{"id":119223,"date":"2026-06-16T06:11:13","date_gmt":"2026-06-16T06:11:13","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/119223\/"},"modified":"2026-06-16T06:11:13","modified_gmt":"2026-06-16T06:11:13","slug":"fond-z-okruhu-pitra-a-janouska-pujcil-spravci-ktery-ho-mel-hlidat","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/119223\/","title":{"rendered":"Fond z\u00a0okruhu Pitra a\u00a0Janou\u0161ka p\u016fj\u010dil spr\u00e1vci, kter\u00fd ho m\u011bl hl\u00eddat"},"content":{"rendered":"

V\u00fdnosov\u00fd otev\u0159en\u00fd pod\u00edlov\u00fd fond s\u00a0majetkem p\u0159evy\u0161uj\u00edc\u00edm t\u0159i miliardy korun historicky zve\u0159ejnil jedinou v\u00fdro\u010dn\u00ed zpr\u00e1vu. Ta mimo jin\u00e9 uk\u00e1zala, \u017ee fond poskytl \u00fav\u011br skoro 62\u00a0milion\u016f korun Avant investi\u010dn\u00ed spole\u010dnosti. Tedy stejn\u00e9 firm\u011b, kter\u00e1 v\u00a0t\u00e9 dob\u011b fond spravovala a\u00a0m\u011bla dohl\u00ed\u017eet na jeho transakce, v\u010detn\u011b hl\u00edd\u00e1n\u00ed st\u0159etu z\u00e1jm\u016f. Do portfolia fondu pat\u0159\u00ed p\u0159ev\u00e1\u017en\u011b nemovitostn\u00ed firmy, od nich\u017e vede \u0159ada stop k\u00a0vlivn\u00fdm z\u00e1kulisn\u00edm hr\u00e1\u010d\u016fm Tom\u00e1\u0161i Pitrovi a\u00a0Romanu Janou\u0161kovi<\/a>.<\/p>\n

V\u00fdro\u010dn\u00ed zpr\u00e1vy V\u00fdnosov\u00e9ho otev\u0159en\u00e9ho pod\u00edlov\u00e9ho fondu nejsou ve\u0159ejn\u011b dostupn\u00e9. Jedinou v\u00fdro\u010dn\u00ed zpr\u00e1vu zve\u0159ejnila v\u00a0minulosti Avant investi\u010dn\u00ed spole\u010dnost, a\u00a0to za rok 2023.\u00a0Ani tato zpr\u00e1va u\u017e ale na webu Avantu nen\u00ed. Avant podle sv\u00e9ho vyj\u00e1d\u0159en\u00ed pln\u00ed informa\u010dn\u00ed povinnost t\u00edm, \u017ee pos\u00edl\u00e1 v\u00fdro\u010dn\u00ed zpr\u00e1vy fondu \u010cesk\u00e9 n\u00e1rodn\u00ed bance. Redakce si v\u00fdro\u010dn\u00ed zpr\u00e1vu st\u00e1hla na za\u010d\u00e1tku leto\u0161n\u00edho roku, kdy byla je\u0161t\u011b p\u0159\u00edstupn\u00e1 na webu Avantu.<\/p>\n

Pr\u00e1v\u011b tato v\u00fdro\u010dn\u00ed zpr\u00e1va obsahuje v\u00a0p\u0159ehledu rizik na jedin\u00e9m \u0159\u00e1dku informaci, \u017ee fond poskytl \u00fav\u011br ve v\u00fd\u0161i t\u00e9m\u011b\u0159 61,9\u00a0milionu korun Avant investi\u010dn\u00ed spole\u010dnosti<\/a>. Kapit\u00e1l fondu po ode\u010dten\u00ed v\u0161ech z\u00e1vazk\u016f byl podle stejn\u00e9 v\u00fdro\u010dn\u00ed zpr\u00e1vy\u00a0celkem 2,8\u00a0miliardy korun. Ve ve\u0159ejn\u00fdch zdroj\u00edch nelze dohledat, kdo jsou zakladatel\u00e9 fondu. Investo\u0159i fond\u016f jsou ze z\u00e1kona neve\u0159ejn\u00ed.<\/p>\n

Rozd\u011blen\u00e1 kontrola<\/p>\n

Avant s\u00a0odkazem na ml\u010denlivost transakci s\u00a0fondem nekomentoval. Investi\u010dn\u00ed spole\u010dnost k\u00a0tomu poskytla jen obecn\u00e9 vyj\u00e1d\u0159en\u00ed.<\/p>\n

