Societe Generale Asset Management, the investment management company of BRD-SocGen, launched a new fund that comes with higher risks than the fund it is already managing, in a bid to consolidate its position on the fund market. SG Asset Management, which manages the Simfonia 1 fund that only makes monetary investments and is the largest on the market, witnessed a significant decline in its market share in 2005 because of the reduction in the yields provided by monetary instruments, and following the entry of new players on the market. At the end of November last year, the company was managing some 27.4% of the assets on the market compared with 48.1% at the end of 2004. "By launching this fund, our goal is to remain market leaders," stated Dan Nicu, the general manager of SG Asset Management. The new fund launched by BRD, Concerto, falls into the medium-risk category, applying, as its managers say, a balanced investment strategy. The assets of the fund will be invested in monetary instruments, bonds and shares listed on the Bucharest Stock Exchange, with shares set to account for up to 30% of the fund''s assets. SG Asset Management hopes this fund will help it attract a new type of investor, those that are willing to take higher chances in order to get better yields than provided by Simfonia 1. ZF
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