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Theoretical and Applied Economics
No. 3 / 2008 (520)

Perspectives of Collective Investment Undertakings Market

Gabriela Anghelache
Academia de Studii Economice, Bucuresti
Cosmin Paunescu
Comisia Nationala a Valorilor Mobiliare

Abstract. The paper presents the main characteristics of the collective investment undertakings, in accordance with the European standards, as well as their prospective evolution in Romania. New elements, appeared post-accession, are highlighted, referring to the structure and management of the collective investment undertakings. Local market is described compared to the European market, with focus on the factors which have impact on its development. Risk management, disclosure and investor protection are the main terms of reference in the management of the collective investment undertakings.

Keywords: investment funds; collective investment undertakings; financial instruments markets; investment policy; market risk; fund assets; portfolio.

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