HVB Bank sells Ft 4.95 bln of new Triatlon fund
Tuesday, October 25, 2005, 17:45
HVB Bank and CA IB Fund Manager sold Ft 4.95 billion of units in their new HVB Triatlon 2 fund during a subscription period between September 26 and October 21, HVB announced on Tuesday. Subscription far exceeded that of HVB's four previous guaranteed funds, HVB Bank director Dávid Baranyai said. Clients' demand has been increasing for investments which guarantee the repayment of principal and offer a chance for above-average yields, he said.
Units of the fund worth between Ft 1 billion and Ft 5 billion were offered during the subscription period. The fund, which has a tenor of three and a half years, invests in shares, real estate and the money market. Investors' yield corresponds to the highest yield among the three. HVB Bank guarantees repayment of investors' principal.