OREANDA-NEWS. On December 04, 2007 Parex Asset Management (PAM), the investment management arm of Parex banka announced the launch of its new investment fund – Parex Ukrainian Equity Fund, reported the press-centre of Parex Asset Management.

Parex Ukrainian Equity Fund is registered at the Latvian Financial and Capital Markets Commission and its investment certificates are listed on Riga Stock Exchange.

The investment objective of the Fund is to achieve long-term capital growth through investments mainly in listed equity shares of Ukrainian companies or international companies having significant exposure to Ukraine. The Fund's income will be based on the equity price growth and dividend expenses. The Fund follows an active investment strategy, selecting companies with better development potential, taking into account the macroeconomic factors and fundamental performance of each company. The base currency of the Fund is Euro.

The Ukrainian equity market is the best performing equity market in Europe and among the best performers in the world, showing an increase of 130% since the beginning of the year. Among other positive factors are the macroeconomic indicators, the financial performance of individual Ukrainian enterprises, as well as support from pension reform for the local equity market. One of the strongest accelerators of valuation growth for Ukrainian issuers is the significant improvement of corporate governance in the country. Ukrainian companies that currently are at the pre IPO stage also attract considerable interest from investors. The political situation continues to stabilise with the new Government and a stable coalition.

The CEO of Parex Asset Management Robert Idelson: “We hope for exceptionally great investor interest in this fund. It will be managed by a highly professional team of experts from Kiev and Riga, who have extensive experience in the Ukrainian equity market. The Parex Asset Management subsidiary in Ukraine is now the largest open ended fund manager, with a market share of nearly 50% in Ukraine.”

Parex Ukrainian Equity Fund is available for subscription in all Parex banka branches and customer service centres throughout Latvia. Up to the end of year there is an opportunity to purchase fund shares with the discount.