The fund’s investment objective is the constant appreciation of contributions made by fund investors, primarily in the form of direct and indirect investments in property and development projects of the GARTAL group in Prague and the surrounding area. Revenues from the fund’s investments are from capital gains, dividends and interest.

Fund capital to:
Net asset value:
494 265 733 Kč
499 644 965 Kč
cite icon The fund combines the revenue potential of development activities, the founder’s wealth of experience and the backing of a successful development company with the minimisation of market risk for holders of investment shares.
Ing. Rostislav Petchenko
Co-owner of the GARTAL Group
Fund Founder
Fund name GARTAL Investment Fund SICAV a.s.
Legal form of fund joint-stock company with variable registered capital (SICAV)
Fund type qualified investors fund
Underlying fund assets real estate, residential development and secured receivables
Security issued growth investment shares
Public tradability no
Frequency of subscription of investment shares monthly
Minimum client investment CZK 1,000,000
Entry charge up to 3%
Client’s investment horizon 4 years
Frequency of redemption of investment shares monthly
Payment of redemption of investment shares within 180 days
Exit charge 0% after 3 years
5% up to 3 years
Taxation of fund’s revenues 5% of fund’s profit
Taxation of shareholders natural persons 15% in case of redemption within 3 years, 0% in case of redemption after 3 years
Fund administrator AVANT investiční společnost, a.s.
Depository CYRRUS, a.s.
Auditor PKF APOGEO Audit, s.r.o.


The fund’s portfolio comprises primarily development projects of the GARTAL group in Prague and the surrounding area.

Projects in progress:


Prime Vršovice

Almost 70 investment apartments in the center of Vršovice in Prague 10. Due to the location in one of the most attractive locations in Prague, they will be suitable both for own use and for short-term or long-term rental.


Moje Kubáň

A comprehensive and careful reconstruction of a house from the 1960s, located in the center of Kubánské náměstí, will create over 100 original units ranging in size from 1+kk to 3+kk and commercial units on the ground floor.


Zelené kaskády

The new residential project Zelené kaskády is located in a quiet part of Prague 9. It will offer from practical 1+kk apartments with front gardens to extra-large 4+kk apartments with terraces. The project also includes 3 commercial spaces.


View Spořilov

In Prague 4 you will find a new ten-storey building that offers almost 70 apartments. Each of them will have a balcony, French windows for maximum daylight and floor heating. The project comes with a parking building for more than 100 cars.


Pod Bertramkou

Premium project in Prague 5, Smíchov. Quiet living near the forest with the city center within reach.


Viladům Hloubětín

Completely renovated project with 13 investment units. It is located in Prague 9 near the Hloubětín metro station.


Zelené údolí

A new development in the picturesque village of Tuchoměřice in the Prague-West district. Apartments ranging from 1+kk to 3+kk are suitable for personal use or as an investment opportunity.


Říčany Tower

Reconstruction of the Alfa Tower building in Říčany into a modern multifunctional building. Emphasis is placed on environmental sustainability and energy saving measures, including green roofs.


Investment Focus
Properties and Development Projects
Volume of Fund’s Assets
to 30.11.2023 approx. CZK 499 m
Investment horizon
4 years
Real yield (GIS), p.a.
  • checkAbove-standard yield of growth investment shares (GIS) of 7 to 8% p.a.
  • checkGuarantee of minimum yield of GIS totalling 7% p.a., in the event of lower profit or even a loss by the fund. A guarantee in the form of the redistribution of fund capital from holders of performance investment shares in favour of holders of growth investment shares, up to the amount of such fund capital.
  • checkA priority share in the fund’s profits (ahead of the fund’s founders, who hold investment shares) up to 7% p.a. A secondary share in any loss made by the fund; a loss is first settled from the fund’s capital from holders of performance investment shares.
  • checkLong-term investment in real values with stable growth, a higher degree of portfolio diversification.
  • checkThe professional backing of a successful Prague development company, professional asset management, the fund representatives’ expertise and wealth of experience.
  • checkControls on handling of fund assets by the depository, supervision by the Czech National Bank.
  • checkLow entry fees and zero exit charges if the conditions set out in the statutes are complied with.
  • checkLow 5% tax rate on income for investment funds, option of exemption from income tax in case of redemption of investment shares after three years.
  • check
    It is possible to obtain the aforementioned information in documentary form at the registered office of AVANT investiční společnost, a.s., CITY TOWER, Hvězdova 1716/2b, 140 00 Prague 4 – Nusle. Information on the processing of personal data relating to Act No. 110/2019 Coll., on the processing of personal data, can be found on the website of AVANT investiční společnost, a.s.


