Karoll Investment Intermediary's business activities include securities brokerage, investment consulting, securities analyses, and capital structure advisory. Other services include restructuring and M&A consulting, investment banking and prospectus preparation, etc.

• Licensed with Financial Supervision Commission decision N 117/18.06.97 as well as No 332 – IP of 16.08.2000 for executing brokerage services abroad;
• Due to legislative changes the firm receives a new license № RG-03-0053/18.04.2006
• Member of the Central Depositary acting as a registration agent;
• Member and shareholder of the Bulgarian Stock Exchange;

Karoll’s main lines of business include:

• Brokerage services on the Bulgarian capital market;
• Brokerage services on international capital markets;
• Managed accounts (discretionary) services;
• Investment banking;

Karoll Capital Management is an asset management company licensed with decision No328 – UD/21-08-2003, subsequently relicensed with decision No11 – UD/16.02.2006. The company’s core business activities include management of mutual funds and closed-end funds as well as individual discretionary management and investment consulting. Karoll Capital Management structures securities portfolios in compliance with the investment objectives of its clients.
Karoll Capital Management currently manages two funds:

• Advance Invest is an open-end mutual fund licensed by the Financial Supervision Commission with decision №561 – ID of 22.12.2003. Advance Invest Mutual Fund is the first domestic fund with focus on the new EU entrants – Bulgaria & Romania. It has been a market leader in terms of return for several years in a row and ranks #1 by asset size.
• Advance Eastern Europe is an open-end mutual fund licensed by the Financial Supervision Commission with decision №29-DF/31.08.2006. It is the first domestic fund investing in 6 regional emerging markets, namely Russia, Serbia, Bulgaria, Romania, Croatia, and Ukraine. These markets offer high LT growth potential in view of their initial phase of development and constantly improving macroeconomic environment and legal framework.

Karoll Finance is a financial services company focused on consulting, investments and management. The firm offers a wide range of financial services for private and public companies and entrepreneurs. These include corporate consulting, project structuring, and M&A advisory. Karoll Finance is a REIT management company of Advance Terrafund – a land REIT - in accordance with the Special Purpose Investment Vehicles Act. It is also the investment advisor of the first Bulgarian private equity investor – Advance Equity Holding.

• Advance Terrafund REIT is a licensed special purpose vehicles investor focused on land. The agricultural land in Bulgaria remains an undervalued asset, which indicates high upside potential.
• Advance Equity Holding is a private equity investor with medium to long-term investment horizon. The company set up and run by Karoll, structures and manages a portfolio of privately-held firms financing their development and proving access to know-how, advisory on different functions (including financial and legal services), as well as support in the field of strategic decisions and management.