unis čr bodies

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unis čr bodies

REPORT FROM THE BOARD OF TRUSTEES OF UNIS ČR ON
ACTIVITIES OF THE UNION FOR THE PERIOD FROM THE LAST
GENERAL ASSEMBLY, HELD ON JUNE 10, 2003 AND THE
MAIN TASKS FOR THE NEXT PERIOD
Firstly, let us summarise the past developments in the collective investment industry. The year 2003 was successful from the perspective
of an increase in assets in open-end mutual funds, although the anticipated growth rate was not achieved. The development of fund assets
was significantly influenced by the VAT change of institutional investors and by the modification of the Law on investment companies
and investment funds, forbidding the fund dividend payment more than once a year. These facts caused a significant decrease in assets
of funds determined for institutional investors of approx. CZK 10 billion. The total assets in open-end mutual funds grew from CZK 99.9 billion
to CZK 105.2 billion in 2003. Net sales of shares of funds amounting to CZK 2.6 billion accounted the most for this increase. The highest
increase in financial means was recorded by bond funds equalling CZK 6.5 billion and money market funds with net sales of CZK 2.3 billion.
The above mentioned facts relating to institutional funds caused lower total net sales of money market funds by the aforementioned CZK
10 billion. It can be said that the decrease of institutional funds was balanced by new investments from minor investors. With regard to
the fact that even foreign funds recorded a significant increase in assets, it seems that the period of distrust from minor investors towards
fund investment is over. It can be expected that after learning more about the real functioning of the fund sector and the prospective boom
of the capital markets, the investors will also shift their investments to a more risky groups of funds.
■
During 2003, assets in open-end mutual funds rose from CZK 99.9 billion to CZK 105.2 billion, i. e. by CZK 5.3 billion
Total sales were CZK 75.4 billion
■ Total redemption volume was CZK 72.8 billion
■ Total net sales thus equalled CZK 2.6 billion.
■
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Such trends have been continuing in 2004. In the first four months, net sales were CZK 2 billion when total sales equalled CZK 9.1 and
the total redemption volume amounted to CZK 7.1 billion.
Investors shifted their attention towards money market funds while bond funds recorded negative net sales.
The overview of activities of the Union of Investment Companies of the Czech Republic in the period from June 2003 to May 2004 follows.
A. Organisational and Membership Issues:
A.1. GENERAL ASSEMBLIES
The last regular General Assembly of the Union was held on June 10, 2003. It only adopted minor changes in the By-Laws concerning the wording of determination of membership payment. In the period from the last regular General Assembly, one extraordinary General
Assembly was held on February 26, 2004 with the only item on the agenda admitting the AMSLICO AIG Funds správcovská společnost,
a. s. as a regular member of UNIS ČR.
A.2. MEMBERSHIP BASE
As of the date of the last regular General Assembly, i. e. June 10, 2003, the Union had 12 regular members, 11 associate members and
one partner. At the last regular General Assembly, the following entities were admitted as associate members:
UNIVYC, a. s.
Association of Registered Investment Agents of the Czech Republic
As of January 13, 2004, the company První investiční společnost, a. s. investiční společnost, a. s. terminated its regular membership following the decision of the General Assembly on going into liquidation. The company InvestAGe, investiční společnost, a. s. terminated its
regular membership as of January 26, 2004 following the decision of the General Assembly on going into liquidation.
As of May 31, 2004, the Union had 11 regular members:
AKRO investiční společnost, a. s.
AMSLICO AIG Funds správcovská společnost, a. s.
ČP Invest investiční společnost, a. s.
ČSOB Investiční společnost, a. s., member of the ČSOB group
Investiční kapitálová společnost KB, a s.
Investiční společnost České spořitelny, a. s.
– representative of the ESPA (ERSTE Sparinvest) family of funds
J&T Asset management, investiční společnost a. s.
Pioneer česká investiční společnost, a. s.
Pioneer česká finanční společnost, s. r. o.
ŽB-Trust, investiční společnost, a. s.
