RSS
The Romanian market of investment funds, affected by crisis, will resume growth in the second part of the year
The market for investment funds in Eastern Europe, including Romania represents only 1% of the total of European market which at half year surpassed 17 trillion euro, states Thomas Tilley, senior economist with the European Association of the Funds Administrators (EFAMA) whihc mentions that the Romanian market of investment funds, affected by the crisis in the first months of the year, will resume growth in the second half of the year.
‘The industry of investment funds in Romania had a remarkable evolution, surpassing the European average, especially since 2012 with a peak of growth in 2019’ explained Thomas Tilley, senior economist at the European Association of Funds Administrators (EFAMA).
The statements were made during the second edition of the Summit of Funds Administrators in Romania, organised in Bucuresti by the Association of the Funds Administrators (AAF) on 23rd and 24th September 2020.
Member of the EFAMA, AAF gathers 27 members who administer assets of 8.8 billion euro, according to the data centralised at the end of August and counts 332,000 investors in investment funds and 89,000 investors in alternative investment funds.The market of investment funds in Eastern Europe including Romania represents only 1% out of the total of the European market which at half year surpassed 17 trillion euro.
‘The industry of investment funds is an economic engine and has a vital role in the economic development of Romania. The recent promotion at the statute of emerging market places us on the radar of big investors but there is still work to do. We have to activate productiviness and this is what interests you, the industry of asset management: investments, investments, investments’ said Sebastian Burduja, state secretary in the ministry of public finances, preseent at the opening of the event.
Similarly, Radu Hanga, the chairman of the Stock Exchange Bucuresti said that by getting to the statute of emerging market the Stock Exchange took a step forward.
‘If in the area of border markets there are investment funds which manage approximately five billion euro, in the area of emerging markets where our Romanian stock exchange entered, we refer to a volume of 250 billion euro’ Hanga said.
The Association of Funds Administrators (AAF) is a professional non-governmental independent organisation of the operators in the industry of collective investment undertakings (OPC) in Romania. The association gathers 27 members and since 2009 AAF has been a full-fledged member in the European Fund and Asset Management Association (EFAMA).