The listing on the Bucharest Stock Exchange of two ETFs launched by InterCapital is a confirmation of the maturity and increasing dynamics of our capital market, which is diversifying its portfolio and opening up more and more to the region and sophisticated investors, according to the president of the Financial Oversight Authority (ASF), Alexandru Petrescu.
"I welcome the listing on the Bucharest Stock Exchange (BVB)of two ETFs launched by InterCapital, a confirmation of the maturity and growing dynamics of Romania's capital market, which is diversifying its portfolio and opening up more and more to the region and sophisticated investors. The two ETFs, one that tracks the CROBEX index of the Croatian Stock Exchange, and the other that reflects the performance of Romanian government bonds denominated in euros, represent an approach that supports a more accessible, more connected and more relevant market at regional level," wrote the ASF president.
He said that ASF supports these developments, taking an active role as a facilitator of innovation, beyond the traditional one of supervisor.
According to a press release posted on the BVB website, InterCapital CROBEX10tr UCITS ETF, replicating CROBEX10tr index, reflects the performance of the 10 most liquid shares on the Zagreb Stock Exchange, including the reinvestment of dividends. Updated composition of the index can be seen at any time here. The ETF has been listed on Zagreb Stock Exchange since November 2020, delivered a return of 155% in euros in under five years, equivalent to a 21% annualized return. The fund currently holds approximately EUR 14 million in assets and has over 900 investors.
InterCapital EUR ROMANIA GOVT BOND 5-10yr UCITS ETF tracks euro-denominated bonds issued by the Government of Romania, with the average maturity between 5 and 10 years. It is an actively managed ETF; therefore, it has no benchmark. According to ICETF, Romania's 10-year euro bonds yield about 5.7%, well above similarly rated peers like Hungary and Serbia at 4.0-4.5%, while the spread over Germany remains wide at roughly 3.3%, versus less than 1% in Croatia, creating room for convergence and potential capital gains on top of coupon returns. The InterCapital EUR Romania Govt Bond 5-10yr UCITS ETF was first listed in Zagreb in May 2024 and has already attracted over 100 investors with approximately EUR 0.8 million in assets.
InterCapital ETF (ICETF), part of InterCapital ETF (ICETF), part of InterCapital Group, leading provider of investment services in the Southeast Europe on Tuesday listed two ETFs (Exchange Traded Funds) on the Main Market of the Bucharest Stock Exchange (BVB).
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