New Status Capital fund to invest in financial companies

New Status Capital fund to invest in financial companies

Bulgarian asset management company Status Capital has secured the approval of the local financial regulator to launch a new contractual fund.

Status Finance will invest up to 90% of its assets on the equity markets of the EU, Serbia, Macedonia, Montenegro, Russia, Turkey, Ukraine and Switzerland. The limit on Bulgarian equities is 70%.

Status Capital said the new fund will target the shares of financial outfits like banks, insurers and holding companies predominantly exposed to the financial sector.

Status Capital manages also the Status New Shares contractual fund with focus on Central and Eastern Europe emerging markets. The fund, with assets of 9.28 mln levs by March 28, has returned 23% so far in 2007.

In addition to Status New Shares, the other local funds playing the overseas equity markets are Advance Eastern Europe, a Karoll company, and Evropa, managed by Balkan Capital Management.