\u201ePokud investi\u010dn\u00ed fond poskytuje ze sv\u00e9ho majetku \u00fav\u011br, mus\u00ed tak \u010dinit v\u00a0souladu se svou investi\u010dn\u00ed strategi\u00ed a\u00a0limity stanoven\u00fdmi ve statutu fondu, a\u00a0to v\u00fdhradn\u011b na z\u00e1klad\u011b p\u0159edchoz\u00ed anal\u00fdzy ekonomick\u00e9 v\u00fdhodnosti dan\u00e9 transakce, v\u010detn\u011b posouzen\u00ed p\u0159\u00edpadn\u00e9ho st\u0159etu z\u00e1jm\u016f,\u201c uvedl ve vyj\u00e1d\u0159en\u00ed pro Seznam Zpr\u00e1vy Byznys m\u00edstop\u0159edseda p\u0159edstavenstva Avant investi\u010dn\u00ed spole\u010dnosti Petr Kr\u00e1tk\u00fd.<\/p>\n

\u201eZa p\u0159\u00edpravu anal\u00fdzy p\u0159ed realizac\u00ed transakce, v\u010detn\u011b vyhodnocen\u00ed souvisej\u00edc\u00edch rizik, odpov\u00edd\u00e1 obhospoda\u0159ovatel investi\u010dn\u00edho fondu, za \u0159\u00e1dn\u00e9 zanesen\u00ed transakce do \u00fa\u010detn\u00edch v\u00fdkaz\u016f fondu pak jeho administr\u00e1tor. Jednotliv\u00e9 transakce s\u00a0majetkem fondu, v\u010detn\u011b dodr\u017eov\u00e1n\u00ed statutu a\u00a0posouzen\u00ed jejich v\u00fdhodnosti pro akcion\u00e1\u0159e \u010di pod\u00edln\u00edky, n\u00e1sledn\u011b kontroluje depozit\u00e1\u0159 fondu,\u201c doplnil Kr\u00e1tk\u00fd z\u00a0Avantu.<\/p>\n

<\/a><\/p>\n

Pr\u00e1v\u011b Petr Kr\u00e1tk\u00fd je za Avant podepsan\u00fd pod v\u00fdro\u010dn\u00ed zpr\u00e1vou fondu za rok 2023.\u00a0Avant v\u00a0t\u00e9 dob\u011b zast\u00e1val dvojjedinou roli obhospoda\u0159ovatele a\u00a0administr\u00e1tora fondu. Avant byl tedy na jedn\u00e9 stran\u011b p\u0159\u00edjemcem \u00fav\u011bru od fondu a\u00a0sou\u010dasn\u011b posuzoval, zda je tato transakce pro fond v\u00fdhodn\u00e1. Stejn\u011b tak se Avant musel zab\u00fdvat ot\u00e1zkou, zda poskytnut\u00ed \u00fav\u011bru je, \u010di nen\u00ed st\u0159etem z\u00e1jm\u016f.\u00a0A\u00a0byl to rovn\u011b\u017e Avant, kdo m\u011bl odpov\u011bdnost za \u0159\u00e1dn\u00e9 zanesen\u00ed transakce do \u00fa\u010detn\u00edch v\u00fdkaz\u016f fondu.<\/p>\n

Ve v\u00fdro\u010dn\u00ed zpr\u00e1v\u011b za rok 2023, kter\u00e1 byla jedin\u00e1 ve\u0159ejnosti dostupn\u00e1, je ale uvedeno, \u017ee fond v\u00a0tomto obdob\u00ed \u017e\u00e1dn\u00e9 transakce se sp\u0159\u00edzn\u011bn\u00fdmi osobami neevidoval. Mezi sp\u0159\u00edzn\u011bn\u00e9 osoby coby obhospoda\u0159ovatel pat\u0159ila i\u00a0Avant investi\u010dn\u00ed spole\u010dnost.<\/p>\n

