Raiffeisen Asset Management (RAM) investment manager, withassets worth 2.43bn lei (576m euros) under management at the end ofFebruary, climbed onto the leading position in the biggestinvestment fund managers' ranking, after the top position had beenheld by Erste Asset Management for three years.
The domestic investment fund industry held net assets worth6.22bn lei (1.57bn euros) in late February and is dominated bymajor managers, Raiffeisen and Erste, both belonging to Austrianfinancial groups. The two players control 80% of the market, withanother 15 managers sharing the rest of 20%.
However, competition between the two players is very tight:Raiffeisen owns 39.15% in the investment fund market (that includesmutual funds and closed-end investment funds) and Erste 39.12%.
Erste AM remains the leader of the mutual fund market, withassets worth 2.432bn lei under management, closely followed byRaiffeisen with 2.323bn lei.
Starting the second half of last year, RAM strongly stepped upthe asset growth pace, mainly counting on Romanians' appetite forlei and foreign currency saving.
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