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Bank of Cyprus (BOC), the island’s largest lender, said that its BOC Asset Management (BOCAM) unit launched operations on December 1, with the introduction of a mutual fund. The BOC European Equity Fund of Funds aims to generate high yields in the long run with the management of investment in mutual funds investing in Europe, mainly through capital gains but also with income, Bank of Cyprus said in an emailed statement on Friday.
BOCAM will actively manage the investment of BOC European Equity Fund of Funds via a thorough and strict selection procedure of mutual investment funds investing in securities, mainly in European capital markets.
The bank added that mutual investment funds are an investment option for both institutional and private investors, are highly regulated and considered an effective asset management tool offering investors ‘considerable advantages’.
These advantages include professional investment and portfolio management, immediate liquidity, optimisation of the return-to-risk ratio via wide diversification, relatively low transaction costs, absence of minimum participation requirements, transparency via the daily publication of prices and yields and the daily publication of the net value of the investment, BoC said.
BOCAM is the first Cypriot mutual fund management company approved by both the European Central Bank and the Cyprus Securities and Exchange Committee (CySEC), the bank added.

Source: CyprusMail