ICU together with Ulis creates real estate investment fund Ulis.Vorokhta for UAH 200 mln

ICU investment group together with Ulis company are creating real estate investment fund Ulis.Vorokhta with a declared volume of UAH 200 million, focused on tourist real estate.

"This is a response to the growing demand for this type of real estate within the country, but due to the high entry threshold, it was inaccessible to the majority," the director of asset management of ICU investment group in Ukraine, Hryhoriy Ovcharenko, told the Interfax-Ukraine agency.

According to him, the fund is being created in conditions of a limited choice of investment instruments, but high demand from the population.

As Ovcharenko specified, the fund's investor, having invested from UAH 125,000, automatically becomes a co-owner of the hotel complex Ulis.Vorokhta.

He added that the expected return is 10% per annum in US dollars under a conservative scenario of hotel capitalization, and the main part of the income is quarterly dividends, which are transferred to the investor after taxes.

By a decision of May 9, the National Securities and Stock Market Commission (NSSMC) approved the prospectus and issue of investment certificates in the amount of UAH 200 million by Ulis.Vorokhta investment fund of AMC Investment Capital Ukraine LLC, which is part of ICU Investment Group.

The ICU Group is an independent financial group that provides brokerage services, asset management services and private equity. The company is also engaged in venture and fintech investments. The geography of ICU's interests is developing markets around the world. It manages assets in the amount of over $500 million, and the client investment portfolio is UAH 23.8 billion.

ICU co-owners are Makar Paseniuk and Kostiantyn Stetsenko.