ZFP Investments, investiční společnost, a.s.

What ZFP Investments, investiční společnost, a.s. does

ZFP Investments, investiční společnost, a.s. is a Czech-regulated investment management company headquartered in Prague 4, founded in 2012 and authorized by the Czech National Bank in January 2013. The company is 100% owned by ZFP GROUP (via ZFP RF s.r.o.) and operates with a small team of roughly 10 employees. Its sole operating mandate is the management and administration of the ZFP realitní fond (ZFP Real Estate Fund), an open-ended mutual fund that invests in premium commercial real estate — office, retail, and logistics — across the Czech Republic, Slovakia, Poland, and Hungary.

The fund's portfolio of 11 properties is anchored by long-lease institutional tenants such as Lenovo, Hyundai, General Electric, Raiffeisen Bank, Zurich Insurance, and REWE Group subsidiaries (Penny Market, Billa), with several assets holding BREEAM or LEED certifications. Capital is raised from retail and qualified investors through the ZFP akademie advisor network, a self-service online portal (zfpionline), and a tax-advantaged long-term investment wrapper (DIP) that supports employer contributions up to 50,000 CZK per year. The fund is offered in CZK (since 2013) and EUR (since January 2026) share classes, with a minimum initial subscription of 500 CZK (or 20 EUR for the EUR class).

The revenue model is a hybrid of recurring asset-based fees (1.75% annual management fee on AUM of approximately 15 billion CZK as of July 2026) and transactional fees (3% entry fee with promotional rates of 1–2%). Fund-level returns posted a 91.65% cumulative return since June 2013 inception, with a 5.74% average annual return over the past five years. Operating geography spans four Central European countries, with Slovakia now the largest portfolio segment at 56% following the September 2025 acquisition of Bory Mall in Bratislava.

Name

ZFP Investments, investiční společnost, a.s.

Legal name

ZFP Investments, investiční společnost, a.s.

Website

https://zfpinvest.com

Company type

Private

Founded year

2012

Operating status

Operating

Short description

ZFP Investments is a Czech-regulated investment management firm (CNB-licensed, 2013) that manages the ZFP Real Estate Fund, an open-ended mutual fund investing in premium commercial properties across Czech Republic, Slovakia, Poland, and Hungary, serving retail and qualified investors via the ZFP akademie advisor network and an online portal.

Ownership category

akta.pro rank

Headquarters

HQ city

Prague 4 (Krč)

HQ country

Czechia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: The fund charges a management fee of 1.75% for administering and managing the ZFP realitní fond (ZFP Real Estate Fund). This is an annual recurring fee calculated based on assets under management.
2. Entry/Subscription Fees: Entry fee of 3% on investor subscriptions, with promotional rates of 1% or 2% during marketing campaigns. This one-time fee is charged when investors purchase participation certificates (podílové listy).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

ZFP Investments is a Czech National Bank-licensed investment company that manages and administers the ZFP realitní fond (ZFP Real Estate Fund), an open-ended real estate mutual fund investing in premium commercial properties (retail, logistics, office) across the Czech Republic, Slovakia, Poland, and Hungary. The fund is accessible to retail investors from a 500 CZK minimum investment, with a 1.75% annual management fee and 3% entry fee, and is also offered via the DIP (Long-term Investment Product) tax-advantaged retirement framework.

Product overview

ZFP Investments operates as an investment management company authorized by the Czech National Bank, offering a unified product platform centered on the ZFP Real Estate Fund (ZFP realitní fond). The core offering is an open-ended real estate mutual fund that invests in premium commercial properties across four Central European countries. Supporting the fund are the DIP (Long-term Investment Product) providing tax-advantaged retirement savings options, and an online client access portal. The fund is available in two share classes (CZK launched June 2013, EUR launched January 2026) with a minimum investment of 500 CZK or 20 EUR.

