Pioneer Investments Launches New EMEA Fund; Target Capital At EUR500M

05.03.2011 By Florentina Dragu

Pioneer Investments Luxemburg, the asset management unit of Italy’s top lender UniCredit, announced the launch of a new euro-denominated fund for emerging markets aimed to attract between EUR300 million and EUR500 million from corporate customers.

Investors can buy units in the new Emerging Markets Corporate Bond 2016 fund between April 25 and June 6. In Romania, subscriptions will be handled by UniCredit Tiriac Bank.

The fund, which has a five-year maturity, will be launched June 7. The target dividend is of 4.5% a year and the minimum investment is set at EUR1,000.

"The portfolio will include 70 to 80 bonds with average ratings of BB. A quarter of the bonds will come from investment grade markets, while the remainder from non-investment grade markets," said Florin Dolea, general manager of Pioneer Asset Management.

Dolea estimated Romanian investments in the fund will reach several millions of euros.