OREANDA-NEWS. August 25, 2009. The Lithuanian Securities Commission in its meeting approved the setting up of Ukio bankas Investment Opportunities Fund, being the first umbrella collective investment undertaking in Lithuania, to be managed by UAB Ukio banko investiciju valdymas. Ukio bankas Investment Opportunities Fund will comprise Chinese, Russian, US, European and Money Market sub-funds, reported the press-centre of Ukio bankas.

“We are happy to be the first to introduce an umbrella investment fund in Lithuania, providing opportunities for investors to simply, efficiently and rather cheaply invest in interesting and, in our opinion, perspective directions. Investors will be offered to use flexibility in choosing the sub-funds of Ukio bankas Investment Opportunities Fund for their investments. The aim of Ukio bankas Investment Opportunities Fund’s sub-funds is to achieve the greatest possible correlation with the Chinese, Russian, US, European or Money Market Instruments indices,” Julius Ivaska, deputy director of UAB Ukio banko investiciju valdymas, said.

As emphasised by him, the investors of Ukio bankas Investment Opportunities Fund will enjoy additional taxing benefit too as, pursuant to currently applicable legislation, the personal income tax is not applied when exchanging units of one sub-fund for those of another.

The offering of Ukio bankas Investment Opportunities Fund will be launched through Ukio bankas client service network on 15 September 2009. Presently, UAB Ukio banko investiciju valdymas manages globally diversified Ukio bankas Bond Fund and Ukio bankas Rational Investment Fund.