Bucharest, 6 April 2022 - The Financial Supervisory Authority authorized an alternative investment fund, Nova Protect Fond, which addresses certain professional categories with a certain specificity: firefighters, employees of the General Inspectorate for Emergency Situations (IGSU), police officers/employees of the Romanian Police, employees of the Prison Administration, gendarmes employed by the Romanian Gendarmerie, employees of the Local Police and the Border Police, as well as pensioners within these structures who are maximum 55 years old.
Investors, who are part of the aforementioned professional categories, have the right to subscribe monthly shareholdings worth at least Lei 25. In addition, in view of the high degree of risk of the activity carried out by these professional categories, the manager of the alternative investment fund will provide investors with the possibility to benefit, in certain cases and under the conditions set out in the fund documents, from an insurance policy concluded on behalf of investors. Payment of the insured sums to the investors of the fund shall be made by the insurer in the event of the occurrence in the life of the investor of events of the nature of accidents at work, whether or not due to the investor’s own fault, whether or not causing disability or death.
“We have noticed lately an effervescence in the area of investment funds, which demonstrates, along with the increase in the number of companies listed, that the capital market is in an accelerated expansion. The fund we have authorized, which comes with a unique offer, but necessary at the same time, shows us that Romania is gradually aligning itself with the markets that provide institutional or retail investors with products and financial instruments with a higher degree of sophistication, which can contribute to the development and maturation of the domestic capital market”, said Mr. Ovidiu Petru, Director General of the General Directorate – Financial Instruments and Investments Sector.
The fund’s investment strategy aims at making investments in financial instruments traded on the financial markets in Romania, in the European economic area, but also in third countries that are members of the G7, namely Canada, Japan, the United Kingdom and the USA, respecting the investment limits and the investment policy established, according to the legal provisions in the fund’s documents. The maximum exposure achieved by the Fund, by investing on each of the stock exchanges on which it will make investments, may be of maximum 80% of its total assets.
At the same time, the investment policy will be diversified and will pursue investments in the securities market (shares and bonds), but also in bank deposits, money market instruments, as well as in other liquid assets, according to the legal provisions in force.
About the Financial Supervisory Authority
The Financial Supervisory Authority is the national authority, established in 2013 by GEO 93/2012 approved by Law 113/2013, for the regulation and supervision of insurance markets, private pensions, as well as of the capital market. FSA contributes to the consolidation of the integrated operating framework of the three sectors, which has over 10 million participants. More information can be found on www.asfromania.ro.