Fund Distribution Alert 2024-19

Effective 1 January 2025, the annual supervisory fees for the cross-border marketing of units or shares of UCITS and AIFs in Croatia will be reduced, unless marketed through a branch, following an ordinance issued by the Croatian Financial Services Supervisory Agency (HANFA).

The new fees are as follows:

• UCITS
  Base Fee: EUR 1,500 per UCITS per year.
  Umbrella Funds: An additional EUR 390 for the second and each subsequent sub-fund.
  
  
• AIFs
  Base Fee: EUR 1,500 per AIF per year.
  Umbrella Funds: An additional EUR 390 for the second and each subsequent sub-fund.

Fees apply to all funds notified for cross-border marketing in Croatia, regardless of whether they have Croatian investors or not.

For funds already notified, the new fees will be charged starting 1 January 2025, with invoices and payment instructions provided by HANFA to fund managers.

For UCITS or AIFs whose units or shares are marketed in Croatia via a branch, the fees remain unchanged as follows:

• UCITS
  Base Fee: EUR 2,650 per UCITS per year.
  Umbrella Funds: An additional EUR 590 for the second and each subsequent sub-fund.
  
  
• AIFs
  Base Fee: EUR 2,650 per AIF per year.
  Umbrella Funds: An additional EUR 590 for the second and each subsequent sub-fund.

For further information, the full ordinance is available here (PDF, 0.9MB) (Croatian only).

Feel free to contact us should you require any additional information.

Partner
+352 22 51 51 7892
said.fihri@kpmg.lu

Senior Manager
+352 22 51 51 7417
henrik.olsson@kpmg.lu