About
The Euregio+ Turismo Fund is an Italian reserved real estate Alternative Investment Fund (AIF) established in closed-end form. The duration of the Fund is set at 16 (sixteen) years starting from the day following first closing. The objective of the fund is to improve the quality level of the region’s hotel offer in order to help close the “quality gap” with respect to competing Alpine areas. The purpose of the Fund is the collective investment of capital in real estate, real estate rights and/or stakes in real estate companies. The aim of the Fund is the collective investment of capital in real estate, real estate rights and/or stakes in real estate companies, as well as the professional management and development of the Fund itself, with the principal objective of periodically distributing the net management result generated by the return on investments while safeguarding the value of the Fund’s assets over time. The Fund is flexible in terms of its intervention methods, from the purchase of real estate to taking stakes in real estate companies and the use of innovative formulas linked to the right of usufruct and sale and leaseback operations.
The Italian reserved real estate AIF, established in closed-end form and named “Euregio+ Turismo” is managed by Euregio Plus SGR S.p.A. The fund is an Italian mutual investment fund that falls within the scope of Directive 2011/61/EU as a closed-end, reserved Italian AIF, as defined by article 1, paragraph 1, letter m-quater of Legislative Decree no. 58 of 24 February 1998 (the Testo Unico della Finanza [TUF or “Consolidated Finance Law”]).
The fund, in line with the competitive factors relating to the tourism sector in the Trentino-Alto Adige/Sudtirol Region, aims to improve the quality level of the region’s hotel offer in order to help close the “quality gap” with respect to competing Alpine areas. The purpose of the Fund is the collective investment of capital in real estate, real estate rights and/or stakes in real estate companies.
The purpose of the Fund is the collective investment of capital in real estate, real estate rights and/or stakes in real estate companies, as well as the professional management and enhancement of the Fund itself, with the principal objective of periodically distributing the net management result generated by the return on investments while safeguarding the value of the Fund’s assets over time. This objective is pursued via the consistent management of the portfolio over time to favour generational change in the regional system of tourist hospitality so as to avoid any impoverishment of the offer’s capacity as a consequence of a crisis in governance. The Fund’s investments will be made in real estate, real estate rights, real estate companies and hotel establishments located mainly in the Trentino Alto-Adige/Südtirol region.
However, investments in other European Union territories are also permitted up to a maximum value equal to 30% of the total value of the assets.
The Fund’s assets, subject to the limits and conditions provided for by the current laws and regulations in force, are invested (whereby the proportion will be no lower than 2/3 (two thirds) of the total value of the Fund’s assets) in real estate assets, real estate rights – including those deriving from real estate leasing contracts of a transferable nature and from concessionary relationships – and stakes in real estate companies that will permit the Fund’s objective to be realised (the “Typical Investment”). The Fund may also invest in other real estate assets, both public and private, including in passive leases to public administrations, development concessions and other such types that are however of a complementary and functional nature (including in terms of the sustainability of the financial and income flows) so as to achieve the Fund’s purpose.
Type of investor
The purchase, for any reason, of Units of the Euregio+ Tourism Fund is reserved to Professional Investors and, subject to acceptance by the SGR, investors who are neither Professional Investors nor natural persons that, pursuant to art. 14, para. 2 of Ministerial Decree no. 30 of 5 March 2015, request the SGR to subscribe or purchase Units for a total not less than that set out by the applicable legislation at the time in question.