as of December 31st<\/sup>, 2024.<\/p>\n<\/div>

      Sector \/ <\/strong>Share in the Fund’s portfolio<\/strong><\/p>\n

      1. Industry 64,1%<\/strong>
      \n2. Food and Beverage 11,4%<\/strong>
      \n3. Oil and gas 5,8%<\/strong>
      \n4. Insurance 4,9%<\/strong>
      \n5. Pharmaceuticals 3,4%<\/strong><\/p>\n<\/div>

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      COUNTRY BREAKDOWN:<\/h3>\n

      as of December 31st<\/sup>, 2024.<\/p>\n<\/div>

      Country \/ Share in the Fund’s portfolio<\/strong><\/p>\n

      1. Croatia 76,1%<\/strong>
      \n2. Slovenia 9,8%<\/strong>
      \n3. Romania 4,7%<\/strong>
      \n4. Austria 4,4%<\/strong>
      \n5. Germany 1,7%<\/strong><\/p>\n<\/div>

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      COMPANIES BREAKDOWN:<\/h3>\n

      as of December 31st<\/sup>, 2024.<\/p>\n<\/div>

      Company\/ Share in the Fund’s portfolio<\/strong><\/p>\n

      1. Kon\u010dar elektroindustrija d.d. 72,4%<\/strong>
      \n2. Podravka d.d. 13,6%<\/strong>
      \n3. Krka d.d. 4,1%<\/strong>
      \n4. Pozavarovalnica Sava 2,9%<\/strong>
      \n5. OMV Petrom 2,6%<\/strong><\/p>\n<\/div>

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