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BRD enters mutual funds market

26.02.2001, 00:00 5



Although the mutual funds market is not to the liking of small investors after the FNI crash last year, Banca Romana pentru Dezvoltare (Romanian Development Bank-BRD) decided to give it a shot, feeling it may bring some credibility to this market.

It will enter the mutual funds market by launching a monetary type fund managed by Societe Generale Asset Management-BRD, a company especially established for this purpose.

The final documents will be submitted to the National Securities Commission (CNVM) sometime soon. The placements of the monetary fund will be short-term and made mainly in deposits and T-bills. The fund's investment units will be distributed through the bank's network.

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