PME Investimentos is subject to the legal regime of Investment Companies, defined by Decree-Law no. 260/94, of October 22nd, and applicable provisions of the General Regime of Credit Institutions and Financial Companies established by Decree- Law no. 298/92, of December 31st.

The Company is also subject to the supervision of Banco de Portugal, observing all the regulations issued by this entity, applicable to investment companies and to the regulations applicable to financial companies of the Public Business Sector.

Internally, only the Regulations of the Board of Directors stand out, which, respecting the Companies Code and the Company Statutes, The rules of operation of this Board, the Code of Ethics and the Plan for the Prevention of Corruption Risks.

The identification and supervision of transactions with related parties is performed with reference to the provisions of Article 63(4) and (5) of the Corporation Tax Code.




Fee and commission income

6 160 784,01€

6 590 327,67 €

Expenses refund

111 758,47 €

Personnel costs


1 000,00€

General administrative expenses

18 067,80 €

Dividends distributed

2 399 622,61 €

3 307 947,23€

With a systematic and materially relevant character, we highlight the commissions earned for the management of the funds, as well as the management costs that are imputed to the managed funds, in both situations the setting of values ??or the method of calculation made through ministerial dispatch.

Personnel costs refer to attendance vouchers obtained by IAPMEI, as Chairman of the Board of the General Meeting. General and administrative expenses include the provision of services by Portugal Capital Ventures – Sociedade de Capital de Risco, S.A. related to the treatment of information on the funds managed by this entity that form part of FINOVA’s shareholding portfolio.

In 2019, dividends were also distributed to the shareholder IAPMEI, in the amount of 1,995,036.50 euros, and to the State / Directorate-General for Treasury and Finance, in the amount of 404,586.11 euros.

In light of the fact that PME Investimentos is covered by the subjective scope of application of the Public Contracts Code, complying with the provisions of Official Letter no. 1730/10 of 25 February 2010 and Order no. 483/10 of 10 May 2010 of the Secretary of State of Treasury and Finance, the acquisition of goods and services by the Company respects the public procurement principles and procedures, particularly those arising from the public procurement rules in force in 2019.

In 2019 no transactions were performed outside market conditions.

In 2019, there were no transactions with companies with supply values ??greater than 1 million euros.

PME Investimentos has a Code of Ethics, which was approved by the Board of Directors in 25 February 2009, as per minute no. 308, which is in force today. It includes a set of principles and rules of ethical and deontological conduct to be observed by the Company and by all its associates, in mutual relations and in relations that are established in the Company’s name with third-party bodies, whether long-term or on an ad hoc basis.

This Code is publicised on the Company’s website.

Additional Public Information about Good Governance principles may be found at Setor Empresarial do Estado da DGTF – Direção Geral do Tesouro e Finanças.

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