OREANDA-NEWS. On October 15, 2007 Parex Asset Management (PAM), the investment management arm of Parex banka has registered Parex Caspian Sea Equity fund for distribution in Germany. This fund is the second Latvian investment fund in Germany, reported the press-centre of Parex Asset Management

On October 2, 2007 the German Financial Supervisory Authority has registered the Parex Caspian Sea Equity fund for public distribution in Germany.

Mr. Robert Idelson, the President of Parex Asset Management, said: “The interest of international investors to the equities of companies based in Asia is steadily increasing. Parex Caspian Sea Equity fund is one of the first investment products, that offers access to the equities of companies rapidly developing in this region. We hope that the long term experience of Parex Asset Management in the Caspian Sea region will be highly valued by investors in Germany.”

Parex Caspian Sea Equity fund was registered on February 14, 2007. Since inception, the assets of the Fund have increased up to EUR 17,6 mln. The objective of the fund is to achieve long-term capital growth by investing in a diversified portfolio of equity securities located in or exposed to growth in the rapidly growing Caspian Sea region. The investment certificates of Parex Caspian Sea Equity fund are listed on the Riga Stock Exchange.