Romanian Open-End Fund Assets Up 23% To RON6.78B In 2011
The combined net assets of Romanian open-end investment funds rose 23% to 6.78 billion lei (EUR1.57 billion) in 2011, from RON5.48 billion a year earlier, the Romanian Association of Asset Managers said Friday.
However, net subscriptions of open-end fund units dropped 50% on the year to RON993 million, data from the Association showed.
The 45 foreign open-end funds distributed on the local market posted aggregate net assets of RON1.19 billion at the end of December.
Raiffeisen Asset Management was top fund manager in 2011, with assets worth RON2.8 billion (19.24% market share), followed by Erste Asset Management, with assets amounting to RON2.78 billion (19.08% market share). (EUR1=RON4.3322)
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Cristina Roșca
