Dan Dascăl, CEO of BT Asset Management, told Financial Intelligence on the evolution of investment funds and the capital market in 2024 and 2025:
2024, a very good year for the asset management market
- In Romania, the assets of investment funds have reached record values of more than 26 billion lei, an increase of more than 30%, much higher than the projections at the beginning of the year.
- The macroeconomic context, based on moderate economic growth and falling inflation, with stock markets performing well and interest rates on a downward trend - all this has been favorable for the Romanian investment fund industry.
- 2024 has also been a very good one for BT Asset Management, cumulative assets are heading towards RON 6 billion and we have adjusted to over 250,000 investment accounts, up almost 70% this year. More and more investors are choosing fund-based savings solutions, with many choosing to invest on a recurring monthly basis. The majority of clients still prefer to invest in fixed income funds due to their low risk and steady income, but more and more investors are choosing to invest in equity funds, with index funds and technology funds being the most popular. The reasons are manifold: security, risk diversification and long-term income potential.
- Also in 2024, in October, we acquired OTP Asset Management Romania. It will remain a stand-alone company, part of the Banca Transilvania Group, active in alternative investment fund management. It will have a new brand identity and repositioning in the market through its distinct range of products and services.
- Despite some fluctuations, the Bucharest Stock Exchange showed a moderate upward trend, with sectors performing in certain quarters. Investors were more selective, focusing on companies with solid fundamentals and long-term growth prospects. At the same time, Fidelis government securities, listed on the BVB, were an attractive option for investors due to their safety, competitive yields and affordability.
2025 continues 2024 trends
- The BVB indices have upside potential, but we should not rule out periods of volatility in the context of local and external economic changes. Investors will be paying close attention to the economic measures that will be taken and the monetary policies of central authorities that may influence financial markets.
- We expect government bond issuance for the general public to increase, as they remain a solid choice for investors seeking stability and passive income. We also expect further interesting listings of private companies on the BVB, which can help diversify and develop the capital market.
- Clear regulation and constant dialog with market participants are essential for the sound development of investment funds and the capital market as a whole.
- The asset management industry in Romania has a high potential for growth, the ratio of investment in investment funds to GDP is very low compared to countries in the region. With realistic expectations for the future and a supportive regulatory framework in place, there is significant potential for growth, offering attractive long-term opportunities for investors.