Ug Market Optimum Fund Launched

Ug Market Optimum Fund Launched

Ug Market Optimum has started public offering of units. The new fund is of the balanced collective investment scheme type.

“There is a lot of interest in the fund already and I expect it to pass 500,000 leva on the very first day we announced the value of assets (today). When that happens we will also announce redemption prices,” portfolio manager Geno Tonev told

Shares will account for 40% of the fund's portfolio, according to plans. Bonds, including mortgage or other corporate and municipal bonds, as well as government securities will represent 50% of assets.

“Ug Market Optimum is oriented towards investors who want to put their money in funds at a moderate risk and especially towards individual investors,” Tonev added.

In the periods of corrections for capital markets, investors will be looking for low risk assets.

Ug Market Fund Management obtained the FSC's approval to launch the new scheme on February 12.

Ug Market Optimum is the second mutual fund controlled by Ug Market Fund Management. The first one - Ug Market Maximum has attracted more than 700 individual investors, Tonev added.

Ug Market Maximum boasts the highest return in the past 12 months among Bulgarian funds - around 30%.

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