OTP Asset Management, one of the top five asset managers on themarket, is preparing the listing of another closed-ended investmentfund, for which it intends to raise around 4-5 million eurosthrough a public offering scheduled for this September. Theinvestment management company will also launch an open-ended fundin 2010.
"The first fund - the open-ended one is 90% ready, and theclosed-ended one is a capital guaranteed fund, which we are set tolaunch in September and then list on the Stock Exchange. The valueof the closed-ended fund is somewhat higher, of four to fivemillion euros," said Catalin Iancu, chairman of OTP AssetManagement. He manages three open-ended and three closed-endedfunds, with overall assets worth more than 135 million RON (33million euros).
The investment management company launched for trading the fundunits of OTP Green Energy (GRE), with this being the year's firststock exchange listing. This is a capital guaranteed fund andoffers a 12% guaranteed yield after three years, calculated atnominal value.
In the first day of trading, fund units of OTP Green Energy weretraded at a price of 200 RON, the level paid by investors in thepublic offering at the end of last year, whose value amounted to8.7 million RON (2 million euros).
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