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Popular Bank to Distribute Fidelity Funds in Mid-East/Africa

Tax-news.com

19 September 1999


At a press conference in Cyprus last week, Executive Chairman of Popular Bank, Kikis Lazarides and Executive Director of Fidelity Investments, Martin Cambridge, announced the launch of two new Luxembourg-based sector funds which would be distributed in a number of Mediterranean, Mid-Eastern and African countries by Popular Bank. The funds would specialise in technology and telecommunications and would be distributed globally. Fidelity currently has 39 sector funds in the US, of which 8 are in these two sectors; the new launch reflects a trend towards globally-distributed funds. In Cyprus, only offshore companies and expatriate individuals will be able to invest in the funds.

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