\u201ePokud v\u00fdro\u010dn\u00ed finan\u010dn\u00ed zpr\u00e1va investi\u010dn\u00edho fondu uv\u00e1d\u00ed sp\u0159\u00edzn\u011bn\u00e9 osoby a\u00a0popisuje vztahy s\u00a0nimi, a\u00a0sou\u010dasn\u011b sd\u011bluje, \u017ee neeviduje transakce se sp\u0159\u00edzn\u011bn\u00fdmi osobami, pak je z\u0159ejm\u00e9, \u017ee popisovan\u00e9 vztahy nevznikly v\u00a0\u00fa\u010detn\u00edm obdob\u00ed, za n\u011bj\u017e se p\u0159edm\u011btn\u00e1 zpr\u00e1va vyhotovuje,\u201c sd\u011blil Petr Kr\u00e1tk\u00fd z\u00a0veden\u00ed Avantu.<\/p>\n

<\/a><\/p>\n

Ot\u00e1zky vzbuzuje rovn\u011b\u017e fakt, \u017ee v\u00fdro\u010dn\u00ed zpr\u00e1va Avant investi\u010dn\u00ed spole\u010dnosti za rok 2023\u00a0\u017e\u00e1dnou informaci o\u00a0\u00fav\u011bru od V\u00fdnosov\u00e9ho otev\u0159en\u00e9ho pod\u00edlov\u00e9ho fondu neobsahuje. Nen\u00ed tedy z\u0159ejm\u00e9, zda kone\u010dn\u00fdm p\u0159\u00edjemcem \u00fav\u011bru od fondu byl skute\u010dn\u011b jeho spr\u00e1vce, nebo jin\u00fd fond, kter\u00fd Avant obhospoda\u0159uje. Avant nechal ot\u00e1zku bez odpov\u011bdi.<\/p>\n

Kdy\u017e se transakce mezi V\u00fdnosov\u00fdm otev\u0159en\u00fdm pod\u00edlov\u00fdm fondem a\u00a0Avantem uskute\u010dnila, pat\u0159il mezi spolumajitele Avantu je\u0161t\u011b Pavel Dole\u017eal. P\u0159edn\u00ed odborn\u00edk na tuzemsk\u00fd fondov\u00fd byznys loni z\u00a0Avantu definitivn\u011b ode\u0161el a\u00a0zalo\u017eil si novou Family Ace investi\u010dn\u00ed spole\u010dnost. Pr\u00e1v\u011b tato firma se stala nov\u00fdm obhospoda\u0159ovatelem V\u00fdnosov\u00e9ho otev\u0159en\u00e9ho pod\u00edlov\u00e9ho fondu. Avant z\u016fstal administr\u00e1torem fondu. Je zodpov\u011bdn\u00fd nap\u0159\u00edklad za identifikaci osob, kter\u00e9 maj\u00ed ve fondu kapit\u00e1l.<\/p>\n

Dole\u017eal pro Seznam Zpr\u00e1vy Byznys na za\u010d\u00e1tku leto\u0161n\u00edho roku obecn\u011b uvedl, \u017ee investi\u010dn\u00ed fondy maj\u00ed nap\u0159\u00edklad ve srovn\u00e1n\u00ed s\u00a0vydavateli mal\u00fdch dluhopisov\u00fdch emis\u00ed propracovan\u00fd syst\u00e9m, jak zabr\u00e1nit st\u0159etu z\u00e1jm\u016f.<\/p>\n

\u201eM\u00e1te depozit\u00e1\u0159e, kter\u00fd kontroluje ka\u017edou korunu. Nejen pen\u011b\u017en\u00ed toky, ale i\u00a0oce\u0148ov\u00e1n\u00ed majetku,\u201c \u0159ekl obecn\u011b Pavel Dole\u017eal z\u00a0Family Ace investi\u010dn\u00ed spole\u010dnosti.<\/p>\n

Depozit\u00e1\u0159em fondu je spole\u010dnost Cyrrus. Tak\u00e9 Cyrrus se ohledn\u011b komentov\u00e1n\u00ed konkr\u00e9tn\u00edho p\u0159\u00edpadu odvolal na z\u00e1konnou ml\u010denlivost.<\/p>\n

