OREANDA-NEWS. On September 22, 2008 Parex Group announced that it has closed a agreement with Raiffeisen Zentralbank Osterreich Aktiengesellschaft (RZB) allowing to access RZB Fund Advisory services. In accordance with the signed agreement providing general dealing, execution and settlement services for securities, the access to the platform will open a universe of more than 13,000 international funds for Parex clients, reported the press-centre of Parex Group.

Mr. Arvids Sipols, Vice President of Capital Markets of Parex banka comments on the closed agreement: “We are proud to be capable to provide extended number of international funds to our clients as by using RZB Fund Advisory platform our clients will command a much broader array of global funds totalling 24 thousand.”

Mr. Robert Idelson, President and CEO of Parex Asset Management, states: “PAM is focused on clients needs and we are commited to providing our clients access to the best investment solutions from leading fund managers. Signing agreement with RZB marks another milestone as we expand number of mutual funds available to our clients to 24,000. We are also excited to have Parex funds available to broad investor base using RZB as a platform to access investment opportunities worldwide.”

RZB is the largest fund trader in Austria with a market share of more than 40 % and has the experience of more than 10 years in that business. Approximately 3 % of the funds offered by the Platform are hedge funds, 30 % - bond funds, including money market funds, and 67% are equity funds.