Romanian asset manager Certivents will take over KD Maximus fund from investment management company KD Investments Romania.

At the end of 2013, KD Maximum had assets worth around RON 29 million (or some EUR 6.4 million), attracted from 724 investors. The fund was launched in 2004 and invests mainly in shares from Romania and southern Europe.

The deal is currently pending approval from the Financial Supervision Authority (AFS).

“Following the transfer, Certinvest will exceed RON 200 million in assets under management, through the 16 managed funds, increasing the ratio of investments in mainly Romanian shares to around 25 percent of total assets,” said Horia Gusta, president of Certinvest’s management committee.

Jan Pricop, CEO SAI KD Investments Romania, also said that this transfer will lead to the “consolidation of the asset management market in Romania.”

KD Maximum will work for another 30 days, starting January 9, according to the present rules, and investors can still work with KD Investments Romania for performing transactions.

After that period, AFS will suspend any transactions until Certinvest’s takeover receives the green light.

Irina Popescu, irina.popescu@romania-insider.com