Ljubljana, 24 April (STA) - The fund management branch of insurer Zavarovalnica Triglav completed the acquisition of fund manager Alta Skladi on Wednesday to become the leading provider of mutual funds in the Slovenian market with a 34% market share.
Alta, then Slovenia's largest asset management group, was sold in September 2018. The Austrian BKS bank purchased the group's brokerage business, while the fund management business was sold to Triglav pending regulatory approval.
With the transaction cleared, Triglav now has 36 mutual funds with EUR 930m in assets under management for more than 120,000 clients.
Last September, Triglav said the acquisition was in line with the group's long-term strategy of making mutual funds the second pillar of its operations until 2020.