Banking groups topped mutual funds market in 2007

The six asset management companies that are part of banking groups operating on the Romanian market, made up one of the engines for the market growth of mutual funds. In December alone, net assets on the market rose by €11 mln due to capital injected in the five new funds launched on the market by BCR Asset Management, part of Banca Comerciala Romana, the largest local commercial bank. BCR Asset Management is market leader, with a 16.4 percent share.

“The market developed both in terms of volume and in terms of new products and players, although 2007 did not bring the explosive growth we were expecting,” according to the President of Raiffeisen Asset Management, Mihail Ion. Raiffeisen Asset Management launched two new funds on the market last year.

The assets of mutual funds rose by €106.3 mln last year, compared to 2006.