EFG Eurobank Mutual Funds to launch a “family” of 25 funds

EFM-EMF is continuing its offensive to raise sales, initiated simultaneously with the launching with Bancpost of the Ronsmart offer, which combines a banking deposit with preferential interest with investments in the Bancpost Active Balanced mutual fund.

“The Luxembourg Fund (Fund of Funds) or LF (FOF) family of investment funds was authorized in December 2007 in Luxembourg, and recently approved in Romania. It will gradually begin its activity, after its launch in Romania, but no later than the end of June. A major portion of the 25 funds will also make investments in Romania, with their fund units lei-denominated, and Romanian investors will not be exposed to virtual risk,” according to a declaration for Business Standard by EFG Eurobank Mutual Funds Romania’s General Manager, Daniel Stifter. “Most probably, our Bucharest branch will administer LF (FOF). Of course, the units of the funds from the structure will not all be distributed at once, but one of the 25 will be dedicated to local market share investments,” added Stifter.

The launching of the LF (FOF) is part of EFG-EMF’s development campaign some two years ago, at the time of the launch of the Ronsmart

The fund had 1,700 new investors in 2007.

EFG-EMF is part of the Greek Eurobank EFG Group, and was fourth among top mutual fund administration companies in Romania at the end of last month, with a market share of 12.8 percent of total net assets, or RON 866 million (some €240 mln). EFG-EMF Romania administers the Bancpost Plus monetary investment fund and the Bancpost Active Balanced diversified investment fund, with total assets worth RON 109 mln as of 19 March (€29 mln), with 4,000 investors.