Banca Romana de Dezvoltare - Societe Generale (BRD-SocGen) investments funds in Romania will be administered from the Czech Republic by a company in the Societe Generale group, which will allow for a reduction in costs, said Executive Manager of BRD Financial Markets Department, Claudiu Cercel.

Assets will be administered by IKS KB bank (Investicni kapitalovna spolecnost Komercni Banky) in Prague. BRD Asset Management, Societe Generale's Romanian investment administration division, manages two investment funds, Simfonia 1 and Concerto, whose assets totaled RON 79.2 million (€21.63 mln) at the end of April.

According to data made available by the Romanian Fund Administrator Association (AAF), Simfonia 1 is a monetary investment fund, with assets worth RON 61.3 mln (€16.74 mln), while Concerto is a diversified fund, with RON 16.1 mln (€4.39 mln) in assets at the end of April.

IKB KB administers funds for other Societe Generale companies on emerging markets, such as in Asia. The company managed assets worth some €2.6 billion at the end of April. (NewsIn)