Thank you very much Thomas! will check out the list!
Hi Thomas,
The site, the community and your own posts continue to be so helpful! Thank you! We have followed up with the contacts you provided us for the open funds. Lately you mentioned BPI Portugal - Fundo de Investimento Aberto de Ações. We are interested in it. Would you have a contact? Would be most appreciated. Thanks!
Hi. Did you come to a conclusion?
Hi. Not yet. Still doing the paperwork for opening a Bison bank account. Very slow progress.
I can’t find a contact for BPI Portugal - my lawyer doesn’t know anyone at that fund. Thomas pointed me to contacts for the other 3 on his list, but not for BPI. @tkrunning
I will post our investment decisions when we make them.
BPI is not available for US Investors as it is not FACTA compliant. Secondly, you will only be able to invest in BPI if you have an account with BPI bank, you will not be able to subscribe through your Bison account. Happy to go into more detail - did some digging on this recently.
Thank you. This is very helpful. I think I will hold off on BPI instead of having to open a second bank account.
Welcome 
Who else did you speak to?
You can use the link to IMGA you have there and request more information. Thomas will send you the name of a person to contact.
Just to check, in your recent digging, did they confirm again they were still not FATCA compliant?
Yes can confirm they are still not FACTA compliant. Also, even if you are not from the US and want access, you need to open a bank account with Banco BPI to subscribe - a Bison bank account will not gave access to the fund. I honestly think this poor access is possibly the driver behind IMGA Portugal having a much larger (5x) AUM.
Yes. Although I’ll note that (at least in 2021), it was almost absurdly easy to open an account and subscribe. Everything under one roof, so quite seamless. It took about a week from first contact to funds invested. (I gather account opening generally in Portugal has become more painful since.) And since you have the BPI fund, the commercial bank side charges peanuts to maintain the account. All-in, if you’re not a US person, I highly recommend BPI Portugal - straightforward, fees are lower, performance better.
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I was wondering if folks had any experience with the Portugal liquid opportunities fund and the fund manager. The subscription fee is 2%, which I think is a bit high.
Looks like a decent option. Fund Manager is Oxy, who have a really good track record since 2012. Think the fund only launched this year, so track record within this specific fund is short. They aim to do 10% net a year, which they say they are doing this year- equities have bounced globally in 2024 though. Nice diversification with circa 40% outside of PT.
Agree 2% subscription fee is high - I guess this is used for on-boarding / Kyc purposes, something that the other open-ended funds do not have to do. However, Management Fee is quite low (1.2%) vs the other open-ended funds
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Hi Remo, I am a GV investor (Indian passport, long-term residence in Dubai), in advanced/final discussions with ValorGreen for PEEIF2. Just last week I completed my due diligence by personally visiting their office in Porto and meeting with their team. I also negotiated a put option with them allowing me to exit the investment and secure a guaranteed rate of return. I have concluded multiple meetings, negotiations and structuring discussions with them since May 2024. They told me that even institutional investors do not do so much due diligence. If you need any assistance, please feel free to ask me, I will be happy to help you and answer questions.
Hi Ryan, Indian Passport holder as well. How did you set up the Put option? also what kind of return are you looking at? Do you mind sharing the details?
I think this will be a longer discussion. Better to set up an online meeting and will be happy to share details.
Hi everyone, just retained my lawyer and doing some diligence on investments. Of the four funds the lawyer mentioned to me, I found mention of two:
- Optimize fund - see plenty of mentions about this one
- Quadrantis fund - mentioned just a few posts above wrt PEEIF2
and two that I could not find searching:
3. Portugal Panorama fund
4. Horizont fund by Octanova
I’ll be reaching out to the contacts he provided, but was wondering if I somehow missed mention of any of these or if they are instantly ruled out for some reason?
Since my US investments are heavily index fund based, I wouldn’t mind a bit of a hedge against those…
@rpgazder I would love to talk to you about the PEEIF2 fund stuff.
Sure, happy to help. Do you want to set up a zoom or something?