British group Aviva, one of the world's biggest investment fundmanagers, has lost much of its market share in Romania over thelast three years, and now holds less than 1% of the over 4.3billion-RON assets of the mutual fund industry.
With over 250 billion euros in funds worldwide, the assets managedby British group Aviva on the Romanian market hardly exceed 5million euros. From its entry onto the Romanian market in 2007,when Aviva acquired Certinvest, which managed mutual funds with 15million euros in assets, the market share of the British group onthe Romanian market fell significantly from 5.7% to 0.5% atpresent. During this period, the overall assets of the mutual fundindustry increased over five times to more than 1 billioneuros.
Moreover, the fund manager missed the Stock Exchange rally in 2009,after pursuing a conservative investment strategy. Intercapitalfund, one of the best-performing equity funds in the past, ended2009 with a 12.7% yield, comparable to that of a monetaryfund.
"We were not expecting the stock exchange rally to be so fast. Istill believe it's not based on solid grounds and that it has beenfuelled by the big financial institutions," said Eugen Voicu,chairman of management company Aviva Investors.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
