Parex Eastern European Balanced Fund is named The Best Balanced Fund in 2008

After a survey by magazine Business New Europe, defining the Best Funds in Central and Eastern Europe, “Parex Eastern European Balanced Fund” was named the best balanced fund in 2008. This fund had the best performance rating of all the other open ended balanced funds, which took part in the BNE survey.

Nick Watson, the Managing editor of Business New Europe magazine, has commented: "Almost all the balanced funds in our survey were in the minus column during the first-half of the year, whereas Parex Asset Management's Eastern European Balanced Fund showed the highest positive performance earning the title of "BNE 2008 best balanced fund".

“We are very happy with the fact that the results of our hard work were highly evaluated. We have changed the tactical allocation of this fund by decreasing the share of equities in the fund, and thus have achieved a positive performance despite challenging market conditions. “Parex Eastern European Balanced Fund” is one of our most successful products, showing stable yield. Since its inception in 2003, the Fund has brought its investors 6.7% yearly.”- noted Robert Idelson, the CEO of Parex Asset Management.

“Parex Eastern European Balanced Fund” seeks long-term capital appreciation by investing primarily in debt and equity securities issued or guaranteed by governments, municipalities, central banks, credit institutions and companies in Eastern European countries. The Fund is diversified across investments in different currencies and countries to ensure greater investment security and protection against the Fund’s asset value fluctuations associated with investments in securities of a single currency or country. The Fund was launched in October 2003.

Parex Asset Management

With over USD 1.2 billion of assets under management, Parex Asset Management, the subsidiary of Parex banka, is the largest investment company in the Baltic Region and one of the most experienced in the Central and Eastern Europe. PAM invests internationally, maintaining a complete investment product range, whilst constantly tracking the best investment opportunities in each geographic region. Through its subsidiaries and representation offices Parex Asset Management also operates in Lithuania, Russia, Ukraine and Kazakhstan. In 2007 the company was named the “Best European Investment Specialist Firm of the Year” by Funds Europe Magazine

Parex Asset Management Ukraine

Parex Asset Management Ukraine was registered in Ukraine in summer 2004. There are two open-end investment funds under PAM Ukraine management - Parex Ukrainian Balanced Fund and Parex Ukrainian Bond Fund and closed-and investment venture fund “Parex Real Estate Ukraine”, as well as target “turn key” funds. In addition, PAM Ukraine administrates and manages the assets of the open pension fund Universal, Khreshchatik and Bank Forum as well as an open-end pension fund Ukrainian Retirement Union.