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About us

Fund Managers Association – A.A.F. (former UNOPC until May 2008), is a non-governmental professional organization of operators from Collective Investment Undertakings (O.P.C) Romania which brings together:

  • 19 investment management companies (S.A.I.) which are manageing 81 open-ended investment funds (U.C.I.T.S.) and 24 close-ended investment funds (A.O.P.C.)
  • 4 Financial Investment Companies (S.I.F) former Private Ownership Funds;
  • Fondul Proprietatea;
  • 4 depository banks ;

At the General Assembly of EFAMA members, held in Copenhagen from 21 to 22 June 2007, AAF became an observer member in the EUROPEAN FUND AND ASSET MANAGEMENT ASSOCIATION, as in June 2009 to become a full member of EFAMA.
The Association is managed by a Board of Directors composed of the President, Vice President and five members.


UNOPC changes its name

in May 2008 UNOPC changes its name to Fund Managers Association – AAF (eng. abbreviation FMA)


Regaining trust

between 2000-2002, the period to regain the trust of investors, portfolio restructuring and also to re-launch new funds with monetary or stock specific.


The second crisis

the second crisis of funds (NIF collapse) in May 2000


SIFs listing

Starting November 1’st, 1999, SIFs began to be listed on the Bucharest Stock Exchange Market, soon to become stars of Stock.


Relaunching open-ended funds

relaunching open-ended investment funds after 1999 and the emergence of new ones.


The first crisis

the first funds crisis (FMOA collapse in 1994) due to overevaluation of some assets, lack of investment instruments and legal regulations.



UNOPC was founded in March 1996 with the support of Booz Allen& Hamilton, U.S.A.


  • To promote the concept of collective investment in transferable securities and the activity of its members;
  • To contribute to the organization and activity of the members so that they meet national and international norms and standards in the field;
  • To contribute to the formation and development of the general,organizational, legislative and professional framework, that improves members activities.
  • To contribute to the knowledge of investors and general public of the activities, rights, benefits and risks related to the work done by members.
  • To develop and raise professional standards for members of the Union, to ensure a high level of professional qualification of the staff members of the Union, consistent with international standards of qualification;
  • To establish and develop links with governamental or non-governamental organizations, domestic or foreign, with the purpose of exchanging views and experience in the field and to promote capital market securities and collective investment in Romania.


Remodeling A.A.F. as an organization in terms of its vision and mission on the internal market and on the European one.


Developing profile market, learning and populize EU rules in this field, increase the trus that individual and institutional investors have in funds industry.


Asserting that A.A.F. is a strong forming and perfecting organism for industrys specialists.