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The investment fund industry has 30,000 more investors compared to last year, but in terms of assets under management, it has 2 billion RON less, the President of the Association of Fund Administrators of Romania (AAF), Horia Gusta said on Thursday, at the 4th edition of the AAF Summit, told Agerpres.
"I'm in the position to take a quick X-ray of the industry today, compared to August 2021, and I can tell you that at the end of August 2022, we have 30,000 more investors in the industry. In terms of assets under management, compared to last year, the industry has 2 billion RON less, suffering a little more in the area of open-end investment funds, losing more assets and gaining in the area of alternative investment funds," Gusta said.
He mentioned the projects in which the association was involved, and mentioned the amendment of the Fiscal Code on taxation.
"In April of this year, the Fiscal Code was amended so that from January 1, 2023 we will have a differentiated taxation of 1 pct and 3 pct depending on how long the financial instruments are held, as well as a tax-at-source by fund managers," explained the AAF president.
Horia Gusta also said that the amendment of the legislation of alternative investment funds is underway, "to create in Romania a more permissive and attractive jurisdiction", and argued that Europe does not have legislation for alternative investments, leaving it up to the member states.
