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Sep 17, 2007 16:31 EEST
September 17 (SeeNews) - Serbia's fourth mutual fund, Focus Premium, launched operations on Monday with fund capital of 135 million dinars ($2.35 million/1.7 million euro).
The open-end investment fund is managed by local company Focus Invest.
Focus Premium will invest at least 75% of its capital in shares traded on the Belgrade Stock Exchange, the head of Focus Invest, Aleksej Misailovic, told a news conference.
Serbia’s Securities Commission granted an operational licence to Focus Invest in August. Raiffeisenbank Serbia is the fund management company’s custodian bank.
Focus Invest plans to launch also a private investment fund, Misailovic said.
Raiffeisen Akcije, managed by Austria’s Raiffeisen banking group; Delta Plus, managed by fund manager Delta Investments, and Fima ProActive, managed by Serbian fund manager Fima Invest, part of Croatia-based financial group Fima, are the other open-end investment funds operating in Serbia.
(1 euro = 79.6145 Serbian dinars)
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