Sat, May 26 2012

Bulgaria's Elana Fund Management given approval to launch eighth mutual fund

Thu, Oct 21 2010 10:10 CET

byDnevnik.bg

1631 Views
Bulgaria's Elana Fund Management given approval to launch eighth mutual fund

Ivaylo Penev, portfolio manager of Elana Global Fund Shares.

Photo: Georgi Kozhuharov

Bulgaria's financial watchdog approved on October 20 2010 Elana Fund Management's plan to establish its eighth mutual fund, dubbed Elana Global Fund Shares.

The global equity fund, with a high-risk profile and denominated in euro, will invest predominantly on the international capital markets.

It will focus mainly on blue chips and exchange-traded funds related to the emerging markets, including China, India, Russia, Brazil, the investment company said.

The fund's investment strategy stipulates investments of up to 90 per cent in shares on international markets, up to 20 per cent in Bulgarian shares and investments of up to 50 per cent in units of large mutual funds with a successful history in various types of exchange-traded funds.

The basic value of one share of the new fund is 100 euro.

"The global economy is undergoing recovery and the worst of the global crisis is over. So, the second half of 2010 is a good time to launch a global equity fund in view of the opportunities for adequate investment during the recovery process. The specific diversification of the fund, which counts on stable global companies, will optimise the risk of cyclical fluctuations on the different markets," Ivailo Penev, portfolio manager of Elana Global Fund Shares, said.

Source: Dnevnik.bg

  • Print
  • Send via email
  • Translate to
  • Share:

To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

Analysts warn of stagflation risk in Bulgaria

Bulgaria's economy was risking stagflation, analysts told Dnevnik daily as official figures showed year-on-year inflation reaching a seven-month high of 1.3 per cent in March.

Elana Holding invests 30M euro in wind park

The projected annual revenue from the wind park operation is estimated at 14.5 million euro during the course of 5200 hours of effective work. Completion and connection to the national grid to be achieved by the end of 2010

Bulgarian stocks take new nosedive

As swathes of Europe confirmed they were officially in a recession and more downbeat macroeconomic data was expected from the US, the Bulgarian Stock Exchange (BSE) continued on its downward trend on November 17, recording one of its worst daily drops in history. The Sofix index, which tracks the performance of the 10 most liquid stocks on BSE, finished the day 7.7 per cent lower at 361.41 points, taking its losses for the year to 79 per cent. The wider BG40 index lost 7.9 per cent to close at 108.09 points.

More in this category

Bulgaria secures one-year extension on Belene loan - minister

The option to postpone the due date was contingent on securing 55 million euro for immediate repayment of the amounts loaned by Belgium's Dexia and Japanese bank Mizuho.

Euro zone unemployment at record high

The Eurostat data agency said that unemployment reached 10.9 per cent in March, up from 10.8 per cent in February. The March figure translates to 17.4 million people unemployed in the euro zone.

Sale of Bulgarian telecom BTC faces cancellation – report

Citing three separate sources familiar with the deal, Capital Daily reports that the creditors found offers submitted by three bidders unsatisfactory.

Raiffeisen takes over Polbank

Eurobank EFG is left with a 30 per cent stake in the merged entity but has said it will exercise its put option on the remaining holding.

Global jobs crisis to continue for some time, ILO report says

The narrow focus of many euro zone countries on fiscal austerity is deepening the jobs crisis and could even lead to another recession in Europe, said the Director of the ILO Institute for International Labour Studies and lead author of the report, Raymond Torres.

Appointments

Employment Agency

Employment Agency

Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.

Uniqa

Uniqa

Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.

Kamenitza

Kamenitza

Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.

Beiersdorf

Beiersdorf

Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.

Hewlett-Packard

Hewlett-Packard

Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.