Where
investments protect the world

Invest in a sector defining global priorities

10 - 11 %
Performance of PIA and BIA shares in 2024
9 - 11 %
targeted annual gross yieldwith a three-year investment horizon
3,2 billion
Fund NAV (10/2025)

The DEFENCE SICAV, a.s. (Czech joint-stock company) is a thematic investment fund focused on the dynamically growing sector of defence, security and training. We focus on attractive companies that benefit from growing expenditure on defence and security across the world.

Current performance figures for individual investment share classes are available at: CODYA IS, a.s.

Take advantage of the growing trend of global investments in defence and security

EUR 800 billion
projected spending on strengthening European defence

Why invest with us?

  • Growing sector – defence expenditures of the EU and NATO are reaching global record levels
  • A one-of-a-kind European fund – focused exclusively on defence & security
  • Long-term growth potential – stability and return

  • Expert Management team – professional team with international experience
  • Active acquisition strategy – the fund actively searches for new investment opportunities

A fund for investors who want more than the average

The DEFENCE SICAV, a.s. (Czech joint-stock company) is intended for investors who seek long‑term stable growth and wish to enrich their portfolio with a strategically focused thematic fund. It targets anyone who tracks global trends and sees opportunities in the defence and security industry. The fund is suitable for both qualified individual investors and institutional clients looking for meaningful and well-managed investment opportunities in a dynamically developing sector.

Tim Castagne
Tim Castagne

CEO AREX, Bussiness strategy

Milan Šlapák
Milan Šlapák

CEO STEYR Arms, Operation strategy

Tim Castagne

Tim Castagne

We are well positioned to deliver on our vision of a safer world. A key element of our strategy is leveraging the strong and long-standing relationships that AREX and STEYR ARMS maintain with the governments and armed forces of their home countries. This provides both companies with a strong platform for further growth and expansion.

Over 20 years of experience in the defence industry. He previously held senior executive positions at leading German companies such as SIG Sauer, Carl Zeiss and Heckler & Koch.

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Milan Šlapák

Milan Šlapák

Since 2025, Milan Šlapák has been Chief Executive Officer of the firearms manufacturer STEYR ARMS, which together with AREX is part of the qualified investor fund DEFENCE SICAV, a.s. Milan Šlapák has nearly 25 years of experience in management positions within the multinational conglomerate General Electric (GE). He gained extensive international experience in France, the United States, Italy and China. From 2019, he worked as Managing Director of GE Aviation Czech Republic. He also held the position of President of the American Chamber of Commerce in the Czech Republic and has long been active in the academic sphere.

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