Voicu, who has 13 years' experience in mutual fund management, will be in charge of investment decisions of Aviva's new pension fund. Besides the pillar II mandatory pension fund, Certinvest also launched a pillar III voluntary pension fund, after it was taken over by Aviva group.
For several years Certinvest has managed an investment fund which, in terms of structure, is similar to a pension fund, namely the Capital Plus diversified fund. However, Voicu believes a pension fund would be more cautious in its approach to choosing investment instruments and assume smaller risks.
Certinvest's new chairman already has an idea of where to place investors' money. Besides investments on the domestic market, Voicu says he will earmark funds for emerging markets. However, he admits some additional precautionary measures should be taken given the nature of pension funds.
"We will fight for bigger yields. I personally want funds to invest on the domestic market, but also make placements on emerging markets. However, pension funds require greater prudence in terms of investment decisions," Eugen Voicu, Certinvest chairman, told ZF.
He counts on the expertise brought by the international group, the world's fifth largest insurer and number one in England. Certinvest does not intend to change its name, but will continue to be a fund manager that seeks to expand its product range.
"Certinvest will continue to be an individual brand we develop further. We will prepare new products and we will also develop the asset management side," says Eugen Voicu.
Certinvest's portfolio includes 4 open-end investment funds managed and accounts for 5.7% of the mutual fund market.
Takeover talks were held with Aviva and an Israeli financial group. According to Voicu, the British company won, because it already boasts a strong position domestically in terms of the sale and distribution of financial products, with mixed products likely to be launched in the future.
The Romanian investment fund market, which managed around 250m euros in late September, has the potential to grow to 2bn euros within the next 3 years, according to market estimates.
"Certinvest's takeover by Aviva will mean the fund manager will benefit from the expertise of England's biggest asset management company," adds Voicu.
The first step was taken in autumn, when Certinvest launched a voluntary pension fund, the first since the company was taken over by Aviva. Voicu believes the combined know-how of the two companies will be an advantage for Certinvest and for the Aviva's pension fund.
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