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27Nov2007
Flying start for Advance IPO Fund
More than BGN 5 mln. were raised in the first few days after the official start of the public offering of units of Advance IPO Fund. According to the asset management company - Karoll Capital Management, this is an absolute record in terms of amount of the funds raised by a collective investment scheme in Bulgaria upon its start. Most of the investors in Advance IPO Fund are physical persons with sound interest on the side of pension funds as well. The public offering of units of the mutual fund started on November 23, 2007.
Advance IPO Fund has already started working on its portfolio. The fund submitted an order for participation in the initial public offering of Enemona, it also prepares its participation in the privatization of the Romanian Transgaz.
“In December and in the next few months we expect very strong activity on the IPO segment in the countries from Central and Eastern Europe. With view to the specific investment focus of the fund, it should be noted that the portfolio will be structured slowly and will change dynamically. We keep track of promising IPO deals across the region. The selection of those in which we shall participate will be based on strict evaluation of the fundamentals of the company and the presence of a discount of the issue price compared to it”, said Nadia Nedelcheva, Portfolio Manager of Advance IPO Fund.
Advance IPO Fund provides the opportunity for indirect participation in initial public offerings of securities in more than 15 markets. The fund is suitable for a large circle of investors, who, under normal circumstances, could not entirely take advantage of the potential of the IPO segment in Central and Eastern Europe.
Units of the mutual fund can be purchased in the offices of Karoll Capital Management. There are no limitations regarding the minimum investment and the par value per unit is set at EUR 1. The issue and the redemption price of the units of the fund will be calculated twice per week – on Monday and on Thursday.
