EUROPE - BNP Paribas Asset Management has wheeled out an addition to its Luxembourg-based umbrella, Parvest.
The new subfund, Parvest World Financials, focuses on investments in banking, financial and insurance stocks
BNP said the fund takes substantial leverage off, among other things, the size of the investment universe and the anticipated growth in personal pension funds in many European countries.
The Parvest fund was created in 1990 and now has 78 subfunds covering all major asset classes and markets with an international distribution network covering 22 countries.
Parvest World Financials invests with a view to medium-term growth, principally in shares, convertible bonds, subscription rights, investment certificates and equity or similar warrants.
The recommended investment horizon is a minimum of five years.
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