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2018-11-08
SPCG Law Firm advised on the creation of the first Polish closed-end investment fund Beta ETF WIG20TR, which has been just authorized by Polish FSA (KNF).
The Polish Financial Supervision Authority authorized the creation of the first Polish closed-end portfolio investment fund (Beta ETF WIG20TR FIZ). It is a new instrument on the domestic investment market, opening up opportunities for investors to effectively and at the same time price-wise investing on the WSE (GPW).

This is the first ETF fund in a closed-end fund formula launched in Poland, with unprecedented construction of continuous issuance and redemption of investment certificates, with their simultaneous listing on the WSE. Its creation required the application of many innovative legal solutions and a number of consultations with the PFSA, the WSE and the NDS (KDPW).

The SPCG Law Firm acted as legal advisor in the process related to the creation of the Fund, obtaining the PFSA authorization and approval of the prospectus for Series A Certificates and Certificates of Series B Fund prepared in connection with the public offer of these certificates, applying for their admission and introduction to trading on the regulated market organized by the WSE. The SPCG’s team was led by Ewa Mazurkiewicz, Partner, supported by Artur Zapała, Partner.

The fund has been created by AgioFunds TFI in cooperation with the Brokerage House of Bank Ochrony Środowiska acting as the offering entity.