The Union also has thirteen associate members and one partner.
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A.3. BOARD OF TRUSTEES
The regular General Assembly held on May 14, 2002 elected a new Board of Trustees of UNIS ČR in the following constitution:
RNDr. Petr Zapletal, Investiční společnost České spořitelny, a. s.
Ing. Jiří Brabec, ŽB-Trust, investiční společnost, a. s.
Ing. Pavel Pršala, Investiční kapitálová společnost KB, a. s.
Mgr. Roman Pospíšil, Pioneer česká investiční společnost, a. s.
Ing. Ivan Foltýn, První investiční společnost, a. s.
Ing. Martin Sankot, ČP Invest investiční společnost, a. s.
Ing. Vít Vařeka, AKRO investiční společnost, a. s.
Mgr. Jan Barta, ČSOB investiční společnost, a. s., member of the ČSOB group
Mgr. Miloslav Zábojník, J&T asset management, investiční společnost, a. s.
At the first meeting of the Board of Trustees, which was held immediately after the General Assembly on May 14, 2002, RNDr. Petr Zapletal
was appointed the Chairman of the Board and Ing. Jiří Brabec and Ing. Pavel Pršala its Vice-chairmen.
Several changes in the constitution of the Board of Trustees have taken place in the next period:
■ As of July 8, 2003, Ing. Ivan Foltýn from První investiční společnosti, a. s. resigned following liquidation of the company
■ As of May 25, 2004, Ing. Pavel Bodlák representing AMSLICO AIG Funds správcovská společnost, a. s. was co-opted the member of the Board
■ As of May 31, 2004, Ing. Martin Sankot from ČP Invest, investiční společnosti, a. s. resigned following the termination of his employment contract.
■ As of June 22, 2004 Ing. Pavel Veselý from ČP Invest, investiční společnosti, a. s. was co-opted the member of the Board
The Union Board of Trustees steps before the General Assembly in the following constitution:
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Chairman of the Board
RNDr. Petr Zapletal, Investiční společnost České spořitelny, a. s.
Vice-chairmen of the Board
Ing. Jiří Brabec, ŽB-TRUST, investiční společnost, a. s.
Ing. Pavel Pršala, Investiční kapitálová společnost KB, a. s.
Members of the Board
Mgr. Roman Pospíšil, Pioneer česká investiční společnost, a. s.
Ing. Pavel Veselý, ČP Invest investiční společnost, a. s.
Ing. Vít Vařeka, AKRO investiční společnost, a. s.
Mgr. Miloslav Zábojník, J&T asset management, investiční společnost, a. s.
Mgr. Jan Barta, ČSOB investiční společnost, a. s., member of the ČSOB group
Pavel Bodlák, AMSLICO AIG Funds správcovská společnost, a. s.
With regard to the fact that the term of office of members of the Board of Trustees is
two years, the regular General Assembly will only renew the members of the Board.
A.4. ETHICS COMMITTEE
After the regular General Assembly held on June 10, 2003, the Ethics Committee worked in the following constitution:
Chairman
Ing. Pavel Hoffman, Investiční kapitálová společnost KB, a. s.
Vice-chairmen
Ing. Jana Doucková, ČP INVEST, investiční společnost, a. s.
Ing. Vendulka Klučková, ŽB-Trust, investiční společnost, a. s.
In-house members
Ing. Martin Burda, Investiční společnost České spořitelny, a. s.
Ing. Jana Procházková, investAGe, a. s. investiční společnost
Ing. Kateřina Palková, Pioneer česká investiční společnost, a. s.
Ing. Drahomíra Laserová, První investiční společnost, a. s.
Outside members
Ing. Martin Gradavský, Association of Registered Investment Agents of the Czech Republic
Ing. Petra Wendelová, Ernst & Young, s. r. o.
Ing. Helena Čacká, UNIVYC, a. s.
Ing. Miroslav Singer, PricewaterhouseCoopers, s. r. o.
In 2004, Ing. Drahomíra Lamserová and Ing. Kateřina Palková resigned from their positions of in-house members following changes in
companies they represented.
