OTP Bank Romania has signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP Bank Romania has become the distributor and payment agent in Romania for mutual investment funds managed by Eurobank Fund Management. “The partnership with Eurobank Fund Management Company is an opportunity to grow OTP Bank Romania’s portfolio, both in terms of investment products and number of investors. Currently, the bank distributes over 50 open-end investment funds managed by renowned asset management companies, and through this partnership we will be able to offer our clients a comprehensive range of investment alternatives,” stated Corina Stoica, director Private Banking and Financial Advice Division, OTP Bank Romania. The distributed funds are handled by investment management companies in Romania, such as OTP Asset Management SAI SA and in Luxembourg, such as NN Investment Partners or … [Read more...] about OTP Bank signs a partnership with Eurobank for the distribution of investment funds in Romania
Open ended investment company
Treasury and Finance Minister Berat Albayrak pursued intense economic and financial diplomacy in New York, where he also attended opening of the 73rd session of the U.N. General Assembly this week. On Thursday, Albayrak held meetings with the largest U.S. investment companies, including Stone Harbor, Alliance Bernstein, Massachusetts Financial Services, Neuberger Berman, Wellington Management, NWI Management, Lazard, PGIM and Invesco, and the banking giants such as Citibank, JP Morgan and Goldman Sachs. The individual meetings with each investment company or bank were attended by CEOs and chairmen in charge of developing countries. The total assets managed by the investment companies joining the meetings amounted to $5 trillion. Albayrak also met with Cyril Muller, the World Bank's vice president in charge of Europe and Central Asia. "We have prepared our road map and will implement it with determination," Albayrak said, responding to questions about Turkey in the meeting that was held … [Read more...] about Finance Minister Albayrak holds meetings with largest US investment companies, banks
Fenway Sports Group have reiterated that Liverpool FC is not for sale after a proposed £2billion takeover of the club failed. However, the Reds' American owners remain open to the idea of selling a minority stake in return for the right investment. It has emerged that Abu Dhabi-based Sheik Khaled Bin Zayed Al Nehayan, the cousin of Manchester City owner Sheik Mansour, tried to buy Liverpool earlier this year. The £2billion offer would have been the most expensive takeover in the history of football with Midhat Kidwai, the managing director of Sheik Khaled's conglomerate of companies, meeting Liverpool chairman Tom Werner in New York. The Mail report that the buyout that would have been a joint venture between Sheik Khaled and a minority stake Chinese partner. FSG admit there was interest but have played down the significance of the discussions that took place. Liverpool's owners use the services of Allen & Company, a New York-based boutique investment bank, to vet and … [Read more...] about Details of takeover bid revealed as FSG remain open to investment
Brought to you by Find out why investors are choosing to put their money into investment trusts in record levels Rosemary Bigmore It is easy to understand why many investors would prefer to invest using a fund than by picking individual stocks, shares and other assets. Funds allow you to diversify your portfolio easily, as well as giving you the chance to benefit from the expertise of fund managers. And in recent years a particular type of fund, the investment trust, has been becoming steadily more popular. According to the most recent figures from the Association of Investment Companies (AIC), investments into these funds reached record levels in 2017. But why? These trusts are listed on the stock exchange, and are also known as close-ended funds. This year is the 150th anniversary of the oldest of these funds, Foreign & Colonial Investment Trust. Founded with the aim of “bringing stock market investing to those of moderate means”, the fund has … [Read more...] about Why are investment trusts so popular?
Norway's finance minister Siv Jensen. Photo: Ole Berg-Rusten / NTB scanpix Norway's sovereign wealth fund, the world's largest at more than $1 trillion, should not be allowed to invest in private equity as it had requested, the government said Tuesday, citing cost and lack of transparency. The finance ministry announced its recommendation in its annual white book on the country's pension funds. Norway's central bank, which is tasked with managing the enormous wealth fund, had asked to be permitted to invest in unlisted companies because of the possibility of higher returns. But Finance Minister Siv Jensen said no. "This is purely and simply because of the fact that we care about the fund's image... especially when it comes to transparency," she told reporters. The fund, valued at 8.48 billion kroner (almost 880 billion euros or $1.08 trillion) at the end of 2017, was at the time invested in stocks (65.9 percent of the portfolio), bonds (31.6 percent) and real estate (2.5 … [Read more...] about Norway says wealth fund should not invest in unlisted companies