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SALUTEM FUND SICAV, a.s. was formally established on April 2, 2020, by its founders Jaroslav Ton and Petr Jiříček, who leveraged their more than twenty years of experience in the real estate market. Thanks to their long-term expertise and that of their team, the fund regularly achieves growing results in this area of business. The establishment of their own real estate investment fund was therefore an organic outcome of their long-term, successful real estate investment activities.

Our investment strategy centers on regional residential and commercial properties, carefully evaluating location-specific market dynamics to optimize property and rental income opportunities.

The selection of properties for the portfolio is carried out by our analytical team headed by the fund’s co-founder Jaroslav Ton. The property selection process is as follows:

• We primarily target regions outside large cities because we can achieve higher returns there. We have a network of collaborating entities in these regions that provide us with tips on interesting investment opportunities.
• Thanks to our team’s experience across the Czech Republic, we can evaluate a large number of opportunities monthly and select those with the highest return potential. From this pool of opportunities, we choose both residential and commercial properties where we see synergies with our other business activities.
• The next step is to assess the investment. An economic viability analysis is prepared for each investment project, the investment is further assessed by the investment committee and the final decision is made by the statutory director.
• Last but not least, we also finance real estate with bank capital, so transactions are assessed by the strict risk management of banking institutions.

The investment process involves multiple rounds and evaluators, including the strictest ones—our fund’s founders themselves—since the returns for PIA investors are secured by their own capital (see the explanation of the guarantee through the redistribution of fund capital).

We leverage a robust internal team exceeding 60 professionals, strategically deployed across the Czech Republic to provide specialized real estate management and comprehensive technical expertise.

The PIA Fund provides a stable return of 6.3%–7% p.a. to investors in investment shares, even in the event of a lower profit or even a loss of the fund. The guarantee is in the form of a redistribution of the fund capital from the holders of the VIA Performance Investment Shares (who are the founders) to the holders of the Preferred Investment Shares (who are you, the outside investors), up to the amount of the fund capital attributable to the Performance Investment Shares. In practice, this means that we cover your appreciation with our own capital; we will be happy to explain the details to you.

Investment appreciation mechanism:

• If the Fund’s asset appreciation on a given date is greater than or equal to 6.3%, the PIA investor is entitled to a return of 6.3–7.0%.
• If the appreciation of the fund’s assets on a given date is less than 6.3%, the PIA investor is entitled to a return of 6.3–7.0%, in which case the difference is made up from the funds invested by the fund owner (the VIA).
• Model example: in the case of an investment of CZK 2,000,000, we guarantee the investor, in the form of the abovementioned redistribution of the fund capital, a minimum appreciation of CZK 402,314 after 3 years.

The guarantee of a minimum return on the Fund’s preferred investment shares has also been assessed by the renowned consulting firm Ernst & Young, whose opinion can be found on our website.

The fund is managed by TILLER investiční společnost a.s.

• ID: 086 08 733, a company with CZK 15 billion in assets, more at www.tillerfunds.cz.
• Our activities are supervised by the Czech National Bank, which requires regular reports on our performance.
• The depositary of the Fund is Československá obchodní banka, a. s., which continuously controls the handling of the Fund’s assets; the purposefulness of each item in the Fund’s account must be documented to the depositary.
• The fund’s auditor, who checks the accounting and compliance with the rules of asset management, is the renowned company AUDIT ONE s.r.o.
• The administrator is Versute Investment Company, a.s.
• Our Prague Stock Exchange listing in 2021 enhanced fund governance, compelling us to adopt IFRS accounting and implement rigorous reporting requirements, including comprehensive semi-annual and audited annual disclosures.

Our fund offers investors seamless property diversification across the Czech Republic, managing dozens of carefully selected properties, avoiding the operational challenges of individual apartment rentals through our professional management approach.

Our portfolio intentionally combines stable, long-term income properties with liquid assets, ensuring we can effectively manage investor redemptions across different withdrawal scales while preserving overall investment performance. For more information, please contact us on +420 778 112 978 or by email info@salutemfund.cz.

Liquid assets are mainly:

• Smaller residential properties that we can acquire very profitably (like all our assets). We then renovate or just revitalize them and basically offer them for sale right away.
• Loans made to vetted business partners that are repayable on demand.
• Short-term investments with a maximum maturity of six months in a financial institution providing operating finance to transport companies.