Two big Austrian fund managers call the shots on the mutual fundmarket, with competition between the two becoming increasinglytight, and Raiffeisen Asset Management managing to come very closeto the undisputed leader of the last two years - Erste AssetManagement, because it bet on investors' significant appetite forsavings in euros.
The mutual funds market has reached 5.454 billion RON (1.26billion euros) in assets from over 219,130 new investors at the endof November, according to statistics issued by the RomanianAssociation of Asset Managers (AAF). The 63% rise in net assets andthe 55,000 new investors recorded in the last 11 months were mainlygenerated by managers at Erste Asset Management, market leader with2.3 billion RON in assets and Raiffeisen Asset Management, no. 2,with 1.98 billion RON in assets under management. Morespecifically, BCR Monetar, Raiffeisen Monetar, BCR Obligaţiuni,alongside euro-denominated fund Raiffeisen EuroPlus, attracted over80% of the overall 1.88 billion-RON (440 million-euro) netsubscriptions in 2010.
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