Bancpost enters funds market

Eurobank Mutual Funds Management Romania, the investment management arm of Greek bank Eurobank, will launch two mutual funds. Eurobank is the majority shareholder of Bancpost. The manager has already received authorisation from CNVM (National Securities Commission) for the two funds. The fund units issued by the two funds, Bancpost Active Balanced and Bancpost Plus, will be distributed through the Bancpost network. “The two funds are a monetary one and a diversified one,” said Dan Stister, manager of Eurobank Mutual Funds Management. He offered no other information related to the two funds. Bancpost is the fifth banking group to enter the mutual funds market. In late 2005, this market was worth almost 90 million euros. ZF