Raiffeisen Fund Management, the Hungarian-based firm owned by RZB, is transforming its bond fund into a fund of funds so that it can offer the foreign investments that its clients are demanding.

The fund will be split 50:50 between bonds and equities and will initially contain 15 funds, including those managed by ABN Amro, Credit Suisse, Baring, Vontobel, JP Morgan, Pictet and Raiffeisen. This initial fund universe is liable to change over time in line with the funds performance.