<\/a><\/p>\n

\u201eDepozit\u00e1\u0159 nevykon\u00e1v\u00e1 komplexn\u00ed dohled nad \u0159\u00edzen\u00edm investi\u010dn\u00ed spole\u010dnosti. Tyto kontroln\u00ed mechanismy, zahrnuj\u00edc\u00ed compliance (soubor pravidel zaji\u0161\u0165uj\u00edc\u00ed, \u017ee firma a\u00a0jej\u00ed zam\u011bstnanci dodr\u017euj\u00ed z\u00e1kony a\u00a0dal\u0161\u00ed p\u0159edpisy, pozn. red.), intern\u00ed audit a\u00a0\u0159\u00edzen\u00ed rizik, jsou prim\u00e1rn\u00ed sou\u010d\u00e1st\u00ed syst\u00e9mu vnit\u0159n\u00ed kontroly obhospoda\u0159ovatele. V\u00fdhradn\u00ed odpov\u011bdnost za obhospoda\u0159ov\u00e1n\u00ed majetku fondu, investi\u010dn\u00ed rozhodov\u00e1n\u00ed, veden\u00ed \u00fa\u010detnictv\u00ed, sestaven\u00ed \u00fa\u010detn\u00edch z\u00e1v\u011brek a\u00a0pln\u011bn\u00ed informa\u010dn\u00edch povinnost\u00ed nese obhospoda\u0159ovatel\/administr\u00e1tor, p\u0159\u00edpadn\u011b dal\u0161\u00ed entity ur\u010den\u00e9 pr\u00e1vn\u00edmi p\u0159edpisy,\u201c sd\u011blil obecn\u011b Cyrrus.<\/p>\n

Zat\u00edmco tedy podle Avantu \u201ejednotliv\u00e9 transakce s\u00a0majetkem fondu, v\u010detn\u011b dodr\u017eov\u00e1n\u00ed statutu a\u00a0posouzen\u00ed jejich v\u00fdhodnosti pro akcion\u00e1\u0159e \u010di pod\u00edln\u00edky, n\u00e1sledn\u011b kontroluje depozit\u00e1\u0159 fondu\u201c, tak podle depozit\u00e1\u0159e Cyrrus nese naopak v\u00fdhradn\u00ed odpov\u011bdnost za spr\u00e1vu majetku, investi\u010dn\u00ed rozhodov\u00e1n\u00ed a\u00a0pln\u011bn\u00ed dal\u0161\u00edch povinnost\u00ed obhospoda\u0159ovatel a\u00a0administr\u00e1tor.<\/p>\n

Omezen\u00ed depozit\u00e1\u0159e<\/p>\n

Podle v\u00fdkladu \u010cesk\u00e9 n\u00e1rodn\u00ed banky coby regul\u00e1tora trhu prov\u00e1d\u00ed depozit\u00e1\u0159 fondu kontrolu p\u0159\u00edkaz\u016f spr\u00e1vce zpravidla po jejich proveden\u00ed. Kontroluje, zda byly p\u0159\u00edkazy obhospoda\u0159ovatele v\u00a0souladu s\u00a0pravidly fondu a\u00a0depozit\u00e1\u0159skou smlouvou. Spr\u00e1vce naopak mus\u00ed posoudit v\u00fdhodnost transakc\u00ed je\u0161t\u011b p\u0159ed jejich uskute\u010dn\u011bn\u00edm. <\/p>\n

V p\u0159\u00edpad\u011b V\u00fdnosov\u00e9ho otev\u0159en\u00e9ho pod\u00edlov\u00e9ho fondu je v\u0161ak rozsah depozit\u00e1\u0159sk\u00e9 kontroly podle v\u00fdro\u010dn\u00ed zpr\u00e1vy smluvn\u011b omezen\u00fd. Z\u00a0dohledu depozit\u00e1\u0159e jsou vylou\u010deny p\u0159\u00edkazy k\u00a0nabyt\u00ed nebo prodeji majetku fondu. Tuto kontrolu podle v\u00fdro\u010dn\u00ed zpr\u00e1vy fondu zaji\u0161\u0165uje intern\u011b p\u0159\u00edmo Avant. Tedy stejn\u00e1 spole\u010dnost, kter\u00e1 byla z\u00e1rove\u0148 p\u0159\u00edjemcem \u00fav\u011bru a\u00a0posuzovala jeho v\u00fdhodnost a\u00a0st\u0159et z\u00e1jm\u016f je\u0161t\u011b p\u0159edt\u00edm, ne\u017e p\u016fj\u010dku dostala.<\/p>\n

