“Last year, equity funds in our portfolio accounted for around 1%. There has been a change of attitude in that clients are more interested in higher risk funds. We have over EUR40 million in the first five months and equity funds have come to account for about 6%,” said Neacsu.
Equity funds include the six funds part of You Invest, launched in spring 2014, and Erste Balanced RON and Erste Equity România.
By the end of the year, the company plans to reach EUR120 million in managed assets on the equity fund segment. It currently manages total assets of EUR2 billion.
“The household penetration rate is under 5%. In Sweden, which is the star, the rate is 75%. The average penetration rate in Central Europe is at 15-20%,” said Neacsu.