Polish financial group Aforti, specialized in financing small and medium-sized enterprises, will take over Vanguard Asset Management, a Romanian asset management firm that manages an ETF (exchange-traded investment fund) whose portfolio follows the structure of the BET index, Profit.ro reported.
Vanguard Asset Management is currently part of Tradeville group, which includes one of the biggest local brokerage firms - Tradeville.
Aforti is currently waiting for the necessary regulatory approvals to complete the deal. Aforti Holding's general manager, Piotr Klinowski, received the approval of the Romanian financial markets regulator ASF to join the Board of Directors of Vanguard Asset Management.
Vanguard manages the sole ETF (exchange traded fund), which holds in its portfolio mainly shares of Romanian blue chips: Fondul Proprietatea, Banca Transilvania, OMV Petrom, Romgaz and BRD Bank account for three quarters of the portfolio.
Aforti has recently entered the Romanian market with Aforti Finance, a non-bank loan provider for companies.
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