On 5 March 2019, the Hungarian Parliament passed a law creating a new legal instrument for professional asset management. This new type of foundation (asset management foundation) may be established with the aim of managing the assets entrusted to it by the client, but the founders may also specify other purposes, e.g. making profits for the beneficiaries from various economic activities. According to Taylor Wessing Budapest experts, the new regulation may be an attractive alternative for both Hungarian entrepreneurs and international investors.