KD sets up brokerage firm

The Slovenian group already owns a mutual fund management company and has also announced plans to tap into the life insurance market. “We will focus on large investors rather than retail,” says Ioan Mincu-Raducescu, the chairman of KD Investments. He added that the Slovenian group did not have any other expansion plans for the time being and would be concentrating on brokerage activity, mutual funds and insurance in the near future. The new company will have to buy its trading rights from the Bucharest Stock Exchange, since it will not be a shareholder in this market unlike the older companies on the market. KD is currently trying to develop a distribution network for its own financial products. The largest players on the mutual funds and brokerage market are able to take advantage of the networks belonging to their majority shareholders – banks. ZF