The mutual fund market has almost come to be equivalent with thenames of the two biggest managers Erste Management and RaiffeisenAsset Management that handle total net assets worth 3.9bn RON,accounting almost 80% in the investment market.
"We want that not only the markets we invest in should seecompetition, but the mutual fund market, as well. While there arejust two forces dominating the fund market at present, I expectcompetition to increase starting next year amid improving stockmarket conditions," said Dragoş Neacşu, chairman of Erste AMmanager with 2.2bn RON assets.
Mihail Ion, chairman of the second biggest manager, adds that whatthe mutual fund market lacks to really witness competition isinvestors' confidence in the economy, in the capital market, butalso in a longer-term investment horizon.
Both admit that a mutual fund market divided among four or fiveplayers is more valuable for investors than a market where twomanagers control 80% of assets and the rest of 17 players share20%.
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