Luxury accounts up 60 pct

Wealthy investors and institutional clients increased by 60 percent up to 43.8 million lei their money placed in individual mutual fund managed accounts.
‘The largest account we have managed belongs to an institutional client and is worth about 2 million euros,” the Ziarul financ iar daily quotes Raiffeisen Asset Management president Mihail Ion as saying.

The Company manages accounts worth 22.6 million lei belonging to the institutional clients as well as to the insurance companies and the pension funds.

The individual investment accounts particularly target people owning much money. The money, one has to deposit in order to open such an account ranges between 100,000 lei and 400,000 lei.

The investors in the individual account benefit from the flexibility and the personalization of their investments for a yearly management commission of 2-3 percent.

There are clients who open an account by 2 million lei and withdraw money every month, or clients who invest in the account monthly, said Aviva Investors investment manager Razvan Rusu, whose company manages accounts worth 14 million lei.

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