Differentiator

Problem solved

Functional benefit

Products and services

• ZFP Real Estate Fund (ZFP realitní fond) Open-ended real estate mutual fund investing primarily in premium commercial properties (retail, logistics, office) across the Czech Republic, Slovakia, Poland, and Hungary. Targets retail and qualified investors with a 500 CZK minimum (CZK class) or 20 EUR (EUR class), 1.75% annual management fee, and 3% standard entry fee. As of 31.07.2026, AUM of approximately 15 billion CZK.
• DIP (Dlouhodobý investiční produkt) - Long-term Investment Product Tax-advantaged long-term investment wrapper providing retirement savings benefits. Allows investment in fund units, bonds, publicly traded shares, and money market instruments, with potential annual tax savings up to 48,000 CZK and employer contributions up to 50,000 CZK. Designed for Czech individual investors seeking retirement savings.
• Online Client Access (zfpionline)

Quantifiable outcome

• 5.74% average annual return over 5 years
• +3 more outcomes

Named customers13 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• GEMO DEVELOPMENTminorStrategic or Co-development Partner · 1 January 2018Developer of Obchodní centrum Forum in Poprad. ZFP real estate fund acquired the property and partnered with the local developer who has extensive experience in retail center operations. GEMO is part of GEMO holding group.
• ATENORminorStrategic or Co-development Partner · 1 January 2016Belgian development company that built Váci Greens C office building in Budapest. The building received several international awards and BREEAM 'Excellent' certification. ATENOR develops large-scale urban projects across Europe.
• IAD InvestmentscoreStrategic or Co-development Partner · 1 January 2012Slovak investment company with long-term experience in creating and managing investment funds. ZFP Investments was established in cooperation with IAD Investments, which brought extensive expertise in fund creation and management. This partnership enabled ZFP realitní fond to become one of the largest real estate funds in the Czech Republic.
• ZFP akademie, a.s.coreChannel Partner/ Reseller/ Distributor · 1 January 2012Founded ZFP Investments company. Provides network of financial advisors/traders who distribute the ZFP real estate fund to retail investors. Part of the ZFP GROUP ecosystem.
• Československá obchodní banka, a.s. (ČSOB)coreOthersDepositary bank for ZFP realitní fond. Performs control activities over compliance with fund asset management obligations. Provides bank account services for fund operations (account 266443343/0300 for CZK payments, IBAN CZ67 0300 1712 8002 6644 3343 for EUR payments).

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• REICO (člen skupiny Erste Group): Czech investment company within the Erste Group that manages REICO ČS nemovitostní fond, the largest open-ended real estate mutual fund in the Czech Republic. Closest direct competitor to ZFP realitní fond, operating under the same CNB license framework and targeting similar Czech retail investors with commercial real estate exposure.
• IAD Investments: Slovak investment company that co-founded ZFP Investments and continues to operate as a strategic partner. IAD manages multiple open-ended and qualified-investor funds across asset classes including real estate, making it both a peer and a partner in the Slovak/Czech market.
• AVANT Fund Management: Czech investment company managing a portfolio of qualified investor funds including real estate vehicles. Operates under CNB authorization with a similar structure of multiple alternative-asset fund products, directly comparable to ZFP's model.
• REDSIDE investiční společnost: Prague-based investment company managing open-end real estate funds and qualified investor funds focused on CEE commercial real estate. Similar CNB-regulated structure and target investor base as ZFP Investments.

Broad incumbents

• Erste Asset Management GmbH: Austrian asset manager (parent of REICO) operating one of the largest CEE fund platforms including real estate, bond and equity funds. Broader product set and parent-bank distribution give it scale advantages over ZFP, but it competes directly for Czech/Slovak retail real-estate allocations.
• Conseq Investment Management: Czech investment management company within the Conseq Group offering mutual funds including real estate-focused products. Operates under CNB license and serves institutional and retail investors across the Czech market.
• Amundi Czech Republic Asset Management: Czech subsidiary of European asset manager Amundi, managing a diversified fund range including real estate funds. Competitor for Czech retail savings via global brand and broader product suite.
• Generali Investments CEE: Investment company within Generali's CEE operations, managing mutual funds and qualified investor funds including real estate strategies. Competes for Czech and CEE retail and qualified investor capital via tied insurance and bank distribution.
• Schroder Investment Management (Czech branch): Czech branch of global asset manager Schroders, offering diversified funds including real estate strategies. Competes at the higher end of the Czech retail and institutional market with international brand and product breadth.
• NN Investment Partners (Czech operations): Asset management arm operating in the Czech Republic with mixed-asset and real estate fund offerings. Competes for CEE retail investor flows via pension and insurance parent distribution channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

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 ZFP Investments, investiční společnost, a.s.