ČP INVEST, an existing distributor of open-ended mutual funds, has joined forces with its own asset manager, Generali Investments CEE. The combination will give rise to the leading investment company in the Czech market, managing assets amounting to nearly CZK 250 billion. The deal has been approved by the Czech National Bank.
Both companies have been successfully cooperating with each other for many years. ČP INVEST investment company served as a provider of open-ended mutual funds to retail investors. The assets of these funds were under Generali Investments CEE’s management.
Having acquired the extended licence for an investment company enabling the asset management, Generali Investments CEE will be able to provide a more efficient fund management for retail investors, pension companies and insurance companies belonging to the Generali Group, effective immediately. In this way, the company will acquire new opportunities to increase its market share.
“The merge of the two companies will enable us to offer comprehensive services to individual investors and institutions, in the fields of fund products and asset management, and this all will be under one roof,” says Josef Beneš, Chief Executive Officer and Chairman of the Board of Generali Investments CEE.
Through the merger, the company aims to increase market reactiveness. The company will continue to focus on retail clients; however, its business will be developed to start serving corporations, public institutions and banks as well.
“I believe that Generali Investments CEE activities will contribute to make Prague a new important crossroad for investments in the region of Central and Eastern Europe in the next years,” adds Josef Beneš.