Fund "KD Exclusive" to merge with fund "Triumph"

Investment fund management company "Citadel" has been given the consent by the Securities Commission for the merger of fund "KD Exclusive" and fund "Triumph".

According to the plan of "Citadel", the merger of investment funds will be carried out on February 11th.

"KD Eksluziv", the open-ended property growth fund run by the namesake Belgrade-based company, will cease to exist upon the merger.

That fund will transfer whole property and all obligations to open-ended fund "Triumph", while the members of "KD Ekskluziv" will become the members of fund "Triumph".

The investment aim of "Triumph", as people from that property growth fund announced, will remain the same after the merger with "KD Ekskluziv", and that is high level of returns on invested funds, that is, high level of growth of net property and value of investment unit.

The decision on merger was preceded by the analysis of economic justification that showed that the merger of funds was in the best interest of the investors of both funds.

In addition, the merger will contribute to increase in the profitability of the fund created through the merger since overal fixed costs will be reduced.

"Citadel", a part of international finance group "Citadel Asset Management", manages four funds in Serbia - "Triumph", growth fund "Focus premium", property preservation fund "Focus cash fund" and closed-ended investment fund "Triumph Elite".

There are 14 open-ended investment funds in Serbian market, 8 of which are property growth funds, 3 funds are property preservation funds, and 3 funds are balanced funds.