Top funds in this league are two money-market funds, BCR Monetar and Raiffeisen Ron Plus. Raiffeisen Euro Plus euro-denominated money-market fund is also one step away from the first billion lei in assets.
The mutual fund with RON1 billion in assets was just a dream for managers four years ago, when the entire wealth they managed, coming from a number of over 40 mutual funds, did not go beyond RON1 billion.
Today, though, there are three mutual funds that raised over RON1 billion from investors, owing to banks’ aggressive marketing, the record high sums attracted from investors and the high deposit interest rates of the past years.
The three super-funds are BCR Monetar, managed by Erste Asset Management, with assets worth RON1.498 billion, Raiffeisen Ron Plus, managed by Raiffeisen Asset Management, with a RON1.410 billion wealth and BCR Obligatiuni, managed by Erste AM, whose assets just inched up above RON1 billion.
Thus, the three biggest mutual funds in Romania collected together total net assets worth almost RON4 billion (EUR962.3 million). The three super-funds concentrate 60% of the total RON6.6 billion assets of the mutual fund industry.
A fourth fund, Raiffeisen Euro Plus, with net assets of RON924.4 million, is just several millions away from becoming the fourth super-fund on the domestic market. (EUR1=RON4.1566)