Acquisition of KYPROU ASSET MANAGEMENT M.F.M.C. by ALPHA TRUST
Acquisition of « KYPROU ASSET MANAGEMENT M.F.M.C.» by ALPHA TRUST
ALPHA TRUST Investment Services S.A. ("ALPHA TRUST") announces that on 18 July 2013 the company entered into an agreement for the acquisition of 100 percent of KYPROU ASSET MANAGEMENT M.F.M.C..
Kyprou Asset Management M.F.M.C. was established in 1998 and is a subsidiary of the Bank of Cyprus Group. The company manages segregated accounts and seven mutual funds and has received over time important distinctions for its performance in different categories of funds.
The transaction will be effected through ALPHA TRUST Mutual Fund Management S.A. which is a wholly owned subsidiary of ALPHA TRUST.
With this acquisition, ALPHA TRUST increases its assets under management in segregated accounts and mutual funds by €33 million and the assets of foreign UCITS represented by the company in the local market by €80 million, based on data, as at 30 June 2013.
The transaction leads to economies of scale, which are expected to have a positive impact on the company's results over the medium term.
The transaction is subject to approval by the competent authorities and the relevant procedures are expected to be completed by 30 September 2013.
ALPHA TRUST welcomes the company’s clients, business partners, and employees to its organisation.
ALPHA TRUST INVESTMENT SERVICES S.A. is today the oldest and the largest independent investment services firm domiciled in Greece. The company is dedicated to the provision of top quality asset management services to both private and institutional investors. With a history of over 25 years, the company is distinguished for its consistency, innovation, and excellence.