About us

About the Management Company

Vista Rica ad Belgrade was founded on November 9th, 2023, and registered in the Business Registers Agency under no. BD 100332/2023, registration number: 21962414, TIN: 114044291.

The Management Company operation was approved by the Securities Exchange Commission of the Republic of Serbia in decision number 2/5-101-2546/4-23 of November 28th, 2023, granting authorization to manage alternative investment funds in accordance with the Law on Alternative Investment Funds.

Based on the decision of the Securities Exchange Commission of the Republic of Serbia number 2/5-101-1803/4-25 dated July 18th, 2025, the Company was granted authorization to manage open-ended investment funds subject to public offering.

We are an independent investment company, Management Company for Openended Investment Funds subject to public offering and Alternative Investment Funds, with a team boasting more than 20 years of experience. As long-term investors, we are committed to directing capital toward sustainable growth and community development. We do this by building responsible partnerships with our clients and the companies in which we invest. Vista Rica is an investment group that offers asset and investment funds management.

Our guiding business principles include:

Independence

Rooted in a long tradition of independence of our shareholders and employees, we are free from external influences, allowing us to act in the best interests of our clients, colleagues, and communities, as well as the companies in which we invest. This allows for the independence of mind that is key to successful investment performance.

Long-term thinking

Thinking long-term means resisting the allure of short-term trends in favor of sustainable decision-making. Our investments and operations are focused on creating sustainable value for all, contributing to a stronger Vista Rica.

Partnership

Beyond our legal structure of a joint stock company, Vista Rica is a true partnership symbolizing respect, trust, and long-term commitment. This shared vision enables us to embrace diversity and promote inclusion.

Accountability

Accountability is a cornerstone of our long-term partnerships. By acting with integrity and a sense of responsibility to both current and future generations, we are fostering a truly sustainable approach to investment.

Entrepreneurial spirit

To maintain our independence, long-term focus, partnerships, and accountability, we must preserve our entrepreneurial spirit. By not staying adaptable, innovative and original as they grow, many businesses become process-driven bureaucracies. We are committed to stay true to our entrepreneurial roots.

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Company’s management bodies - biographies

The management comprises the Supervisory Board and the Director of the Management Company

Zoran is a graduated banking manager with many years of banking experience.

He began his professional career at Findomestic Banka AD Belgrade, a member of the BNP Paribas French banking group, where he held positions in Risk Management, Internal Audit, and managerial roles within Compliance Control.

He continued his career at Telenor Bank AD Belgrade, contributing to the development of innovative digital services and the advancement of digital banking solutions. Since 2018, he has served as a member of the Executive Board of Banka Poštanska štedionica AD Belgrade, with responsibility for the risk management function. In December 2019, he also became a member of the Executive Board of Direktna banka AD Kragujevac, overseeing operational affairs and support functions.

Since 2021, Zoran has been a member of the Board of Directors of Bank of China in Serbia. In the same year, he assumed the role of Financial Consultant and is currently focused on business development activities within the information technology sector.

Since the establishment of Vista Rica AD Belgrade, he has served as Chairman of the Supervisory Board.

Securities Exchange Commission Decision on consent – number 2/5-101-2546/4-23, dated November 28th, 2023.

Vladimir Lučić

Vladimir Lučić is an attorney with many years of experience in the field of law, corporate governance, and organizational management. He has been practicing law since June 2013, following a period of legal traineeship which he completed between 2010 and 2013.

Throughout his career, he has also held notable managerial positions, most prominently serving as the Chairman of the Supervisory Board of the Accreditation Body of Serbia from 2013 to 2021.

He holds both the bar and judicial exams and has a high level of proficiency in English and German, as well as certification for accreditation bodies under the SRPS ISO/IEC 17011 standard and Regulation (EC) No 765/2008.

He is a member of the Belgrade Bar Association, the Bar Association of Serbia, and the Alumni Organization of the University of Belgrade, and he served as a member of the Managing Board of the Red Star Rowing Club.

He also participated in the free legal aid program at the Criminal Law Clinic of the University of Belgrade Faculty of Law.
Securities Exchange Commission Decision on consent – number 2/5-104-564/6-26, dated March 31st, 2026.

Daniel Nathan Hoffman

Mr Daniel Hoffman possesses extensive international experience in leading intelligence operations across Europe, the former Soviet Union, the Middle East, and South Asia. Throughout his career, he has managed complex programs and multidisciplinary teams in cooperation with leading U.S. institutions, including the FBI, NSA, NRO, and the U.S. Department of Defence.

He is widely recognized for his expertise in geopolitics, national security, counterterrorism, and cybersecurity. During his career, he advised senior CIA leadership, members of Congress, and representatives of the U.S. Administration, while also developing strategic partnerships with international leaders across Europe, Asia, North Africa, and the Middle East.

Since 2018, he has served as a contributor and analyst for Fox News, providing independent analysis of security and geopolitical issues.

