Heed Top Investment Fund

The minimum investment for each investor is €100,000. The fund's performance depends on its underlying assets and market conditions; there is no guaranteed return.

It invests at least 60% of its portfolio in Portuguese commercial companies and holds no direct or indirect residential real estate. This meets the criteria set out in the post-2023 legislation.

Yes. Units can be subscribed to or redeemed on a daily basis. This structure provides flexibility, although Golden Visa investors must maintain their investment for the required five-year period.

The fund offers daily NAVs and redemptions. Settlement typically occurs on a T+4 basis. Liquidity is high compared with closed-ended private equity funds.

The strategy is designed to prioritise preservation and steady growth. Returns mainly come from Portuguese corporate debt and high-grade international bonds.

Yes. Heed Capital accepts US investors and is FATCA compliant. US investors must confirm access to PFIC Annual Information Statements to make the QEF election.

The fund charges a 1.50% annual management fee, a subscription fee (one-off) of 2% on top of the investment, and a performance fee of 20% above a net 5% p.a. hurdle with a high-water mark. A 5% redemption fee applies only if redeemed within 12 months.

No. It is an accumulation fund. All interest and coupons are reinvested to enhance long-term compounding.

Daily. Investors can check the value of their units each business day.

It is classified as SRI 3 (on a scale of 1–7), placing it in the low-to-medium risk category. This reflects its bond-heavy allocation and limited exposure to equities.

The fund balances the 60% Portuguese exposure with up to 40% in international securities to help offset country-specific downturns.

Fund assets are held by the depositary bank (Bison Bank). They remain legally separate from the management company and would be transferred to a new manager if required.

You can, but doing so would jeopardize the residency application. Financially, redemptions are allowed; legally, you must maintain the investment.

No. The fund holds positions in EURs to avoid currency exposure.

Yes, Heed Capital has a jumbo account with Bison Bank, so investors can invest directly in the fund without the need to open a bank account in Portugal to make the investment.

The profile lists CMVM ID 115. The listed custodian is Bison Bank. Investors should verify current registry status and documents before subscribing.

The profile marks this fund as Golden Visa intended. Fund-route evidence must still be confirmed against current law, fund documents, and the applicant's own legal file.