The open-end investment fund Raiffeisen Euro Plus attracted net inflows of over €50 million within only six weeks of activity, the biggest share of inflows coming from natural persons, Raiffeisen Asset Management said in a release.]
“Clients’ interest in Raiffeisen Euro Plus is natural, given the fact that euro is the saving currency of choice in Romania, with approximately 40% of Romanians’ savings in the bank system are denominated in euro, notwithstanding the exchange rates”, said Mihail Ion, president of Raiffeisen Asset Management.
For the time being, 50% of the fund’s assets under management are invested in T-notes and fx-denominated state bonds, including the latter two issuing of the Ministry of Finance in November 2009.
“Our asset allocation algorithm picks the asset mix that maximizes the return and performance of the fund and reflects the conservative approach to financial planning”, the president of Raiffeisen Asset Management added.
SAI Raiffeisen Management is the second largest asset management company in Romania, with assets under custody of over 935 million lei.
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