BT Asset Management reports six-fold profit in 2007

Some 65 percent of the company’s income came from own fund placements, which benefited from good stock exchange quotations, especially in the first seven months of 2007.

The company rose six places to second place among Romania’s 14 top asset administration companies.

BT Asset Management’s total administered assets by the end of 2007 amounted to some RON 177 mln (over €53 mln). Over 87 percent of these funds are placements by the three mutual funds - BT Clasic (diversified), BT Maxim and BT Index (shares) - and the closed BT Invest 1 investment fund. The company also administers some 20 individual accounts with assets worth approximately RON 22 mln (€6.5 mln).

General Manager Radu Hanga believes that current market conditions will not affect the progress of projects and that there will be a long-term increase in the funds industry. He added that it is essential for an investor to have a long-term approach, due to the significant potential of Romania’s market.