Abstract
Legal regulations related to investment funds in the Republic of Serbia were reformed in 2019. In order to harmonize Serbian law with the European Union directives two new laws that regulate investment funds were enacted – one regulating open investment funds and the other alternative investment funds. This paper analyzes the current legal notion of the alternative investment fund, but the emphasis is placed on the two key elements of the said notion in a wider sense – the notion of the investment fund and the notion of the investor. The concepts are examined in the light of the above mentioned legislation, and the specific legal implications arising from them are described. In conclusion, the author proposes a lege ferenda solution with the ultimate objective of developing the market for alternative investment funds in the Republic of Serbia.
Published Version
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