EAST CAPITAL TO LAUNCH LUXEMBOURG SICAV
East Capital announces the launch of a Luxembourg SICAV with two compartments: the East Capital (Lux) Russian Fund and the East Capital (Lux) Eastern European Convergence Fund. This way, the company will be able to provide investors seeking exposure to the Eastern European equity markets with a familiar and convenient set-up in EUR and USD.
As East Capital’s operations and global reach expand, the company aims to offer investment products better suited to the requirements of its increasingly international client base. On 31 January 2007 the two UCITS-compliant compartments will be launched in Luxembourg with a USD and EUR currency class, as well as a retail and institutional class. East Capital has retained CACEIS as custodian and central administrator for the SICAV.
“Our vision is to be the asset manager of choice for all investors seeking exposure to Eastern European growth and the new SICAV takes us a few steps closer to this goal”, says Peter Elam Håkansson, Chairman of East Capital. “We want to make it easier to invest in Eastern Europe for our private and institutional clients, as well as for our growing number of third-party distributors outside Scandinavia”.
The two compartments will be managed according to the same investment strategy that lies behind the success of the award-winning equity funds of the Swedish investment group, based on active stock-picking and risk minimisation deriving from high portfolio diversification. The East Capital (Lux) Russian Fund will be similar to the Swedish domiciled East Capital Russian Fund. The East Capital (Lux) Eastern European Convergence Fund will be a close reproduction of the East Capital Eastern European Fund without Russia, as this country will be excluded from the portfolio.
Facts about East Capital
East Capital is a leading, independent asset manager specialising in Eastern European financial markets. The company, which is headquartered in Stockholm, with offices in Paris, Hong Kong, Tallinn, Moscow and Oslo, actively manages over EUR 3.1bn, basing its investment strategy on thorough knowledge of the markets, fundamental analysis and frequent company visits by fund managers and analysts.
Further information can be obtained from:
Karine Hirn, East Capital, telephone +46 (0)8 505 88 526
karine.hirn@eastcapital.com