After a 6-month preparation period, the Hungarian Authorities have given green light to the distribution of 10 Parvest sub-funds in Hungary. The registration took place on 11 July 2003. The selection of the registered funds was jointly defined by Private Banking Budapest and Asset Management Vienna which is in charge of distribution of Parvest in Central and Eastern Europe among others.
The selected funds are balanced according to the base currency (5 EURO based and 5 USD based funds) and the risk profile (2 short term, 2 bond, 5 equity, 1 protected sub fund) of funds.
BNP Paribas Group was the second bank to enter the Hungarian market of foreign funds with largest selection of sub-funds. After the registration BNP Paribas Hungária Bank distributes the largest number of investment funds in Hungary (altogether 39 open-ended investment funds; among them 29 are HUF-based). By today BNP Paribas Hungária Bank is the only distribution place, but the negotiations of BNP Paribas Asset Management with retail-based financial suppliers for distribution are already in advanced stage.