The fund was launched on 27 October, and owes its attractiveness to the “special interest in euro-denominated savings, as clients want to have euro resources, considering the uncertain economic situation,” said Mihail Ion, President of Raiffeisen Asset Management (RAM), the fund’s manager.
Raiffeisen Europlus plans to take advantage of the increase in the volume of euro-denominated state and corporate bond issues. One month after the launch of the fund, the Ministry of Finance attracted €1.4 billion through one-year state bonds, with a 4.25 percent coupon, subscriptions being 3.5 times higher than the amount initially requested. “More than half of the fund’s assets are invested in the past three euro-denominated treasury certificates and state bond issues launched by the Ministry of Finance,” said Ion.
The fund attracted more than 1,000 investors, with individuals covering 68 percent of the net assets. Raiffeisen Europlus is one of the two local euro investment funds. The Piscator Audas fund, with much lower assets, of €425,000, is intended for investors with a good appetite for risk.
