THE COUNTRIES THAT joined the European Union at the beginning of this month are set to experience sizeable growth in both retail and institutional assets. It’s a mouthwatering prospect. A number of foreign fund managers have already positioned themselves to take advantage. Those that do not already have a presence or relationship with a domestic player are likely to find it difficult to participate, particularly in the pension fund market.
Even those with operations in these countries face medium-term restrictions.
Pension fund assets in the eight central and eastern European countries that have joined the EU are set to reach between e111 billion and e148 billion by 2010, according to Allianz Dresdner Asset Management (Adam).
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