He received his education at some of the world’s leading academic institutions. He holds a Master of Public Administration from the Harvard Kennedy School of Government, a Master of Science in International History from the London School of Economics, and completed his undergraduate studies at Bates College.

Mr Hoffman is fluent in English and Urdu, with advanced proficiency in Russian, Estonian, and Finnish, and has a basic knowledge of Ukrainian.

He is a regular author and commentator in leading U.S. media outlets and publications, including The Washington Times, The New York Times, The Hill, and other media specializing in geopolitical and security affairs.

Stanislava Petković

Stanislava earned her degree in economics at the Faculty of Business Studies of Megatrend University in 2007.

She was granted her broker license from the Securities Exchange Commission in 2011, and her ACI Dealing certificate in 2020. She also obtained an international license by the Investor Relations Society UK, as well as an ESG investing certificate by the CFA Institute.

Stanislava has extensive experience in working on financial markets and with financial instruments. She began her career in 2007 in the broker-dealer firm Senzal ad, which was soon taken over by the Belgian banking group KBC NV. She has continued her career at BDD Wise broker ad in 2011 as a broker, where she was mainly in charge of cooperation with institutional investors. Stanislava joined the Momentum Securities ad brokerage team in 2017, where she was responsible for trading on domestic and foreign stock exchanges, and in 2019 she moved to UniCredit Bank ad in the Client Risk Management & Treasury as a broker and dealer.

Stanislava was involved in the founding of the Center for Activism, Tolerance, and Sustainable Development Ad Drinum and currently serves as a member of its Board of Directors.

Investment Committee

The Investment Committee is an expert advisory body that participates in defining the investment strategy and making strategic decisions in the fund asset management process. Through the exchange of professional opinions, analysis of market trends, and assessment of investment opportunities, the Investment Committee contributes to the quality of the decision-making process and the long-term achievement of investment objectives.
The Committee consists of experienced professionals and professors of economics who provide additional expertise through their knowledge and experience in the development of strategic investment guidelines.

Chair of the Investment Committee

Aleksandar holds a degree in Economics and a Master’s degree in economic sciences, with nearly two decades of experience in financial markets, portfolio management, and investment advisory.
He began his professional career in the banking and brokerage sectors, where he gained extensive experience in securities trading, fundamental analysis, and portfolio management.
Throughout his career, he held senior positions at Intercapital Securities and NLB Bank, where he was responsible for the development of investment products, strategic risk management, and advising on investment projects.
In addition to his work in the financial sector, Aleksandar has been actively involved in education and professional development.
As a teaching assistant at the Faculty of Engineering Management in Novi Sad, he lectured on subjects including banking operations, stock exchange business, and financial markets.
His expertise includes portfolio management, strategic market analysis, as well as the implementation of domestic and international financial regulations, making him a highly regarded professional in the field of investment management.
He holds Portfolio Manager License No. 5/0-27-1571/2-08, issued by the Securities Exchange Commission of the Republic of Serbia on March 26th, 2008.

Nikola Fabris is a Full Professor at the Faculty of Economics in Belgrade. He is the Head of the Department of Economic Theory and Analysis.
From 2004 to 2013, he served as Chief Economist of the Central Bank of Montenegro, and from 2013 to 2025 as Vice Governor.
From 2008 to 2026, he was a member of the Board of Governors of the International Monetary Fund.
He served two terms as President of the Statistical Council of Montenegro. He was also a member of the Board of Directors of the Central Depository Agency.
From 2012 to 2021, he was a member of Montenegro’s Negotiating Group for accession talks with the EU and the Head of Negotiating Chapters IV, IX, XVII, and XVIII.
As a project leader or member of project teams, he worked on more than seventy macroeconomic projects for line ministries, the Federal Government, and international institutions (GTZ, UK DFID, OECD, CIPE, the European Agency for Reconstruction, the European Training Foundation, FIAS, etc.).
He was also engaged by renowned international consulting firms such as Deloitte and Touche, PE International, Barenshot International Solutions, New Insight, and others. He worked as a consultant for around ten large companies, including Vojvođanska Banka, Novi Sad Fair, Zastava Automobiles, DMB Engine Factory, JP Kostolac, Inex, and others.
He has published over 100 academic papers and 16 monographs, as an author or co-author.

