Four fund managers, a bond management fund delivered by an already active player (a premiere for Romania), a company specialized in portfolio management and internal reorganization. This is the overview of Romania’s asset management market for 2008.
On July 22, CNVM authorized Prime Capital fund, diversified fund with average risk and Prime Speed Capital, share fund with above average risk.
Cosmin Brendea, manager of the fund, told Wall-Street that the company’s target was to reach a 5% share of overall assets administrated on the local asset management market, in 5 years’ time. “As for the assets volume, I believe we will administrate a combined amount of 15 million euros within two years,” the manager explained.
After nearly five years since the launching, Brendea said the year 2008 was a true challenge for Prime Asset Management team, “both in the need of solving technical and logistic problems arisen from the authorization proceedings for the investment management company and for Prime Capital and Prime Speed Capital funds, and also in terms of asset management after the start of the public issuing of the funds in the midst of a bearish stock market and of global crisis that gripped Romania since September 2008”.
Prime Capital is a diversified-average-risk open-ended fund with placements in monetary instruments, bond and shares
Prime Speed Capital is an above-average risk share fund, directed towards equity market. The fund is an investment manager for private investors who prefer more risky speculative placements.
As for mutual funds market in Romania, Cosmin Brendea said it must be seen from the global context of European asset management industry.
“Evolution of the market in July, August and September highlighted that trust is the milestone of collective investment schemes. Panic triggered overly pullbacks in the his
