Czech Republic

Project number:


Business sector:

Insurance, Pension, Mutual Funds

Notice type:


Environmental category:


Approval date:

21 Oct 1997



PSD disclosed:

22 Sep 1997


Project Description

The EBRD will invest CZK 186 million and CZK 159 million in Sporobond and Sporotrend respectively, two mutual funds which SIS will launch by the end of 1998. The two funds will target domestic retail and corporate investors interested in diversifying their savings and cash management. The new funds will belong to a new family of mutual fund products launched by SIS with low overall fees and which allow easy switching between the funds.

The project will support the introduction of new mutual funds products in the Czech market with completely unique characteristics compared with other mutual funds now available. The idea of different mutual funds, with high liquidity features, linked to Giro accounts and offered in competition to deposits will stimulate competition within the banking sector and offer new alternatives to retail and corporate customers.

Transition Impact

By participating in the launch of two new mutual funds, the Bank's investment will help to:

  • introduce domestic-based investment products, which target local rather than foreign investors and stimulate domestic savings;
  • support the development of domestic capital markets; and
  • ensure the application of best practice and EU standards in the field of asset management.

The Client

SIS will be the investment manager for the two funds. SIS is one of the largest Czech investment managers, with about 19 per cent of the market share in terms of assets managed. Sporobond is a fund which will mainly invest in local government and corporate bonds. Sporotrend will be investing primarily in Czech listed stock and equity-related instruments.

EBRD Finance

CZK 186 million (ECU 5.3 million) in Sporobond and CZK 159 million (ECU 4.5 million) in Sporotrend.

Project Cost

The funds will be open ended so the final size of the project is not known.

Environmental Impact

This financial intermediary project will have no direct impact on the environment. SIS has agreed to carry out its operations in accordance with the EBRD's "Environmental Procedures for Listed Securities" and will submit an annual environmental report to the Bank.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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