We invest together with our investors—the fund’s founders are also the shareholders. We don’t earn money off you, we want to earn money with you.

We are conservative, we don’t take risks, we hedge, invest and develop.

Our biggest benefit is the yield guarantee—with us you will appreciate your investments by at least 7% p.a.





PKF APOGEO Audit, s.r.o.
A respected advisory group active on the Czech market since 2001, it checks the maintenance of the fund’s accounts and compliance with the rules when managing the fund’s assets.


The Czech National Bank supervises the activities of the fund, investment company and depository bank, it requires regular reports on the fund’s financial management and is a general guarantee for the safety of investments.


CYRRUS, a.s.
Handling of the fund’s assets is checked in ongoing fashion, the purpose of every item on the fund’s account must be documented by the depository, it arranges the custody of the fund’s securities.

Administrative Board

A supervisory body that has the primary power of review regarding the investment company.

Investment Process

Every investment plan must be assessed before its realisation through an analysis of its economic benefit that is drafted by the investment company’s Risk Manager, an investment plan is subsequently assessed by the fund’s Investment Committee and an opinion is issued; the compliance of a plan with the fund’s investment strategy is assessed and its realisation is approved by the Asset Management Director of the investment company’s fund.

Fund Administrator and Manager

AVANT investiční společnost, a.s.
It manages the fund’s assets in accordance with the fund’s statutes and the Act on Investment Companies and Investment Funds; it acts on the fund’s behalf; it signs contracts for the fund; it performs the fund’s duties to the state administration (accounting, taxes), the Czech National Bank (monthly reporting of the financial statements, information about changes) and the depository bank. The investment company informs the fund’s shareholders of the value of investment shares, issues investment shares and maintains the list of shareholders.

Investment Committee

It assesses individual investment plans based on the submitted economic benefit analysis and issues opinions for decisions by the investment company.


A project company owned and controlled by the fund that realises individual development projects using the fund’s resources.

Statutory Body

AVANT investiční společnost, a.s.
The fund’s statutory body is elected by the general meeting based on the articles of association whose members are entered in the Commercial Register.


Memorandum & Factsheet
Fund’s Statutes
Fund Logo
Annual Report for 2023
Annual Report for 2022
Annual Report for 2021
Annual Report for 2020
Annual Report for 2019

AVANT investiční společnost, a.s., is the manager of qualified investors funds pursuant to Act No. 240/2013 Coll., on Management Companies and Investment Funds, and a qualified investor can become a shareholder or unit owner in them pursuant to Section 272 of this act.

The fund manager warns investors that the value of an investment in the fund may both rise and fall and that the return of the original investment is not guaranteed. The performance of the fund in the past is not indicative of the same or higher performance in the future. A yield from an investment in the fund is achieved when held for the mid-term to long-term period and thus is not suitable for short-term speculation. Potential investors should namely weigh the specific risks that may arise from the fund’s investment goals as described in its statute. Investment goals are reflected in the recommended investment horizon, as are fund fees and expenses.

The detailed information contains the fund statute and the Key Information Document (KID). The KID is available at It is possible to obtain the aforementioned information in documentary form at the registered office of AVANT investiční společnost, a.s., CITY TOWER, Hvězdova 1716/2b, 140 00 Prague 4 – Nusle.

Other important information for investors can be found at:

The given information is only of an informative nature and does not represent a proposal for the conclusion of a contract or a public offer according to the provisions of the Civil Code.

GARTAL Investment fund SICAV a.s., IČO: 05479819. Sídlo: Kovářská 2537/5, Libeň, 190 00 Praha 9. Spisová značka: B 21934 vedená u Městského soudu v Praze. Datová schránka: 2av4p8y

LEI: 315700KCEJ1P10OGGC45

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    GARTAL Holding a.s.
    Kovářská 2537/5
    190 00 Praha 9 - Libeň
    Mon - Fri: 09.00 - 18.00