HPB Invest

What HPB Invest does

HPB Invest d.o.o. is a Croatian investment fund management company (društvo za upravljanje UCITS fondovima) founded in 2006 and headquartered at Jurišićeva 4, Zagreb (OIB 77486858909). The firm operates as the dedicated asset management arm of Hrvatska poštanska banka d.d. (HPB), the largest bank under Croatian ownership, and is structured as a wholly-owned subsidiary (limited liability company). Its product set comprises six UCITS open-ended investment funds spanning the full risk-return spectrum: HPB Kratkoročni obveznički fond (short-term bond), HPB Obveznički fond (bond), HPB Plus fond (balanced/mixed), HPB Global fond (global equity), HPB Dionički fond (equity), and HPB Fokus 2026 fond (a defined-maturity target fund maturing in 2026).

The company serves Croatian retail and institutional investors through a single distribution channel: the parent bank's nationwide branch network and digital platforms (HPB eBankarstvo internet banking and the mHPB mobile application). Minimum entry is set at EUR 50 per fund (EUR 100 for selected funds), with monthly investment-plan contributions available from EUR 12; the firm charges no entry or exit commissions and offers a capital gains tax exemption after two years of holding. Revenue is generated via recurring management fees (e.g., 0.8% management plus 0.13% custodian on the short-term bond fund) and ancillary administrative fees. As of 30 June 2026, the equity fund posted a 1-year return of 20.07% (3-year PGP 21.32%) and the global fund 11.07% (3-year PGP 13.42%), while bond and short-term bond funds delivered 1-year returns of 2.65% and 1.83% respectively.

HPB Invest holds a UCITS license under the Croatian Capital Market Act, has attested WCAG 2.1 Level AA accessibility compliance for its website effective 28 June 2025, and has received industry recognition with awards for best bond fund and best balanced mixed fund, although the awarding body and year are not specified. The firm celebrated 20 years of operations in 2026. No AI/ML capability, patent, API infrastructure, or proprietary technology is disclosed; core technology is conventional UCITS administration. Headcount, AUM, revenue, and management-team composition are not publicly disclosed; no acquisitions, funding rounds, leadership changes, or geographic expansions are recorded in the input data.

Name

HPB Invest

Legal name

HPB Invest d.o.o.

Website

https://hpb-invest.hr

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

HPB Invest d.o.o. is a Croatian UCITS fund management company that operates as the asset management arm of Hrvatska poštanska banka, managing six open-ended investment funds distributed exclusively through the parent bank to retail and institutional investors in Croatia.

Ownership category

akta.pro rank

Headquarters

HQ city

Zagreb

HQ country

Croatia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Fund Management Fees: HPB Invest generates revenue through management fees charged on its UCITS investment funds. The company manages six open-ended investment funds with different risk profiles (bond, balanced, and equity funds).

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

HPB Invest d.o.o. is a Croatian UCITS investment fund management company and a wholly-owned subsidiary of Hrvatska poštanska banka d.d. (HPB). It manages six open-ended UCITS funds covering short-term bond, bond, balanced/mixed, global equity, equity, and target-maturity (2026) strategies. Fund units are distributed through the parent bank's branch network and through HPB's internet and mobile banking channels.

Product overview

HPB Invest is an investment fund management company offering six UCITS (Undertakings for Collective Investment in Transferable Securities) open-ended investment funds. The product portfolio includes HPB Kratkoročni obveznički fond (short-term bond fund), HPB Obveznički fond (bond fund), HPB Plus fond (moderate balanced fund), HPB Global fond (global equity fund), HPB Dionički fond (equity fund), and HPB Fokus 2026 fond (target-maturity fund). These funds range from low-risk short-term bond investments to higher-risk equity strategies, covering the full risk-return spectrum for retail and institutional investors in Croatia. Investors can purchase, sell, and exchange fund units through HPB's internet banking (eBankarstvo) and mobile banking (mHPB) platforms.

Differentiator

Problem solved

Functional benefit

Brands

• HPB Kratkoročni obveznički fond: Short-term bond UCITS fund investing in bonds, money market instruments, and deposits primarily from Croatia, EU, and OECD countries.
• HPB Obveznički fond
• HPB Plus fond
• HPB Global fond
• HPB Dionički fond
• HPB Fokus 2026 fond

Products and services

• HPB Kratkoročni obveznički fond (HPB Short-Term Bond Fund)

Quantifiable outcome

• Returns of 20.0679% for equity fund over 1 year (as of June 2026)
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Hrvatska poštanska banka (Croatian Post Bank)coreChannel Partner/ Reseller/ DistributorHrvatska poštanska banka serves as the primary distribution partner for HPB Invest funds. The bank distributes fund units through its branch network, internet banking (eBankarstvo), and mobile banking (mHPB) platform. HPB Invest has delegated fund distribution activities to the bank pursuant to the Capital Market Act.

Scale indicators2 records

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• Amundi: Europe's largest asset manager by AUM with a broad UCITS product suite across all major asset classes. Competes indirectly with HPB Invest in pan-European UCITS distribution and sets benchmark fee levels across the category.
• Eurizon Capital: Italy's largest asset manager and a major European UCITS player with hundreds of funds spanning equities, bonds, balanced, and target-maturity strategies. Relevant incumbent peer given the same UCITS regulatory framework and overlap in product categories.
• BlackRock: World's largest asset manager with extensive UCITS fund range including the iShares ETF brand. Sets fee and product benchmarks across the European UCITS landscape and increasingly available to Croatian retail through digital channels.
• DWS Group: Major European asset manager (formerly Deutsche Asset Management) with extensive UCITS offerings in active and passive strategies. Comparable as a broad incumbent player in the UCITS fund space that Croatian retail investors increasingly access.
• Vanguard: Global low-cost asset manager with a growing European UCITS presence. Comparable as a broad incumbent shaping fee expectations and accessibility standards across UCITS categories relevant to HPB Invest's bond, balanced, and equity funds.

Direct peers

• Allianz Invest: Croatian asset management subsidiary of Allianz Group distributing UCITS funds through Allianz's domestic insurance and bank channels. Comparable as a bank/insurer-affiliated UCITS manager serving Croatian retail investors with multi-asset product suites.
• Erste Asset Management (Croatia): Croatian arm of Erste Group's asset management business, distributing UCITS funds through Erste bank branches in Croatia. Closely comparable bank-embedded distribution model and similar UCITS product set serving Croatian retail investors.
• InterCapital Asset Management: Croatian independent asset manager offering UCITS funds to retail and institutional clients across the domestic market. Directly competes with HPB Invest in the same Croatian UCITS retail segment with overlapping product categories (bond, balanced, equity).
• OTP Invest: Croatian UCITS fund management arm affiliated with OTP Bank, one of the larger regional banking groups in CEE. Comparable bank-distributed UCITS model serving Croatian retail investors with overlapping product categories.
• ZB Invest: Croatian UCITS fund manager affiliated with Zagrebačka banka (UniCredit Group). Competes with HPB Invest through a similar bank-distribution model and comparable UCITS product range targeted at Croatian retail and institutional investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/hpb-invest

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HPB Invest