Pioneer Asset Management firm, with net assets worth 17.6m RON(4.3m euros) under management, transferred the management of thetwo mutual funds in the portfolio to the Vienna unit of PioneerInvestments international group. Pioneer Asset Management ranks 13among fund managers, with a market share of 0.5% in late January.Three years ago, Pioneer held around 7% of the market, but it lostin the race with BCR, Raiffeisen and Banca Transilvania managers,whose expansion was more extensive. "It's one of the naturaleffects of globalisation. From now on, Stabilo and Integro'sinvestment strategies will be decided by the team of experts ofAustria's Pioneer Investments, with the domestic team to furtherhandle distribution, fund unit calculation and the funds'short-term investments in fixed-income securities," said FlorinDolea, chief executive with Pioneer Asset Management. The manageris part of UniCredit Tiriac Bank banking financial group and is thedomestic unit of one of the world's biggest investment managers,Pioneer Investments, controlled by UniCredit.
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