The Ethics Committee appeared before the General Assembly 2004 in the following constitution:
Chairman
Ing. Pavel Hoffman, Investiční kapitálová společnost KB, a. s.
Vice-chairman
Ing. Jana Doucková, ČP INVEST, investiční společnost, a. s.
Ing. Vendulka Klučková, ŽB-Trust, investiční společnost, a. s.
In-house members
Ing. Martin Burda, Investiční společnost České spořitelny, a. s.
Ing. Jana Procházková, J&T asset management, investiční společnost a. s.
Outside members
Ing. Martin Gradavský, Association of Registered Investment Agents of the Czech Republic
Ing. Petra Wendelová, Ernst & Young, s. r. o.
Ing. Miroslav Singer, PricewaterhouseCoopers, s. r. o.
Ing. Helena Čacká, UNIVYC, a. s.
The term of office of Ing. Jana Procházková and the outside member Ing. Miroslav Singer expires this year. The terms of office of other members continue
for another year. The General Assembly will elect new members on vacant positions on the basis of proposals of membership companies.
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A.5. ACCOUNT CONTROLLERS
The General Assembly held on May 14, 2002 elected Ing. Jarmila Čermáková (První investiční společnost, a. s., now ČSOB investiční
společnost, a. s., member of the ČSOB group) and Ing. Jana Dlouhá (investAGe, a. s. investiční společnost, now J&T asset management,
investiční společnost, a. s.) to be the controllers of UNIS ČR accounts for a two-year period. Their term of office expires this year so the
General Assembly will have to elect new account controllers on the basis of nominations from membership companies.
A.6. GENERAL MANAGER
Ing. Martin Hanzlík took the position of General Manager on June 15, 2002.
B. Important Activities of the Union in the Past Period:
B.1. PREPARATION OF THE STRATEGY, THE BUDGET AND MEMBERSHIP FEES
After budget reductions in past years, it almost remains the same; further decrease in payments of membership companies will have to be
handled on the income side rather than from expenditures. It means focussing on acquiring new members and involving them in the Union
activities. It is also important for the internal Union situation towards performed activities. After a strong consolidation of the sector and changes
in membership companies, it more difficult to assign the work groups of different topics.
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The definition of the changes of the By-Laws was a result of the change of the concept in the past period. The key change concerned the modification of the view on regular Union members as whole financial groups and not only individual legal entities.
After this change, these undertakings are considered one entity in view of the fees,
(important savings as far as the fixed part of the fees is concerned). In 2004, the By-Laws
of the European Association of Collective Investment FEFSI have been changed responding to the UCITS III directive which enables investment companies to pursue asset
management operations. In correspondence with this directive, FEFSI enabled corporate
undertakings to become members and it expects to encompass the whole asset management industry. Following the changes, the Union should also change its aims and
should, in the future, encompass the same range of activities as FEFSI. The experience of FEFSI with this change is expected to be used.
Other outcomes from the Union strategy are described in Section D of this report.
B.2. PREPARATION OF THE LAW ON COLLECTIVE INVESTMENT AND OTHER LEGISLATIVE ISSUES
Participation in the preparation of the new Law on collective investment was a very important activity of UNIS ČR. The law was approved
both by the Parliament and the Senate and came into effect on May 1, 2004. It can be stated that the last version of the law is principally
in compliance with the aims set by UNIS ČR members, which means that the law contains key points enabling further development of this
industry. Unfortunately, the Budget Committee of Parliament changed the initial investment limits of special funds and thus almost prevented investors from effective investment into new types of funds. Neither has the definition of SICAV funds been incorporated into law.
In May 2004, a work group for the law amendment was established at the Ministry of Finance of the ČR and the amendment is expected
to come into effect in 2005 or 2006.
Another issue discussed with the Ministry of Finance concerned the amendment of the Law on investment companies and investment
funds in the section referring to the fund opening. The Law on investment companies and investment funds was successfully amended at
the end of 2003 and the beginning of 2004 and the complaints relating to the transition of investment funds to open-end mutual funds have
been settled.
