Aviva is acting quickly on the back of the expansion of the EU by registering most of its Luxembourg...
Aviva is acting quickly on the back of the expansion of the EU by registering most of its Luxembourg-based fund range for sale in the Czech Republic.
The Aviva Funds range includes the European Convergence Equity Fund, managed by Morley Fund Management. This fund invests in the countries that have been approved to accede to EU membership and up to 20% of its assets in Western European companies with exposure to the EU accession countries. Other funds registered in the Czech Republic include the USD Reserve Fund; Global Balanced Fund; American Equity Fund; and the Spanish Equity Fund.
Robert Woolf, head of European sales for Aviva Funds, said: "The Czech Republic offers many exciting distribution possibilities as it prepares for accession to the European Union. It is a market that has been a focus for many financial institutions, both from Europe and the US over recent years. This marks an initial success in our strategy to broaden the distribution of Aviva Funds in the EU accession countries."
The Czech Republic has also a high level of savings as well as a long history of distribution of foreign funds in the region.
Aviva Funds has appointed Ceska Sporitelna as paying agent and contact bank in the Czech Republic on behalf of the Sicav. It has also signed a further agreement with Ceska appointing them to act as distributor of Aviva Funds Sicav in the country.
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