SG Asset Management (SGAM), the asset management company, which is part of the French Societe Generale Group, expects net assets to increase by 30%, to 120 million RON in the last two months of the year, after more than nine months declining assets. "We estimate an increase in assets to over 120 million RON by yearend. We are considering consolidating our existing products in terms of managed assets by making them more attractive, as well as developing new products depending on market demand and trends," says Dan Nicu, chairman of SGAM, which manages open-end investment funds Simfonia 1 and Concerto, whose assets stood at 101.4 million RON at the end of October. SGAM's assets have gone down by more than 10% since the beginning of the year, whereas the French manager was the market leader at the end of January, with assets worth 108.5 million RON. SGAM could establish an equity fund next year, as it is one of the few asset managers part of major financial groups on the market that does not have a presence on the equity fund market yet.
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