B.3. MODIFICATION OF FUND TAXATION
One of the key tasks of UNIS ČR concerned continuation of an effort of decreasing the taxation of mutual and investment funds towards
the system common to mutual funds abroad. The Union elaborated an in-depth analysis of the current situation in the collective investment sector in the ČR and on the basis of an MP's amendatory proposal, the fund taxation was lowered from the former 15 % to 5 %, with
effect from January 1, 2004. The key objective of the Union was thus met and on the basis of the discussion with the Ministry of Finance
of the ČR the rate can be expected to drop to 3 % from January 1, 2005.
B.4. OTHER IMPORTANT ACTIVITIES OF UNIS ČR
The Union closely co-operates with the Association of Registered Investment Intermediaries and participated in the preparation of the methodology
for their training and education. The Union provided the Securities Commission documents for the Commission material on conceptual changes
in the capital market. The Union participated in the preparation of the conference organised by Euromoney - Asset Management in the EU Accession
Countries. The Union General Manager spoke on the promotion of the collective investment sector and the Union activities at several specialised
seminars in the course of the year. Negotiations with the Ministry of Finance regarding the regressive taxation of mutual funds after their overtaking
by another investment company were successful.
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B.5. CO-OPERATION WITH THE SECURITIES COMMISSION
In the given period, co-operation with the Securities Commission mainly in the sphere of the legislation (preparation of the law on collective investment), education (important co-operation in the field of educational programs focused on investment mediators, schools, state
institutions, etc.) and the concept (a memorandum on mutual co-operation was signed), has become significantly more active. The memorandum on mutual co-operation rounded off the Union's efforts to bring closer the activities concerning the preparation of laws, resolutions, the development of the capital market and the education of investors. This memorandum is exceptional because the Securities
Commission has, for the first time, signed a similar document with an entity associating companies under the control of the SC. The signature represents a public acknowledgement of an important self-regulatory role of the Union in the collective investment industry and in
the development of the capital market in the ČR.
The preparation of the concept and the programme for the support of investors' education in co-operation with the Securities Commission
played an important role. The Commission divided the educational programme into three sections:
1) Fit for Investment – education of small investors
2) Investor's Advisor – education of college, specialised college and university students
3) Professional – education of state administration employees, the municipal employees, state attorneys, investment mediators, etc.
The Union has been active in all three sectors and has been the professional guarantor of these educational cycles. The general manager
and representatives of member companies regularly participates in these educational programmes as lecturers. In order to support investor
knowledge, the Union, in co-operation with the department of external relations of the Securities Commission, has prepared a brochure
entitled “The Art to Invest”.
B.6. CO-OPERATION WITH THE ASSOCIATION FOR THE CAPITAL MARKET (AKAT)
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In 2004, the Union and AKAT agreed on organising a joint press conference with presented results of funds in the ČR for 2003 both of domestic undertakings and foreign funds operating in the ČR. This joint activity can be assumed to continue in the coming period and similar comparisons should always be presented at the half year and at the end of the year.
B.7. INTERNATIONAL ACTIVITIES OF THE UNION
UNIS ČR continues to be an active member of the European Federation of Investment Companies and Funds (FEFSI). Ing. Jiří Brabec represents the Union in the FEFSI Board of Directors. The Union Board of Trustees recommended Ing. Brabec as the representative of the Czech
Republic in the FEFSI Board of Directors for the next term of office (two years). His candidacy was confirmed at the FEFSI General Assemble
held on June 12-14, 2003 in Budapest. The benefits of this membership are unambiguously positive, not only due to the access to data
and information,but also due to the know-how for discussions on development of the domestic regulation and its standardisation with regulations of the European Union
C. Activities of Professional Commissions and Work Groups
The activities of professional commissions and work groups play an important role in the whole Union because a large number of experts from
our members work there and at the same time, they represent a major benefit to the solution of issues affecting all or some of our members.
