Target has investors for real estate fund

The minimum placement in the fund will be €500,000 per investor, company officials said. However, “we cannot say what the [investment] prospect is to include before we see the form of the new regulations,” Target Asset Management Vice President Serban Neacsu told Business Standard.

CNVM and asset management companies have been working for more than two years now on changes to be made to current investment fund market regulations. These changes are meant to allow for the launching of new investment fund types, both open and closed. The commission is studying the final draft for the new regulations, and is expected to approve this shortly.

Target currently manages open investment funds Fortuna Gold and Fortuna Clasic, with net assets totaling €2.4 million, and a 1.1 percent share of the investment fund market. It postponed the launch of its Target Investor open share fund, for which the company had already secured €1 mln worth of investments, due to poor financial market conditions.