The fund managed by Invercasa will focus on acquiring both commercial and residential properties, and the minimum stake will be $5,000.
Sociedad Nicaragüense de Inversión, a subsidiary of Invercasa Group, has received authorization from the Superintendency of Banks to begin operating the first real estate investment fund, which buys buildings to generate revenue by renting them out.
An announcement has been made that in April the first short term mutual fund will start operations in the local market, which will require a minimum of $1,000.
Initially the fund administered by Invercasa will be in cordobas and investment in dollars will be enabled later, with a feature that allows for short-term investments.
Emiliano Maranhao, president of Invercasa Sociedad Administradora de Fondos de Inversión, said "...We expect yields of 2% higher than the average percentage, for example, than what is paid on savings accounts, current accounts do not have interest rates. In this way, 15% of total deposits in the country could be captured, which will favor an industry with strong growth. "