Eurobank Cyprus becomes the first bank in Cyprus to announce the launch of UCITS mutual funds

                                                                                                Thursday, 27 July 2017

 

Eurobank Cyprus pioneers by announcing the launch of UCITS ERB Funds VCIC PLC, strengthening its leading position in the Mutual Funds industry in Cyprus. This way, Eurobank Cyprus actively supports the establishment of collective investments schemes and contributes to the promotion of Cyprus as a trustworthy business centre for investment funds within the European Economic Area.

The Undertakings for the Collective Investment of Transferable Securities (UCITS) ERB Funds VCIC PLC is licenced and regulated by the Cyprus Securities and Exchange Commission.

Initially, the ERB Funds VCIC PLC will consist of the following two Mutual Funds:

  • ERB Short Duration EUR Mutual Fund denominated in Euro
  • ERB Short Duration USD Mutual Fund denominated in US Dollar

The investment objective of each Mutual Fund is to achieve consistent absolute returns through investments in fixed income transferable securities, money market instruments and bank deposits. Both Mutual Funds offer investors diversified exposure in short term investments with high liquidity.

UCITS Mutual Funds are characterised by the great value added through the collective investment management of a large number of investors. Through UCITS Mutual Funds, a very large number of investors gain access to capital and equity markets. These are based on the idea that many investors, who share the same investment philosophy and common goals, pool their money, creating a large, powerful capital base that is actively managed by professional portfolio managers.

The stringent European regulatory framework governing UCITS Mutual Funds makes them one of the most effective asset management tools that can yield notable advantages to investors:

  • Professional investment and portfolio management
  • Direct liquidity
  • Enhanced Risk/Reward profile through wide investment diversification
  • Comparatively low transaction costs
  • Low initial capital investment requirements
  • Full transparency through daily publication of prices and returns

These investor friendly mandates make UCITS Mutual Funds an investment choice for both institutional and retail investors.

ERB Funds VCIC PLC aims towards the gradual enhancement with additional Mutual Funds covering a broad range of investment strategies, both in terms of thematic and geographical style.

Since its inception in Cyprus in 2007, Eurobank Cyprus has been particularly active in the field of investment funds, where it holds a leading position, operating as a custodian for a large number of collective investments operating in Cyprus. In addition, it offers a wide range of services that can serve the investment fund industry, including investment transactions and Depositary services.

For more information, please contact the Wealth Management Division of Eurobank Cyprus at +357 22 208000.