Rogán: Beva should compensate investors for corporate bonds

MNB

Hungaryʼs Investor Protection Fund (Beva) should also offer compensation to investors for corporate bonds, Fidesz caucus leader Antal Rogán said on commercial television TV2 today, during an interview in connection with the recent scandals at the Buda-Cash and Quaestor brokerages.

Rogán noted, however, that investors should realize that buying bonds comes with greater personal risks than making a bank deposits. The return on bonds, however, is considerably higher than the interest rates offered by bank, hence the risk.

Hungarian news agency MTI noted that while Buda-Cash investors may apply for compensation from Friday, the question of whether Bevaʼs coverage extends to the more than HUF 100 bln in corporate bonds issued by a unit of Quaestor remains unanswered.

MNB data show that about two-thirds of Quaestorʼs 30,000-32,000 bond holders have individual investments under the HUF 6 mln Beva threshold, MTI added.

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