Investment fund "Raiffeisen akcije" collected 8m EUR - "Raiffeisen invest" announced founding of 3 more funds

- Within the scope of the public invitation, new investment fund "Raiffeisen akcije" collected more than 8m EUR from July 27 to August 9, 2007, and it won about 20% of Serbian market - said the Deputy President of Executive Board of Raiffeisen bank, Zoran Petrović.

- During that invitation, the Fund got 1,664 members from the country and abroad who bought investment units at price of 1,000 RSD. After that, on August 16, the Fund was registered in the Investment Funds Registry of the Securities Commission and was officially put into operation - said Petrović.

- Most of the members, nearly 85%, are physical persons, while 15% are companies - said Petrović.

Portfolio Manager of "Raiffeisen akcije", Jovana Kršikapa, pointed out that the Fund would invest at least 75% of funds in the stocks, which is relatively risky investment that brings high profits.

- The Fund will be focused on Serbian market both because the Law stipulates that the Fund must invest 70% of capital in Serbia and because it wants to "capitalize the momentum that is on in Serbia" - said she.

- All expenses paid by investors depend on the funds that enter the Fund and on the period of investment, so that the funds can be withdrawn from the Fund within the first year for 1% fee, while no fee exists for memberships that last for more than two years - Kršikapa explained.

Besides these expenses, the investors pay tax on capital profit to the state.

The participants announced that "Raiffeisen invest" would found three more funds that would have strategies different than that "aggressive" one.

By the way, Fund "Raiffeisen akcije" is controlled by "Raiffeisen invest", of which capital is 750,000 EUR. All administrative works can be carried out in the office of Raiffeisen bank in Srbia. Raiffeisen is also the broker to the fund, while the custody bank for the Fund is UniCredit, since custody bank can not be related to the Fund.