WIOF Greece – Cyprus Opportunities Fund, hit a new high of 68.38% growth,as its fund retail shares peaked at over the €5 mark per share.

Excitement mounted on Friday as the consistently high performing WIOFGreece – Cyprus Opportunities Fund, hit a new high of 68.38% growth, as itsfund retail shares peaked at over the €5 mark per share.

As one of the World Investment Opportunities Fund group of 36 managed funds,the Greece – Cyprus Opportunities Fund is relatively new. Managed by LaikiAsset Management in Cyprus, the fund was originally set up in April2006. Following its launch share price of €3, the fund has continued toperform consistently well, earning itself the accolade of WIOF’s‘lone-star’ fund as it regularly out-performs its benchmark projection, 42%at Q107.

Portfolio Manager, Marios Demetriades, commented that whilst theGreece-Cyprus Opportunities Fund has always performed well, this new all highshare price is indicative of several factors – ‘contrary to the worldmarkets, Cyprus investments performed really well in June. In addition,corporate developments in some of the funds’ investments and increasedinterest from foreign investors in the Cyprus markets, have all led to this newshare price high.’ Asked if this performance is sustainable, Demetriadesreplied ‘we expect the Cyprus market to continue to perform well as it isstill undervalued…the Greek market has underperformed the rest of the Europeanmarkets…so I expect it to catch up.’

However, Demetriades cautioned that whilst the fund performance is notdirectly related to the world markets generally, a significant correctionworldwide would eventually affect the Greece-Cyprus Opportunities Fund. In themeantime, fund retail share growth of 68.38% against a benchmark of 48.97% showsa solid bullish performance.