OREANDA-NEWS. April 09, 2010. On 14 April 2010, a new interval of the mutual fund “Serebraniy Bor – precious metals” opens under the management of Asset Management Company of the Bank of Moscow (AMC of the Bank of Moscow).

The fund was esteblished in April 2009 to provide clients of AMC of the Bank of Moscow with an opportunity to invest in precious metals: gold, silver, platinum and palladium. The price of a share in the mutual fund “Serebraniy Bor – precious metals” as of 1 April 2010 stood at 1116.78 rubles.

“From its inception, the fund’s yield as of the beginning of April 2010 was in the order of 32% in US dollars. At the same time, in spite of the more than 10% strengthening of the ruble over the last year in relation to the US dollar, the fund managed to demonstrate its viability and showed a ruble yield of about 16%” noted Vladimir Vedeneev, Director of the Asset Management Department of AMC of the Bank of Moscow.

The commodity market fund “Serebraniy Bor – precious metals” enjoys a number of advantages over other instruments and forms of investment, namely:

- given the current drop in interest rates on bank deposits, investment in the fund is an additional opportunity to diversify personal capital for the purpose of maintaining and growing funds;
the fund’s assets are not placed on the stock market;
there is no bank commission charged on sale/purchase of metals by opening bullion accounts;
there are no supplementary costs in the form of VAT on purchase of precious metal ingots;
the fund’s assets are diversified between different metals: gold, silver, platinum and palladium.

“As for the further prospects on the precious metals market, after our expectations were fulfilled of a rally in industrial metals of the platinum group and silver, we anticipate continued growth in the value of gold, which makes up about 50% of the “Serebraniy Bor – precious metals” fund portfolio . The rise in the price of gold will result from two key factors – a high investment demand on the part of the Asian economies, above all China, and a sharp drop in the supply of gold from world Central Banks and the IMF in connection with the revival of the global economy”, says Vladimir Vedeneev, Director of the Asset Management Department of AMC of the Bank of Moscow.

The price of an investment share at which calculations will be made at the end of the interval for pay out and redemption of shares in the mutual fund “Serebraniy Bor – precious metals” will be determined as of the last day of the interval – 27 April 2010.

Shares in the fund may be bought and sold at agency points for operations with investment shares of AMC of the Bank of Moscow throughout Russia. Payment may also be made for shares (provided a purchase application has been submitted) through all Bank of Moscow ATMs. Payment is made in rubles.

Shares in the mutual fund “Serebraniy Bor – precious metals” may be acquired for the following time intervals:
from 14 through 27 April;
from 14 through 27 July;
from 14 through 27 October;
from 14 through 27 January.