
8 years of stable returns
Since inception, the master fund has consistently met its target yields, delivering predictable income and long-term appreciation for its shareholders.
Qualified investors
The fund is designed for experienced and accredited investors seeking access to a defensive European real estate strategy with long-term leased essential retail assets.
Resilient essential retail
The portfolio is anchored by grocery and value-oriented retailers, ensuring resilient footfall, steady demand and reliable rental income throughout economic cycles.
6 European markets
The fund invests in income-producing assets in the Czech Republic, Austria, Germany, Slovenia, Croatia and Slovakia, providing diversification across geographies, tenant sectors and economic environments.
About the Master Fund
structure
ZDR Investments SICAV is a regulated investment fund based in the Czech Republic. A SICAV is a flexible open-ended investment structure commonly used across Europe, operating similarly to mutual funds while allowing investors to benefit from professionally managed real estate portfolios.
Since its launch in 2017, the fund has built a highly diversified portfolio across 6 European markets, focusing on long-term leased essential retail properties. These assets are anchored by grocery chains, discounters and other everyday-needs retailers, providing resilient demand, stable footfall and predictable rental income.
Accredited investors in Singapore can participate in the performance of this European real estate portfolio through our feeder structure, ZDR Investments SG VCC, gaining access to a defensive asset class with a consistent track record of stable returns.
Master Fund performance
Returns of Class A
(CZK growth)7.84%
2018
8.23%
2019
8.16%
2020
8.38%
2021
9.49%
2022
8.71%
2023
8.15%
2024
8.10%
2025
Returns of Class C
(EUR growth)9.44%
2020
8.32%
2021
9.77%
2022
8.75%
2023
8.26%
2024
8.22%
2025
Annualized returns of Class A
(CZK growth)8.46%
Since inception (p.a.)
8.12%
2 years (p.a.)
8.32%
3 years (p.a.)
8.56%
5 years (p.a.)
Annualized returns of Class C
(EUR growth)8.23%
Since inception (p.a.)
7.24%
2 years (p.a.)
8.41%
3 years (p.a.)
8.66%
5 years (p.a.)
Historical price development of investment shares class A (CZK growth)
Historical price development of investment shares class B (CZK growth)
Historical price development of investment shares class C (EUR growth)
Historical price development of investment shares class D (EUR growth)
Key facts
Name
ZDR Investments SICAV a.s.
Sub-fund ZDR, Sub-Fund Real EstateLegal form
Company limited by shares with variable share capital
Share class currency
Investment shares
Fund currency
EUR
Share class
class A (growth CZK), class C (growth EUR), class S (growth EUR)
Valuation frequency
Value of the shares is determined monthly
Recommendation investment horizon
5 years and more
Targeted net return
7-9% per annum
Fund manager
ZDR Investments investiční společnost a.s.
Fund administrator
CODYA investiční společnost, a.s.
Custodian
Česká spořitelna, a.s. (part of Erste Group Bank)
Auditor
TPA Audit s.r.o.
Valuation of assets
Grant Thorton Appraisal services a.s.
Lock-up period
3 years from subscription of investment shares
Management fee
0.75% per annum
Performance fee
30% of fund’s capital appreciation exceeding 5% per annum
Target return
7 - 9% per year (after deducting management costs)
Mandatory information:
None of the investors has obtained any special advantage or the right to such an advantage. There are no provisions in the depositary agreement that would allow the transfer or further use of the fund’s assets by the depositary. Information on new measures adopted to manage discrepancies in the liquidity of the fund (in addition to those by which the fund normally manages liquidity, as stated in the statutes) is provided together with updates on a monthly basis.
The statement on the current non-use of leverage is included, along with any changes on a monthly basis.
Real estate portfolio
Fund documents
Investor materials
Financial statements of the Fund
Annual Report of ZDR Investments SICAV (Master fund) for the year 2023
Annual Report of ZDR Real Estate Sub-fund (Master fund's subfond) for the year 2023
Annual Report of ZDR Investments SICAV (Master fund) and its Sub-fund for the year 2022
Financial Statements Reconciliation according to IFRS 9 for the year 2022
Investment risk
The statutes of ZDR Investments SICAV a.s. and its sub-fund ZDR Real Estate include a list of risks associated with investing. In accordance with the rules applicable to collective investment schemes, it is important to note that past performance of the fund does not guarantee future results. Investments in investment shares issued by the ZDR Real Estate sub-fund involve the risk of fluctuations in the current value of the invested amount and the yields derived from it, and the return of the originally invested capital is not guaranteed.
Let your capital work for you in real estate across Europe
1
Leave us contact
2
We’ll get in touch and guide you through the steps
3
Start earning with your investment
We will contact you as soon as possible and together we will choose the best way to invest.

.avif)


.avif)
%2520(1).jpeg)




.avif)


%25201.avif)


.avif)




%2520(1).avif)
.avif)



















