May 31, 2017
ADVANCED announces the start of its placement period for its Closed Fund of Society Development
The Fund will work as a financing source for productive companies in the country.
Advanced Asset Management (AAM), an Administrative Society for Investment Funds announced today the start of the placement period for its Closed Fund of Society Development (CFSD) through the Dominican Stock Exchange.
The Advanced Opportunities Investment Fund targets professional investors with high tolerance for risk, them being legal people, locals, or coming from outside the country, with a long term investment horizon. The fund was approved for Two Thousand Five Hundred Million Dominican Pesos (RD$2,500,000,000.00) with a nominal value of each quote of One Million Dominican Pesos (RD$1,000,000.00). The Fund possesses a ten (10) year expiration period after the start date.
Felipe Amador, AAM’s General Director, explained that the Fund’s BBB classification by Feller Rate Dominicana indicates that its quotes count with enough loss protection, while seeking to complement and strengthen the actual offer of financing access by the Dominican Companies.
“The Fund has as its objective to support through debt and/or capital investments a select group of Dominican Companies that are looking to accelerate their growth plans for medium and long term”, he said.
For his part, Hamlet Hermann Morena, General Manager for the Dominican Stock Exchange, confirmed that “The participation for new issuers such as AAM is evidence that the Dominican Stock Market is growing. This type of issuer is an opportunity for investors that dispose a new instrument, and at the same time for companies that the fund invests in means a new financing source for them. Our market is equipped with options that represent benefits for the different participants that interact in it.
The issue amount is up to Five Hundred Million Dominican Pesos (RD$500,000,000.00), divided in Five Hundred (500) quotes of participation, which can be acquired through the Placement Agents CCI Puesto de Bolsa, Excel Puesto de Bolsa, Vertex Valores or through any stock intermediary registered in the Stock Exchange and authorized by the Stock Superintendence.