The market regulator is preparing rules for a new type of short-term investment fund, which will be available before July.
The Superintendency of Securities (Sugeval) in Costa Rica announced that it will add to its portfolio an investment fund focused on very short term securities which are low risk and high liquidity, reported El financierocr.com. This new instrument will be approved in the first half of 2016.
In the last twelve months, the total amount of assets managed by property funds increased by $68 million, to $966 million.
More purchases of new property by managers and revaluations of existing ones partly explain the increase in assets managed by real estate funds in the country, which as of June 13, had a total portfolio of $966 million.
Alvaro Camacho de la O, CEO of BCR Sociedad Administradora de Fondos de Inversión, told Elfinancierocr.com that their portfolios "... increased by $25 million because of acquisitions and capital gains."
Initial expectations for the placement of shares in real estate funds worth $2 million was far surpassed, with a total of $9 million in the first year.
Laprensa.com.ni reports that "... the success of the FII is based on the fact that these pay a better percentage for the investment (from 6.5 to 8 percent a year), much more than is usually paid by the financial system on savings, but also offers fewer levels of risk for investors.
Investment Fund Managers in Costa Rica are looking to market their securities across Central America.
Some of these companies have many years experience in foreign markets and other started this year in 2013. For example the two funds belonging to Improsa SAFI have been authorized in Panama since 2009, while others such as Interbolsa, resumed this year the work of internationalization in all countries.
The $90 million invested in property in 2012 represented an increase of 86% compared with purchases made during 2011.
According to the Superintendency of Securities (Sugeval), until the last half of May this year, real estate portfolios had under their administration $871 million in net assets (including properties and some securities), 7% more than in the same period in 2012.