Work in professional commissions and work groups is very time consuming for members already heavily committed within their mother companies. The Board of Trustees highly appreciates their work and thanks them for it.
The Legislative Commission and the Financial and Tax Commission have taken a standing position in the activities of the Union.
C.1. LEGISLATIVE COMMISSION
Currently, the Legislative Commission works in the following constitution:
Chairman
JUDr. František Tlustoš, ČP Invest investiční společnost, a. s.
Members
Mgr. Libor Vacek, Advokátní kancelář Balcar Polanský Bortin Rose, v. o. s.
Mgr. Andrea Cejnarová, Advokátní kancelář Pokorný, Wagner & spol.
Mgr. Jakub Joska, Advokátní kancelář Vyroubal Krajhanzl Školout a spol.
Mgr. Martin Vít, ČSOB investiční společnost, a. s., member of the ČSOB group
Ing. Marek Moudrý, Deloitte & Touche spol. s r. o.
JUDr. Vlasta Belicová, Investiční kapitálová společnost KB, a. s.
JUDr. Karel Choc, Investiční společnost České spořitelny, a. s.
Mgr. Ivo Enenkl, J&T Asset Management, investiční společnost a. s.
Mgr. Nina Tobiášová, Pioneer česká investiční společnost, a. s.
Ing. Jan Fořt, RM-SYSTÉM, a. s.
JUDr. Daniel Weinhold, Ph.D., Weinhold Legal v. o. s.
JUDr. Věra Filkuková, Weinhold Legal v. o. s.
Mgr. Radka Šmídová, ŽB-Trust, investiční společnost, a. s.
C.2 FINANCIAL AND TAX COMMISSION
Currently, the Financial and Tax Commission works in the following constitution:
Chairman
Ing. Jan Drápal, Investiční kapitálová společnost KB, a. s.
Vice-Chairman
Ing. Jana Dlouhá, J&T Asset Management, investiční společnost a. s.
Members
Ing. Vítězslav Vojáček, ČSOB investiční společnost, a. s., member of the ČSOB group
Jiří Jirman, Deloitte & Touche spol. s r. o.
Ing. Ondřej Janeček, Ernst & Young, k. s.
Milena Hůlová, Investiční společnost České spořitelny, a. s.
Ing. Martin Švalbach, PricewaterhouseCoopers Audit, s. r. o.
Ing. Helena Haškovcová, RM-SYSTÉM, a. s.
RNDr. František Vencl, ŽB-Asset Management
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D. Aims of the Union for the Future
At its meeting held in November 2002, the Board of Trustees approved a Union long-term mission and subsequent target spheres for
a long-term period (three years and more).
MISSION:
TO SUPPORT THE COLLECTIVE INVESTMENT ENTERPRISE
AND TO CONTRIBUTE TO ITS DEVELOPMENT, GROWTH AND PROTECTION OF INVESTORS.
OBJECTIVES:
1) To officially represent the industry to civil service entities, regulatory bodies and other undertakings of the financial market.
(To encompass the whole collective investment industry, i. e. to organise most market participants who operate on the basis of the law
regulating the collective investment)
2) To be active in determining the strategy of a further development of the industry in compliance with European trends. (Active
relationships with FEFSI and other European organisations, accession of the ČR to the EU).
3) To unify conditions for domestic and foreign collective investment undertakings and to expand the potential for collective investment instruments in the economy. (Taxes, the degree of regulation, the use of funds in the pension system, etc.)
4) To increase the industry status and the protection of investors by active influencing on its members and the sector as a leading
self-regulatory organisation. (Transfer of a part of the performance of the regulatory body to the Union.)
It is clear that UNIS ČR continues to be a very successful organisation associating investment companies and other collective investment undertakings. We intend to intensify our performance in these fields. On the other side, both external and internal conditions for the existence of the
Union have changed and we have to respond to such changes, preferably in advance. These facts are reflected in our targets for the next period resulting from the aforementioned defined objectives.
