Seven new mutual funds to be launched in March

“We hope that our funds will obtain yields of 10-25 percent in the first year from launch,” according to a statement for Business Standard by Corneliu Stanciu, General Manager of SAI Zepter, the market’s newest investment administration company. “We are planning a yield of over 10 percent for Fondul Zepter Obligatiuni, of some 20 percent for the Fondul diversificat Zepter Mixt, while Fondul Zepter Actiuni, which has the highest level of risk could register an advance of 25 percent,” added Stanciu.

The initial capital for the Zepter funds will be €5 million, of which Zepter Actiuni will invest some €3.5 mln in quoted shares. Zepter Mixt will start out with €1 mln, of which 70 percent for shares, while Zepter Obligatiuni will have half a million. “Depending on the evolution of the market, and provided discussions with insurance companies will prove this to be desirable, a portion of the share fund resources will be directed to the bond fund,” added Stanciu. The first clients of the Zepter funds will be the group’s companies and several of their shareholders.

The Target Investor open investment fund will be launched after 10 March, according to a declaration for Business Standard by officials of Target Asset Management. Target Asset Management has attracted resources worth €1 mln from companies in Cluj and several individuals for investment by its new fund, according to the company’s Vice President, Serban Nascu, who believes that the resources will triple following the first year of activity. It will invest 80 percent of its resources in quoted shares.

The three new OTP Asset Management mutual funds have also been approved by market authorities by April at the latest, said company officials, who intend to gain 7 percent of the market share by 2011.

Net assets of mutual funds dropped 3 percent, to RON 866.4 mln (€234.6 mln) from 31 October to 31 January, as a result of the stock exchange quotation turmoil.