The National Securities Commission (CNVM) approved last week the company’s request for establishing two open investment funds, Raiffeisen Confort and Raiffeisen Romania Actiuni. The company has offered until now more conservative financial products as it has wanted to establish its credibility, the head of Raiffeisen Asset Management, Mihail Ion said.
Raiffeisen Romania Actiuni is an open investment fund that will focus on Romanian shares. Raiffeisen Confort will target real estate investments and securities issued in EU member countries.
Raiffeisen Asset Management, the unit of Raiffeisen Romania in charge of managing investments, was created in December 2005. In June 2006, the company launched two mutual funds. Raiffeisen Bank owned assets totaling 13.8 billion lei (4 billion euros) at the end of 2006 and controlled 8.03 percent of the Romanian banking market, according to data provided by the Central Bank of Romania.
Source: Newsin
