More aggressive mutual funds

The two leading managers of mutual funds on the Romanian market, BCR”s and BRD”s specialised companies, will launch mutual funds that come with a higher risk degree, in order to diversify their offers, which now only comprise lower risk funds. BCR and BRD are the two largest banks in the system. The higher risk funds, which invest a lot of their assets in shares, used to be managed by smaller companies that hoped to attract investors through higher yields. BCR”s and BRD”s specialised companies have become the largest on the market precisely because of the two big bank names behind them and their extensive distribution networks. The top performing mutual fund this year was Omninvest, managed by SIRA. This fund posted 44% growth in the first ten months of this year, given that it invests most of its money in listed securities. Savings are going down, especially after the sharp decline in interest rates, so that the launch of funds that can provide higher yields is likely to attract investors that are unhappy with the current interest level. ZF