InterCapital Asset Management, Croatia’s largest independent asset manager with EUR 500 million in assets under management, and Investimental, the newest broker on the Romanian capital market, announced the launch of a new Exchange Traded Fund (ETF) tracking the BET- TRN index. 

The newest ETF on the local capital market will start trading on the Bucharest Stock Exchange on May 29 with the symbol ICBETNETF. 

“We are thrilled to introduce a new ETF on the Bucharest Stock Exchange, making exposure to one of the region’s best-performing stock indices accessible to the general public. The Romanian capital market has seen stellar growth over the past 15 years since we began investing directly via our funds in local companies,” said Ivan Kurtovic, Chairman of the Management Board at InterCapital Asset Management. 

“As of May 29, we will further invigorate this vibrant market by providing an accessible way for retail investors to gain fast and accessible exposure to the most liquid and dynamic companies. Moreover, we are proud that this ETF is the first on the Bucharest Stock Exchange that is also tradable on other exchanges, in Zagreb and Ljubljana, thereby fulfilling our promise to promote the Romanian capital market internationally,” he added.

The new ETF will track the performance of the BET-TRN index, which includes 20 Romanian blue-chip companies such as Banca Transilvania, Hidroelectrica, OMV Petrom, and DIGI Communications.

BET-TRN stands for “Total Return Net,” meaning that the index reflects not only the price movements of the blue chips but also includes net dividends that are reinvested. Consequently, dividends received will be automatically reinvested in the stocks that paid them. 

The price of one fund unit on the first day of trading, May 29, will be around RON 70. For comparison, the estimated cost of replicating the BET index by a retail investor is approximately RON 21,500, excluding trading fees. 

radu@romania-insider.com

(Photo source: the company)