Certinvest Announces New Closed-End Fund

04.21.2011 By Florentina Dragu

Romanian investment fund manager Certinvest Thursday announced it has launched a private closed-end fund called Absolute Return, which aims to attract up to EUR1.5 million in the next three to four months.

Romanian investment fund manager Certinvest Thursday announced it has launched a private closed-end fund called Absolute Return, which aims to attract up to EUR1.5 million in the next three to four months.

Absolute Return will invest mainly in derivatives, said Horia Gusta, general manager of Certinvest.

"The fund will try to obtain positive yielding, regardless the trend on the stock exchange, while the investments will include derivatives traded mostly on the Romanian market," Gusta told MEDIAFAX.

Aside from Absolute Return, Certinvest manages four other closed-end investment funds and seven open-end funds in Romania.

End-March, Certinvest reported total managed assets of 103.5 million lei (EUR25.3 million).