Raha ei mahu Baltikumi börsile ära
East Capital Baltic fund temporarily closed for subscription
2010-10-20
East Capital would like to inform investors that as of now, the East Capital Baltic Fund is temporarily closed for subscription of new fund units.
This means that orders for subscription received after 13.00 p.m. on 20th October will not be executed until the fund re-opens for subscription. The fund has had very large inflows lately, due to a strong performance in 2010. However, trading volumes on local stock exchanges still remain below historic levels. Therefore, it is necessary to close the fund for subscription of new fund units in order to effectively manage the fund and to protect the interest of existing unit holders.
The strong performance of the Baltic equity markets is explained by the recovery in economic growth, and the positive sentiment is supported by clearly improving corporate fundamentals. Earnings growth in the first half of 2010 has started to recover, and the positive trend is expected to continue in the third quarter.
In order to meet large future inflows and the strong demand for investments in the Baltic Fund, we are planning to expand the possibilities to invest in assets with indirect exposure to the Baltic region and to allow limited investments in the neighboring country of Poland. Changes in the principles of investments are currently being processed by the Swedish Financial Supervisory Authority. Our strong belief in the Baltic region remains, and direct investments in this region will still be our main focus for the Baltic Fund.
The decision to close the fund for subscriptions has been made by the Board of Directors of East Capital Asset Management AB in accordance with Section 9 of the fund rules and regulations of the Baltic fund.
The fund will be opened again for subscription, as soon as the situation allows. Please check our web site for further updates.
2010-10-20
East Capital would like to inform investors that as of now, the East Capital Baltic Fund is temporarily closed for subscription of new fund units.
This means that orders for subscription received after 13.00 p.m. on 20th October will not be executed until the fund re-opens for subscription. The fund has had very large inflows lately, due to a strong performance in 2010. However, trading volumes on local stock exchanges still remain below historic levels. Therefore, it is necessary to close the fund for subscription of new fund units in order to effectively manage the fund and to protect the interest of existing unit holders.
The strong performance of the Baltic equity markets is explained by the recovery in economic growth, and the positive sentiment is supported by clearly improving corporate fundamentals. Earnings growth in the first half of 2010 has started to recover, and the positive trend is expected to continue in the third quarter.
In order to meet large future inflows and the strong demand for investments in the Baltic Fund, we are planning to expand the possibilities to invest in assets with indirect exposure to the Baltic region and to allow limited investments in the neighboring country of Poland. Changes in the principles of investments are currently being processed by the Swedish Financial Supervisory Authority. Our strong belief in the Baltic region remains, and direct investments in this region will still be our main focus for the Baltic Fund.
The decision to close the fund for subscriptions has been made by the Board of Directors of East Capital Asset Management AB in accordance with Section 9 of the fund rules and regulations of the Baltic fund.
The fund will be opened again for subscription, as soon as the situation allows. Please check our web site for further updates.
Labels: investing
posted by Jaak Roosaare at 12:08 AM
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