Top fund managers in November

5. OTP Asset Management

OTP Asset Management had 115.7 million lei assets under custody in November, 0.87% more than a month earlier, according to data provided by the Fund Managers Association (AAF).

OTP AM’s open-end funds had 102.2 million lei under management, while closed-end investment schemes’ assets grew 3% to 12.6 million lei.

In December, OTP successfully completed the initial public offering of the second closed-end fund due to be listed at the Bucharest Stock Exchange – OTP Green Energy.

The asset management firm also holds wrap accounts of 0.4 million lei. The aggregate market share stood at 3.5% in November, 18 percent more than a month earlier.

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4. BT Asset Management

Banca Transilvania’s asset management division, BT AM, reported a 7.13% growth in assets under custody in November, to 168.1 million lei and takes fourth spot in AAF’s top five fund managers list.

BT Asset Manangement’s closed-end funds gained favor among investors in November, with 9% growth in assets to 15.9 million lei, while open-end funds’ total rose 7% month-on-month to 149.8 million lei.

In November, the company had 2.3 million lei in wrap accounts.

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3. BRD Asset Management

The four open-end investment schemes of BRD Asset Management had 280.4 million lei assets under management in November, up marginally from October.

BRD Societe Generale’s asset management unit grabbed a market share of 8.6% in the trailing month.

BRD AM doesn’t hold wrap accounts or closed-end investment schemes.

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2. Raiffeisen Asset Management

Raiffeisen Asset Management retained its second position in November, with total assets under custody of 896.4 million lei.

Open-end funds have drawn the greatest interest in November, as total assets under management increased 27% up to 829.8 million lei.

Raiffeisen Asset Manangement launched in November the first investment fund in Romania with an asset allocation algorithm that picks the asset mix with euro-denominated interest and attracted €50 million in the first six weeks.

Closed-end funds’ assets grew 2% to 40 million lei, while wrap accounts’ assets increased 4.3% to 26.5 million lei.

RAM’s market share increased 12 percent in November to 27.5%.

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1. Erste Asset Management

After the acquisition of BCR Asset Management, Erste AM retains its top spot as the biggest fund manager in November, with total assets of 1.427 billion lei.

Closed-end investment funds have been the most popular in November, with 10% growth in assets under custody up to 1.42 billion lei.

Assets in wrap accounts grew 11% in the trailing month to 3.2 million lei.

However, Erste’s market share fell 11% to 43.8%.

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