Croatian independent asset manager launches the first ETF on BVB

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InterCapital Asset Management, Croatia’s largest independent asset manager overseeing EUR 500 million in assets, debuts the first ETF (Exchange Traded Fund) on the Bucharest Stock Exchange today, May 29. The ETF tracks the performance of the BET-TRN index, reflecting the price evolution of major Romanian companies listed on the stock exchange, alongside the reinvestment of net dividends. Named InterCapital BET-TRN UCITS ETF, it trades under the stock ticker ICBETNETF on the BVB, starting at RON 74.63 per fund unit.

“We have more and more investors at the Bucharest Stock Exchange, and the local capital market offers them more and more opportunities to diversify their portfolio, from shares, bonds, structured products, to ETFs. Both the increase in the number of retail investors and the net assets of the funds that invest on the BVB have generated, since the beginning of the year, an increase in the stock market capitalization up to RON 356 bn. Investor appetite for trading listed fund units has increased in recent years. Starting today, they have access to a new investable instrument through which they can access the performance of the 20 most important companies listed on the BVB. We are happy to be partners with the InterCapital Asset Management that created this tradable investment fund, now available on three markets in the region: Bucharest, Zagreb and Ljubljana”, said Adrian Tanase, Bucharest Stock Exchange CEO.

“We are thrilled to announce the launch of our first product tradeable on the Bucharest Stock Exchange: a new ETF designed to offer unique opportunities to both retail and institutional investors. At InterCapital, we want to contribute to the internationalization of the Romanian capital market. The BET-TRN ETF, now tradeable on Bucharest, Zagreb and Ljubljana Stock Exchanges, marks a significant step in this direction especially since this is the very first listing of a foreign fund on the Bucharest Stock Exchange. To mark our entry to the Romanian capital market, we will be waiving the management fee for our ETF across all three markets. This fee, already the lowest in the market, will be lifted until July 31st, further promoting this product to local investors. Looking ahead, we are committed to continuous innovation and are excited to announce the introduction of new products on BVB.  We believe that our dedication, combined with the outstanding performance of the Romanian capital market, will benefit all market participants by driving competitiveness locally and, more importantly, providing the global investment community with greater exposure to this top-performing market”, said Ivan Kurtovic, Chairman of the Management Board, InterCapital Asset Management.

InterCapital BET-TRN UCITS ETF tracks the performance of the BET-TRN index, the total net return variant of the BET index, which includes 20 Romanian blue-chip companies: Banca Transilvania, OMV Petrom, Hidroelectrica, Romgaz, BRD-Groupe Societe Generale, Nuclearelectrica , DIGI Communications, Electrica, Transgaz, MedLife, Fondul Proprietatea, One United Properties, Transport Trade Services, Transelectrica, Teraplast, Aquila Part Prod Com, Sphera Franchise Group, Bursa de Valori Bucuresti, Purcari Wineries and Conpet. The BET-TRN index was launched in October 2021 and since then rose by 61% increase to 37,015 points.

The listing of InterCapital BET-TRN UCITS ETF was carried out with the support of Investimental, the newest broker on the Romanian capital market, which also acts as Market Maker of the ETF.

“Since the launch of Investimental a year ago, we have prioritized innovation as a key differentiator in the Romanian capital market. We are thrilled to partner with InterCapital Asset Management and the Bucharest Stock Exchange to introduce a new, affordable, and easy-to-understand investment product. This ETF is an extraordinary tool for everyone, offering a competitive price and diversification across Romania’s top 20 listed companies. It provides a simple and efficient way for investors, particularly those without the experience or resources, to navigate the complexities of the capital market. Our vision is to be the leading broker on the Romanian capital market, and democratizing access to local capital opportunities is a key pillar in achieving this goal”, said Mihaela Bîciu, Investimental CEO.

The current assets under management of InterCapital BET-TRN UCITS ETF exceeded EUR 8mn, since InterCapital Asset Management launched the ETF on the BET-TRN index in the region. Investors from Croatia and Slovenia have access to the performance of companies on the Romanian capital market from May 2023 and, respectively, from January 2024, when InterCapital Asset Management listed the ETF tracking the BET-TRN index on those markets.

InterCapital BET-TRN UCITS ETF is the third ETF available for investors on the Bucharest Stock Exchange, alongside an ETF that tracks the BET index and a sectorial ETF, which tracks the BET-NG index which is dedicated to the energy and related utilities sector.

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