Podle m\u00edstop\u0159edsedy p\u0159edstavenstva Avant investi\u010dn\u00ed spole\u010dnosti Kr\u00e1tk\u00e9ho by jakoukoliv nesrovnalost mezi \u00fa\u010detnictv\u00edm fondu a\u00a0skute\u010dn\u00fdm stavem musel zachytit auditor. T\u00edm byla v\u00a0p\u0159\u00edpad\u011b V\u00fdnosov\u00e9ho otev\u0159en\u00e9ho pod\u00edlov\u00e9ho fondu spole\u010dnost PKF Apogeo, konkr\u00e9tn\u011b jej\u00ed partner pro audit Jarom\u00edr Chaloupka.<\/p>\n

<\/a><\/p>\n

\u201eM\u016f\u017eeme konstatovat, \u017ee audit fondu V\u00fdnosov\u00fd otev\u0159en\u00fd pod\u00edlov\u00fd fond k\u00a031.\u00a012.\u00a02023\u00a0byl proveden, stejn\u011b jako ostatn\u00ed audity \u00fa\u010detn\u00edch z\u00e1v\u011brek, v\u00a0souladu s\u00a0mezin\u00e1rodn\u00edmi auditorsk\u00fdmi standardy ISA a\u00a0\u010deskou legislativou,\u201c reagovala \u0161\u00e9fka marketingu PKF Apogeo Lucie N\u011bme\u010dkov\u00e1.<\/p>\n

Podle \u010cesk\u00e9 n\u00e1rodn\u00ed banky mohou fondy sv\u00e9mu spr\u00e1vci poskytnout \u00fav\u011br, ov\u0161em za spln\u011bn\u00ed povinnost\u00ed p\u00e9\u010de \u0159\u00e1dn\u00e9ho hospod\u00e1\u0159e.<\/p>\n

\u201eObecn\u011b plat\u00ed, \u017ee p\u0159i uzav\u00edr\u00e1n\u00ed obchod\u016f v\u0161ak obhospoda\u0159ovatel fondu mus\u00ed dodr\u017eovat \u0159adu povinnost\u00ed, jako jednat v\u00a0nejlep\u0161\u00edm z\u00e1jmu pod\u00edln\u00edk\u016f, spole\u010dn\u00edk\u016f a\u00a0obmy\u0161len\u00fdch tohoto fondu, prov\u00e1d\u011bt obchody za nejlep\u0161\u00edch podm\u00ednek, na z\u00e1klad\u011b anal\u00fdzy ekonomick\u00e9 v\u00fdhodnosti, a\u00a0je povinen p\u0159itom \u0159\u00eddit st\u0159ety z\u00e1jm\u016f, je\u017e je tak\u00e9 povinen oznamovat pod\u00edln\u00edk\u016fm, spole\u010dn\u00edk\u016fm nebo obmy\u0161len\u00fdm tohoto fondu,\u201c popsal Jaroslav Krej\u010d\u00ed z\u00a0odboru komunikace \u010cNB.<\/p>\n

Paradoxn\u011b jen rok pot\u00e9, co se objevila informace o\u00a0\u00fav\u011bru V\u00fdnosov\u00e9ho otev\u0159en\u00e9ho pod\u00edlov\u00e9ho fondu Avantu, nov\u00e1 evropsk\u00e1 sm\u011brnice tento typ transakc\u00ed mezi fondy a\u00a0jejich spr\u00e1vci zak\u00e1zala. Do \u010desk\u00e9ho pr\u00e1va se ale zat\u00edm nov\u00e9 unijn\u00ed na\u0159\u00edzen\u00ed neprom\u00edtlo.<\/p>\n","protected":false},"excerpt":{"rendered":"V\u00fdnosov\u00fd otev\u0159en\u00fd pod\u00edlov\u00fd fond s\u00a0majetkem p\u0159evy\u0161uj\u00edc\u00edm t\u0159i miliardy korun historicky zve\u0159ejnil jedinou v\u00fdro\u010dn\u00ed zpr\u00e1vu. Ta mimo jin\u00e9 uk\u00e1zala,…\n","protected":false},"author":2,"featured_media":119224,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[10044,67,68,2277,3888,33426,5662,32311],"class_list":["post-119223","post","type-post","status-publish","format-standard","has-post-thumbnail","category-byznys","tag-avant-investicni-spolecnost","tag-business","tag-byznys","tag-cyrrus","tag-investicni-fondy","tag-pkf-apogeo-group","tag-uver","tag-vynosovy-otevreny-podilovy-fond"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116758307472228774","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/119223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=119223"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/119223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/119224"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=119223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=119223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=119223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}