Two New Bond-Oriented UCITS to Launch Soon
The Financial Market Council has granted its approval for ATTIJARI PREMIUM SICAV, with an initial capital of 1 MTND, and FIDELITY FCP OBLIGATAIRE, with an initial capital of 0.100 MTND. Both vehicles are capitalization-based, meaning they do not distribute dividends.
The market currently has 124 active UCITS and two in liquidation, bringing the total to 126 collective investment schemes by the end of the year. The net assets stood at 7,044 MTND as of the end of November 2024, an all-time high.
The momentum is ideal for launching bond-oriented vehicles, particularly for managers with a significant client base. The debt market has never been so deep, with at least a quoted offer. There are corporates, such as banks, leasing companies, and microcredit institutions, that present themselves annually on the market. In recent years, the State has also become active in terms of sovereign bonds. We are ending 2024 with an outstanding amount of 13,679 MTND in national bonds, and next year, there will be issuances of at least 4,800 MTND.
Furthermore, creating a new fund with assets exclusively composed of high-yielding papers allows for achieving interesting profitability thresholds, which serve as a marketing tool. The prospects are in favor of a Direct Rate still at 8% for many months to come. It's now or never to launch.