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D.1. UNIS ČR SHOULD BE A PLATFORM FOR ALL UNDERTAKINGS OPERATING IN THE COLLECTIVE
INVESTMENT INDUSTRY
On the basis of activities defined in UCITS directive III and changes occurring in FEFSI, UNIS should be the association encompassing all
activities defined in this directive, i. e. management of investment and mutual funds and management of clients' portfolio by free consideration.
D.2. TO ENFORCE A SATISFACTORY TAX REGIME OF FUNDS ESTABLISHED UNDER CZECH LEGISLATION
The effective zero tax or the zero approximating tax for domestic collective investment undertakings is of the highest priority. The tax rate for incomes
of funds was cut to 5 % this year and there is a certain possibility for a further decrease to 3 % from January 1, 2005.
D.3. TO CONTINUE IN ACTIVE INFLUENCING OF THE LEGISLATIVE ENVIRONMENT
New laws regulating the collective investment and the capital market came into effect on May 1, 2004. However, at the same time, work
on an amendment to these laws began. It should be a priority for the Union to further develop a whole range of investment instruments
and opportunities for both institutional and retail clients. The Union labour is to make the law amendment create such a level of the legislative environment that will facilitate an easy development of collective investments. Pension reform and the opportunity of funds to be
involved in the second or the third pension pillar seem to be very interesting and of key importance from the long term perspective. This
sphere is becoming attractive mainly after the recent developments in Slovakia and a good example can also be found in some South American
states (eg.Chile). In order to present a united view on pension reform, the Union initiated an activity in which the Association of Pension
Funds, the Association of Banks and the Association of Insurance companies should be involved.
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D.4. TO IMPROVE THE SELF-REGULATION OF MEMBERS AND AT THE SAME TIME, TO FOCUS ON PROTECTION
AGAINST OVER-REGULATION OF THE INDUSTRY
The experience of UNIS ČR and of individual members shows that in addition to the necessity of further improvement of the self-regulating
framework where our members operate, protection against implementation of unnecessary rules for collective investment is becoming more
and more relevant. The Union actively communicates with the Securities Commission and the participation in the preparation of the sub-law
regulations (decrees, methodology, etc.) should be increasing. The Union should also be involved in activities which will unify the extent of
regulation in the sector of competitive products (pension and life insurance).
D.5. TO FOCUS ITS ACTIVITIES IN THE SPHERE OF WORK WITH THE PUBLIC AND INVESTORS
The expert public, civil service bodies and the Parliament of the ČR remain the priorities of communication. Activities for the general public will be pursued in co-operation with third entities (training, speeches at conferences, educational articles in the press, etc.), primarily
with the Securities Commission. The English version of the new Union web sites will enable better communication with foreign partners
and those interested in the capital markets in the ČR.
D.6. TO CONTINUE CO-OPERATION WITH FOREIGN PARTNERS
Co-operation with FEFSI proved to be beneficial. This organisation also seeks its concept in relation to the world development of the industry and
its experience may be useful alongside other experience and information which we have already acquired through this co-operation.
These tasks represent the UNIS ČR key priorities for the next year.
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Prague, June 22, 2004
On behalf of the Board of Trustees of UNIS ČR:
RNDr. Petr Zapletal
Chairman of the Board of Trustees
REPORT ON ACTIVITY OF THE ETHICS COMMITTEE
OF UNIS ČR FOR THE PERIOD 2003 – 2004
In the period from the last General Assembly, held on June 10, 2003, the Ethics Committee undertook a minimum of submissions and complaints, none of them was found to be a serious breach of the Union Ethical rules. No sanction was applied. It is regarded by the Ethics Committee
as a very positive situation and a confirmation that UNIS ČR's attempt to create a transparent and trustworthy collective investment sector in the Czech Republic is being successfully pursued.
The Ethics Committee also dealt with a whole range of topics in relation to the activity of Union members. These concerned the fund classification, a change of UNIS ČR activities and its strategy, etc. The Ethics Committee also appealed for UNIS ČR to continue in the effort to
unify the regulation against other products, such as pension or life insurance.
