Obelisco is an alternative closed-end real estate investment Fund established by a resolution of the Board of Directors of the former Investire Immobiliare SGR on 28 April 2005. The By Laws were authorised by the Bank of Italy, pursuant to art. 39, clause 3, of the TUF (Testo unico della Finanziaria), on 3 August 2005.
The original duration of the Fund was 10 years (expiry date 31st December 2015) + 3 years extension option (the so called “grace period”). On 7th November 2014, the Board of Directors of the SGR extended the Fund’s life for the 3 years grace period with a new expiration date on 31st December 2018.
The original equity of the Fund (€ 217,700,000) has been raised “by cash” among retail investors though the placement of 68,800 units with a nominal value of € 2,500 each.
Since 14th June 2006 the units of Obelisco have been listed on the MIV segments of Milan Stock Exchange dedicated to closed-end funds.