Capital market watchdog green lights six Erste open investment funds in Romania
Publish date: 08-10-2008Romania's capital market watchdog (CNVM) authorized six open investment funds of Austrian financial group Erste, which will be administered by Erste Sparinvest, according to data from CNVM. ESPA Stock Global Emerging Markets, ESPA Bond Europe, ESPA Bond Dollar, ESPA Bond Danubia, ESPA Stock Global and ESPA Stock Europe Emerging are funds registered and supervised by the financial market watchdog in Austria.
Securities of ESPA Bond Europe are authorized on six more markets and the fund mainly invests in Eurozone bonds. ESPA Bond Dollar invests in dollar denominated bonds, like U.S. state securities and Eurobonds in dollars. ESPA Bond Danubia focuses on bonds in Central and Eastern Europe and state securities issued by Poland, Hungary and the Czech Republic.
ESPA Stock Global places shares at a global level, totaling between 80 and 150 stocks in its portfolio. ESPA Stock Global Emerging Markets makes long-term investments on emerging markets in South America, South-East Asia, Eastern Europe and Africa. ESPA Stock Europe-Emerging invests in shares in Central and Eastern Europe, Russia, Turkey and Austria.
BCR Asset Management is leader of the open investment funds on the Romanian market, with a total 291 million lei in administered assets at the end of August and a market share of 31.6 percent. The asset management division of Romania's largest lender by assets Banca Comerciala Romana, in which Erste Bank owns the majority stake, has eight open investment funds, out of which four have diversified placements, two invest in bonds, one in shares and another one on the money market.
NewsIn
Latest News:
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei