Raiffeisen Asset Management 2010 Pretax Pft Triples To RON7M

04.13.2011 By Florentina Dragu

Raiffeisen Asset Management, a unit of Raiffeisen Bank Romania, Wednesday reported pretax profit of 7 million lei (EUR1=RON4.114) for 2010, over threefold higher on the year.

Raiffeisen Asset Management, a unit of Raiffeisen Bank Romania, Wednesday reported pretax profit of 7 million lei (EUR1=RON4.114) for 2010, over threefold higher on the year.

The company posted total revenues of RON21.5 million, more than double on the year.

Raiffeisen Asset Management said overall administrated assets reached RON2.19 billion in 2011, from RON1.06 billion a year earlier.

"The asset growth was supported by our funds that invest in interest-carrying instruments, namely Raiffeisen Monetar (with asset growth of around RON600 million), Raiffeisen Europlus (over RON450 million) and the newly launched fund Raiffeisen Dolar Plus (around RON40 million)," the management firm said in a statement.

Raiffeisen is the second largest investment manager in Romania, after Erste Asset Management, with a 38.49% market share.