Tudorescu, Explore Asset: Actual context of the capital market calls for personalized management of assets

Asset management is now a very much solicited product on the investment services in Romania. From this standpoint, former chief-analyst with Vanguard, Cristian Tudorescu unveils, in premiere for Romania, Explore Asset Management, an investment management which, at least for start, will provide customized management of the account.

Tudorescu eyes a 5% market share in the following years

After nearly one year since the beginning of the project and five months since the submission of the file to CNVM, last Wednesday, the Commission authorized the functioning of the asset management company launched by Cristian Tudorescu together with his partners.

He stated in an interview for Wall-Street, that for start, the company would focus on managing the individual portfolios. “We will start with personalized management, as the service market lacks in products of this type. Given the current context of the market, one-on-one approach is more direct,” Tudorescu explained.

The company’s objective is to pass under its company management funds worth 7 million euros in first year of activity. “We forecast 1-2 million euros to pass under our administration in first weeks”, the manager added.

On medium term, Explore aims at achieving 5% market share in asset management segment in Romania.

“We had not started with an investment fund, because many of our clients demanded for customized approach, and without a back-up of a market trend, it would have been impossible to target an impersonal public”, Cristian Tudorescu said. He estimates that within approximately one year, Explore’s Asset’s first fund is likely to be launched, whereas this might be influenced by the conditions of the financial market.

As for competition, Tudorescu added that most administrators in Romania, that don’t belong to any banking group, are seen as direct competitors. “We are positioned as the first company to focus on individual accounts. However, all companies of this kind have the investment funds as image and product vector”, he mentioned.

Separately managed accounts is an investment account that includes shares, bonds, deposits, cash and other instruments designed to be framed within specific investment objectives.

“When the client comes to us, we will make a risk profile, given the incomes, payment history, his expectations and background. The profile is eligible to pose restrictions according to the risk he takes, and we will direct the investments to products that will fit his needs,” Tudorescu explained.

Cristian Tudorescu explained that he came up with this idea from the market’s urgent need of asset management. “If several years ago, many would have said no, saying they can invest on their own, asset management is now more and more solicited”.

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