Two absorption mergers were already announced last year - BCR Fond de Pensii is to take over the fund managed by Omniasig Pensii, while the Interamerican insurer will absorb the fund managed by Bancpost Fond de Pensii. “The market will remain with some 10 players. However, I am not sure if all mergers are to be concluded in 2009, because proceedings take time,” the CEO of fund manager BCR Administrare Fond de Pensii, Simona Ditescu, told Business Standard.
The trends on the market are somewhat at odds, according to the General Manager of ING Fond de Pensii fund administrator, Emilia Bunea. On the one hand, we are talking about more rapid consolidation, while on the other buyers are very careful about the way they use liquidities. It is obvious that, amid these difficult conditions, survival becomes increasingly challenging for small funds,” Bunea added.
Market sources say two new mergers could be announced shortly. Funds eyed by large players are managed by KD Fond de Pensii and OTP Fond de Pensii.
