STK Financial opts for individual accounts

The National Securities Commission (CNVM), has given authorisation to Cluj-based investment manager STK Financial, the fourth investment management company in the city. “We will first enter the market of individual investment management accounts and then launch two equity funds,” says Nicolae Pascu, chairman of the company and one of its shareholders. Pascu was an analyst with another Cluj-based broker, SSIF Broker, until the beginning of this year. STK Financial is the second company to be licensed this year, after BT Asset Management, the investment management company belonging to BT Transilvania. An increasing number of banks have entered this market over the last two years, which, until recently, was made up of independent asset managers. ZF