fondihaldus

Fondihaldus is the professional management and administration of investment funds on behalf of investors. It encompasses decision-making about which assets to buy or sell, setting investment strategy, risk management, and the day-to-day administration necessary for a fund to operate in accordance with its prospectus and regulatory rules.

Key activities include asset allocation and security selection, ongoing monitoring and rebalancing, valuation of assets and calculation of the fund’s net asset value (NAV), fund accounting, and investor reporting. Administrative tasks cover regulatory compliance, fee calculation, distribution, and communications with investors. Risk management helps control market, credit, liquidity, and operational risks; liquidity management ensures the fund can meet redemption requests.

Typical actors: a fund management company (fondihaldusettevõte) or asset manager makes investment decisions; a separate fund administrator handles accounting and NAV calculations; a custodian bank safekeeps fund assets; auditors provide annual assurance; regulators supervise activities to ensure investor protection and market integrity.

Regulatory framework: in the European Union, investment funds are governed by directives such as UCITS and AIFMD, with implementation and supervision in Estonia by the Financial Supervisory Authority (Finantsinspektsioon). Funds must provide transparent reporting, comply with risk limits, and adhere to prospectuses and key investor information.

Outcome: fondihaldus aims to deliver professional, compliant management of funds, providing diversification, liquidity, and transparency for investors, while balancing costs and risk.