Mrs. Radonjić Petrović holds a degree in Economics from the Faculty of Economics, University of Belgrade, as well as a Master’s degree in Capital Markets from the Faculty of Organizational Sciences, University of Belgrade.
She has been working in the financial sector since 1995 and has 30 years of experience in corporate finance, strategic advisory services, and international capital markets.
For a total of 15 years, she served as the Chief Executive Officer of M&V Investment, the most successful brokerage firm in Serbia and one of the leading firms in the region, overseeing the execution of the largest stock exchange transactions on the Belgrade Stock Exchange for renowned domestic and international clients.
In 2008, she founded the consulting company Rose Capital, where she continues to serve as Founder and Managing Director.
In 2010, she joined the public sector as State Secretary at the Ministry of Economy and Regional Development, where she made a significant contribution to establishing the legal, institutional, and strategic framework for both regional development policy and entrepreneurship and SME development policy in Serbia.
Subsequently, from 2012, as Special Advisor at the Ministry of Finance and Economy, she successfully coordinated a team of experts responsible for organizing four Eurobond issuances for the Republic of Serbia, enabling the country to secure financing under the most favorable terms available.
Following her tenure in the public sector, she returned as Chairwoman of the Board of Directors of M&V Investment. In 2014, she founded MD Solution, where she remains a Partner.
The company provides financial and strategic advisory services in accordance with the highest international standards and has successfully completed numerous transactions in Serbia and across the region.
In addition to her professional career in finance, Mrs. Radonjić Petrović contributes to corporate governance and strategic decision-making in major Serbian companies through her participation in their governing bodies.
She has served as a member of the Board of Directors of the Belgrade Stock Exchange, Chairwoman of both the Board of Directors and the Shareholders’ Assembly of AIK Banka a.d., and a member of the Board of Directors of Knjaz Miloš a.d.
She currently serves as an Independent Member of the Supervisory Board of UNIQA Life Insurance a.d.
She is highly engaged in promoting economic science, the development of capital markets, and the enhancement of economic literacy.
She is a member of the Executive Board and Vice President of the Serbian Business Club “Privrednik”, Vice President of the Serbian Association of Economists, Vice President and Board Member of the Association of Business Women in Serbia, and a Founder and Member of the Serbian Association of Corporate Directors.
She is a regular speaker and moderator at leading regional conferences and forums focusing on national and regional economics, financial markets, corporate finance, and public finance. Since 2018, she has also been actively engaged in diplomacy and is currently serving her third term as Honorary Consul of the Republic of the Philippines.
She is married and the mother of two children.

Ivan is a Portfolio Manager and Chairman of the Investment Committee of Dunav Voluntary Pension Fund Management Company, with more than 20 years of experience in domestic and international financial markets.
Throughout his career, he has specialized in portfolio management, cooperation with institutional investors, strategic and tactical asset allocation, and market risk management.
He is responsible for developing the fund’s investment strategy and investment policy, defining asset allocation across various asset classes, and optimizing the risk-return profile of the portfolio. He possesses extensive experience in active portfolio management and the application of various risk management tools.
For more than ten years, he has served as a member of the Investment Committee of Dunav Insurance Company, where he participates in the development of the investment policy for technical reserves and the optimization of the company’s investment portfolio.

Stanislava has many years of experience in financial markets and financial instruments.
Since the beginning of her career, she has built her professional expertise primarily within banks and brokerage firms, gaining comprehensive knowledge of both domestic and international financial markets, as well as a wide range of financial instruments.
She began her career in 2007 at the brokerage firm Senzal a.d., which was subsequently acquired by the Belgian banking group KBC Group. In 2011, she continued her career at Wise Broker a.d. as a Broker, where she was primarily responsible for cooperation with institutional investors. In 2017, she joined the brokerage team of Momentum Securities a.d., trading activities in both domestic and international capital markets. In 2019, she moved to UniCredit Bank, joining the Client Risk Management and Treasury Division, where she held the positions of Broker and Dealer.
In addition to her professional career, she participated in the establishment of the Center for Activism, Tolerance and Sustainable Development Ad Drinum, where she serves as a member of the Board of Directors.
She currently serves as the Chief Executive Officer of Vista Rica Fund Management Company, which manages five investment funds with total assets under management exceeding EUR 125 million.

Jelena graduated from the Faculty of Economics, University of Belgrade, majoring in Foreign and Domestic Trade.
She began her professional career in 2005 at Komercijalna Banka, in the Brokerage and Dealer Operations Department, where she worked as an Analyst. In 2006, she passed the professional examination administered by the Securities Commission and obtained a Broker License.
Following the establishment of KomBank INVEST Fund Management Company a.d. Belgrade in 2008, she assumed the position of Internal Controller.
In 2013, she passed the professional examination administered by the Ministry of Finance and obtained a license as an Authorized Officer for the Prevention of Money Laundering and Terrorist Financing.
From 2015 to 2023, she served as Head of Accounting and Finance, where she was responsible for preparing and compiling financial statements for the fund management company and the investment funds under its management, preparing business performance reports for the company and the funds, conducting business analyses, and preparing statistical and other reports for the company’s shareholders and regulatory authorities.
She was also responsible for the daily calculation of the net asset value of investment funds and reconciliation with the custodian bank.
Since July 2024, she has served as Chief Financial Officer (CFO) of Vista Rica a.d. Belgrade.

Shareholders of the Management Company

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