Material Amendments to the Rules and Prospectus of Avaron Emerging Europe Fund
On December 1st, 2025, the Estonian Financial Supervision Authority approved material amendments to the rules and prospectus of Avaron Emerging Europe Fund. The changes will take effect on January 15th, 2026.
Clarifying changes will be made to the Fund’s investment principles. To make the Fund’s core investment directions more transparent, the range of instruments permitted under the investment policy will be narrowed. The minimum requirement of equity investments will be raised from 60% to 80%. The use of derivative instruments will be permitted solely for hedging purposes. The Fund will be allowed to use a credit line of up to 10% of the Fund’s net asset value.
Transactions with fund units. Avaron will introduce a minimum initial investment (i.e. entry into the Fund) requirement of EUR 100 for the subscription of D unit class. The list of special measures that the management company may apply in the interest of the Fund and other unitholders in the event of large-scale redemptions will be supplemented.
Fund Name. To better distinguish the Fund’s name, the Estonian name of the fund will change to Avaron Areneva Euroopa Aktsiafond. The English name of the fund will remain the same.
The structure and wording of the Fund’s documents will be aligned with the terms and prospectuses of other Avaron funds. The updated list of fund-related fees can be found in section 6 Fees and Expenses of the Fund of the terms. In addition, editorial adjustments and other minor updates will be made to improve readability.
The updated fund documents, effective from 15 January 2026, are available here.
Published 02.12.2025