Following the changes in the UNIS ČR strategy, the Ethics Committee started to pay more attention to, and to co-operate with, the whole
collective investment sector, i. e. mainly with regard to the foreign funds associated in AKAT ČR. This position was supported by signing the
Memorandum on co-operation between UNIS ČR and the Securities Commission (SC) leading to a possible participation of representatives
of the SC at meetings of the Ethics Committee. On the basis of this co-operation, a representative of the SC already participated at the meeting of the Ethics Committee where a Methodology of the Promotion of Certain Financial Services and its relation to the wording of the Binding
Instruction of UNIS ČR, with the aim of unifying the positions of both institutions, was discussed.
In 2004, the Ethics Committee will have to deal with the following key tasks resulting primarily from the new Law on collective investment,
its implementing decrees and the accession of the Czech Republic to the European Union:
a) change of the Code of Ethics and the Code of Good Conduct,
b) change of the Binding instructions,
c) issues related to the classification of funds and a subsequent change of the Methodology of fund classification (classification of domestic funds and classification of foreign funds operating in the CR - different classification by the fund domicile) – upcoming changes at the
FEFSI level,
d) preparation of new procedures for establishment and promotion of new special funds according to the Law on collective investment,
e) continuous co-operation with the SC on preparation of new regulatory and ethical rules,
f) possible definition of the ethical rules in the asset management (UCITS directive III).
Prague, June 21, 2004
Ing. Pavel Hoffman
Chairman of the Ethics Committee
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UNIS ČR BODIES
14
Board of Trustees
Ethics Committee
CHAIRMAN OF THE BOARD
CHAIRMAN
RNDr. Petr Zapletal
Chairman of the Board and Director
Pavel Hoffman
Investiční kapitálová společnost KB, a. s.
Vice-Chairman of the Board and Deputy Director
VICE-CHAIRMEN OF THE BOARD
VICE-CHAIRMEN
Jiří Brabec
Pavel Pršala
Jana Doucková
ČP INVEST investiční společnost, a. s.
Member of the Board
Vendulka Klučková
Member of the Board
MEMBERS OF THE BOARD
IN-HOUSE MEMBERS
Vít Vařeka
Pavel Bodlák
AMSLICO AIG Funds správcovská společnost, a. s.
Pavel Veselý
ČP Invest, investiční společnosti, a. s.
Josef Beneš
ČSOB investiční společnost, a. s.
Miloslav Zábojník
J&T Asset Management, investiční společnost a. s.
Roman Pospíšil
Martin Burda
Jana Procházková
J&T Asset Management, a. s.
The Board of Trustees of UNIS ČR approved by the General Assembly on June 26, 2004.
EXTERNAL MEMBERS
Martin Gardavský
Asociace registrovaných investičních zprostředkovatelů
Petra Wendelová
Erst & Young, s. r. o.
Miroslav Singer
PricewaterhouseCoopers Audit, s. r. o.
Helena Čacká
UNIVYC, a. s.
Constitution of the Ethics Committee after General Assembly held on June 26, 2004.
Other UNIS ČR Bodies
ACCOUNT CONTROLLERS
Jarmila Čermáková
Jana Dlouhá
J&T Asset Management, investiční společnost a. s.
Chairmen of Professional Commissions
LEGISLATIVE COMMISSION
František Tlustoš
FINANCIAL AND TAX COMMISSION
Jan Drápal
Full members
Management Company
Address
Na Poříčí 17, 110 00 Praha 1
E-mail
[email protected]
Website
www.akro.cz
Management Company
Address
E-mail
Website
Management Company
Address
AMSLICO AIG Funds správ. spol., a. s.
