The investment fund industry has 100,000 new investors in September 2021 compared to September 2020 and 52.9 billion lei under management, representing 4.6% of Romania's GDP, the president of the Association of Fund Administrators (AAF) , Horia Gusta. “We have 52.9 billion lei under management, in industry at the end of September. We have 100,000 investors more in September 2021 compared to September 2020. What we like more is that industry grew last year by 24% and investors in share funds grew by 100%. While last year we had 16,337 investors in share funds, today we have 33,111, which probably shows that these figures are determined by the stock market evolution in general and the evolution of stock issuers in particular. There are more factors which showed these increases: the very good fund profitability,”Horia Gusta said at the conference devoted to the stock market I Romania and organized by Oxygen Events. Gusta added that in Romania, industry could represent at least 10% of GDP in the near future if the growth rate is maintained. “From data we have the share of stock in industry management is 4.6% of GDP. Unfortunately, if we look at Europe we are one but last, before Bulgaria. In Croatia, the asset management industry represents 7% of GPD, in Czech Republic it is 7.9% of GDP, in Hungary it is 15%, France 95% and German 81%. It depends on us how we succeed to explain to the people what these investment funds do, how easily they are accessed,” Horia Gusta said.
Moldovan carrier Flyone will add a route between Bucharest and Munich starting in October. The flights to Munich will be operated on Mondays, Wednesdays, and Fridays. This adds to the flights it has connecting the Romanian capital to Tel Aviv, Brussels, and Verona. With these routes, the airline is responding to the constant demand from […]
Romanian electricity distributor and supplier Electrica listed the largest issue of green, corporate, and non-financial bonds on the Romanian capital market, reaching a total value of EUR 500 million, on July 30. The bonds, with the stock symbol EL30E, are registered, non-convertible, unsecured, denominated in euro, have a nominal value of EUR 1,000 each, and […]
Dracula Film Festival, the event dedicated to horror and fantasy film, has opened the call for entries in its four competition sections. The festival runs four competition: Dracula Trophy, an international feature film competition; Little Dracula, an international short film competition; Vladutz, a Romanian short film competition; and Dracula Digital, a competition dedicated to young […]
Investment firm Mozaik Investments has acquired a majority stake in Genesis College, a large private educational institution in Bucharest. After receiving all approvals, Mozaik will provide growth capital to accelerate the development of the educational network through investments in new campuses and the expansion of schooling capacity, as well as the development of the International […]
The Romanian investment fund market has surpassed the threshold of one million investors. Moreover, the net assets of the 248 open-ended and closed-ended funds reached RON 51.8 billion (EUR 10.2 billion) in June, according to data from the Romanian Fund Managers Association, or AAF. Specifically, 1,007,481 people in Romania had money in the local and […]
Local authorities in Hunedoara announced investments worth RON 200 million for the King’s Road, which connects the spa resort Vața de Jos, in Hunedoara County, and the Royal Castle at Săvârșin. The road was built in the post-war period by order of King Michael I of Romania and was paved with cobblestone. Now, the authorities […]
