Merger of the open-ended investment funds "Parex Eastern European Balanced Fund", "Parex Eastern European Bond Fund", "Parex Balanced Fund" un "Parex Eastern European Local Currency Bond Funds” managed by ”Parex Asset Management” IPAS "Parex Asset Management" IPAS announces, that the Board of the Company has taken a decision to merge 4 (four) open-ended investment funds "Parex Eastern European Balanced Fund", "Parex Eastern European Bond Fund", "Parex Balanced Fund" un "Parex Eastern European Local Currency Bond Fund” managed by Company with the intention to enchase the efficiency of Funds performance as well as to optimize Funds administration expenses. On June 19, 2009, Financial and Capital Market Commission has taken a decision to allow the merger of 4 (four) open-ended investment funds (mentioned above) managed by Company into a single open-ended investment fund ”Parex Eastern European Fixed Income Funds” with 2 (two) sub-funds: 1. Sub-fund „Parex Eastern European Bond Fund” will be formed from the current open-ended investment fund „Parex Eastern European Bond Fund”. All Investors will become the Investors of the sub-fund „Parex Eastern European Bond Fund”, retaining the current amount of the investment certificates and the current amount of the investments. The base currency of the sub-fund is USD. 2. Sub-fund ”Parex Eastern European Balanced Fund” will be formed by incorporating open-ended investment funds ”Parex Local Currency Bond Fund” and ”Parex Balanced Fund” (ending existence on the day of merger) in to the open-ended investment fund ”Parex Eastern European Balanced Fund”. All Investors will become the Investors of the sub-fund „Parex Eastern European Balanced Fund” retaining the current amount of the investment certificates and the current amount of the investments. The base currency of the sub-fund is EUR. The decision of Financial and Capital Market Commission to allow the merger of the Funds and to register a new open-ended investment fund will become effective within one month after announcing this decision to the Company, that's on July 20, 2009.
Merger of the open-ended investment funds managed by ”Parex Asset Management” IPAS
| Source: Citadele Asset Management