Hviezdoslavovo nám. 20, 811 02 Bratislava
[email protected]
www.aaf.sk
Náměstí hrdinů 4, 140 21 Praha 4
E-mail
[email protected]
Website
www.cp-invest.cz
Infoline
Management Company
Address
E-mail
844 111 121
Perlová 371/5, 110 00 Praha 1
[email protected]
Website
www.csob.cz
Infoline
800 100 030
Management Company
Address
Dlouhá 34, 110 15 Praha 1
E-mail
[email protected]
Website
www.iks-kb.cz
Infoline
800 111 166
15
Full members
Management Company
Address
Na Perštýně 342/1, 110 00 Praha 1
E-mail
[email protected]
Website
www.iscs.cz
Infoline
Management Company
800 207 207; 800 194 586
– reprezentant rodiny fondů ESPA (ERSTE Sparinvest)
Address
Na Perštýně 342/1, 110 00 Praha 1
E-mail
[email protected]
Website
www.iscs.cz
Infoline
Management Company
16
800 207 207; 800 194 586
J&T ASSET MANAGEMENT,
INVESTIČNÍ SPOLEČNOST, a. s.
Address
Pobřežní 14, 186 00 Praha 8
E-mail
[email protected]
Website
www.jtam.cz
Infoline
800 149 172
Management Company
Address
E-mail
Website
Infoline
Management Company
Address
E-mail
Website
Infoline
Pioneer česká finanční s. r. o.
Karolinská 650/1, 186 00 Praha 8
[email protected]
www.pioneerinvestments.cz
800 160 160
[email protected]
www.pioneerinvestments.cz
800 160 160
Full members
Management Company
Address
E-mail
Website
Infoline
[email protected]
www.zbtrust.cz
800 118 844
Associate members
Company
Advokátní kancelář
Balcar Polanský Norton Rose, v. o. s.
Address
E-mail
Website
Company
Elišky Peškové 735/15, 151 31 Praha 5
[email protected]
www.nortonrose.com
Advokátní kancelář
Vyroubal Krajhanzl Školout a spol.
Address
E-mail
Website
Company
Address
Lazarská 5, 110 00 Praha 1
[email protected]
www.akvks.cz
Asociace finančních poradců a zprostředkovatelů
Branická 43/26, 147 00 Praha 4
E-mail
[email protected]
Website
www.kfp.cz
17
Associate members
Company
Address
Rumunská 25, 120 00 Praha 2
E-mail
[email protected]
Website
www.arizcr.cz
Company
Address
E-mail
Website
Company
18
Asociace registrovaných investičních zprostředkovatelů
Address
E-mail
CRA RATING AGENCY, a. s.
Washingtonova 17, 110 00 Praha 1
[email protected]
www.crarating.cz
Česká kapitálová informační agentura, a. s.
Opletalova 5, 110 00 Praha 1
[email protected]
Website
www.cekia.cz, www.ipoint.cz
Company
Deloitte & Touche CR, s. r. o.
Address
E-mail
Týn 641/1, 110 00 Praha 1
[email protected]
Website
www.deloitteCE.com
Company
Ernst & Young, s. r. o.
Address
E-mail
Website
Karlovo náměstí 10, 120 00 Praha 2
[email protected]
www.ey.cz
Associate members
Company
Address
E-mail
Website
Company
Address
E-mail
Website
PricewaterhouseCoopers Audit, s. r. o.
Kateřinská 40/466, 120 00 Praha 2
[email protected]
www.pwcglobal.com/cz
RM-SYSTÉM, a. s.
Podvinný mlýn 6, 180 18 Praha 9
[email protected]
www.rmsystem.cz
Company
Středisko cenných papírů
Address
Rybná 14, 110 05 Praha 1
E-mail
scp_is@scp
Website
www.scp.cz
Company
UNIVYC, a. s.
Address
Rybná 14, 110 05 Praha 1
E-mail
[email protected]
Website
www.univyc.cz
Company
Address
E-mail
Website
Weinhold Andersen Legal v. o. s.
Husova 5, 110 00 Praha 1
[email protected]
www.andersenlegal.com
19
Partner
Company
Mgr. Andrea Cejnarová,
Advokátní kancelář Pokorný, Wagner a spol.
Address
E-mail
Website
20
Karolíny Světlé 301/8, 110 00 Praha 1
[email protected]
www.p-w.cz

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