OREANDA-NEWS  On 08 September, was announced that, after a survey by magazine Business New 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.