Charis Kynigou: “AstroBank is breaking new ground with the Target Maturity Fund”

The Head of AstroBank’s Private Banking, Treasury & ESG Division, Charis Kynigou, recently explained more about the bank’s new Target Maturity Fund.

“AstroBank is breaking new ground with the AstroBank Target Maturity Fund,” she told CBN.

Kynigou elaborated, “This is an innovative investment product offered in Cyprus for the first time with the aim of providing an alternative to investors seeking to capitalize on high interest rates for the next three years, even if the ECB starts lowering its basic rate.”

As noted by Kynigou, “This mutual fund enables investors to access a diversified portfolio of corporate and government bonds with little capital, starting at €20,000, and enjoy a regular income. The dividend is estimated at 3.50% on an annualized basis.”

It is worth noting that the product also includes the involvement of Cyprus-based international fund manager GMM Global Money Managers.

Kynigou explained that the AstroBank Target Maturity Fund 2027 is managed by GMM Global Money Managers, which, she noted, is a licensed fund management company supervised by CySEC. “AstroΒank is a member of the Investment committee of the fund,” she added.

As noted in the bank’s information pack on the new product, potential investors should be aware that AstroBank Target Maturity Fund 2027 aims to preserve the original capital, provided no negative credit event occurs.

Upon maturity, which is set for June 2027, the fund will be liquidated, and the proceeds will be distributed to the investors.

Potential investors should also note that undertaking for collective investment in transferable securities (UCITS) such as the AstroBank Target Maturity Fund do not have a guaranteed return and past performance does not guarantee future returns. UCITS are also be subject to directive 2009/65/EC, AstroBank underlines.