About Us
Who We Are
BT Asset Management SAI is a company specialized in investment management, member of the Banca Transilvania Financial Group. The management is carried out for open-end investment funds and alternative investment funds, with placements in a wide range of financial instruments (stocks, bonds, government securities, deposits etc.).
Asset management activity began in 2005 starting from a modest number of clients. Since then, we have managed to increase each year the number of those who expressed their trust in the products of BT Asset Management SAI. Thus, by the year 2026, we have reached over 350,000 clients and assets exceeding 10 billion RON. The trust given by our clients is the most important recognition that can be granted to us, and for the future we aim for stable growth and attracting a significant number of investors.
We consider that through the products offered by BT Asset Management SAI we are strong supporters of the local entrepreneurial spirit. We are part of the Banca Transilvania Financial Group which has shown understanding and support for those who want to become entrepreneurs and are eager to succeed. We thus provide numerous options to invest money and to mobilize the savings of each investor with the goal of optimally exploiting the opportunities in the capital market.
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Banca Transilvania99.99%
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Other shareholders0.01%
All these elements have contributed to increasing the role of BT Asset Management SAI in the local investment funds industry, the company being present in the top of the largest administrators in Romania. The funds managed by BT Asset Management SAI are addressed to natural and legal persons, Romanian and foreign, under the conditions of the issuance prospectuses of the managed investment funds, which do not have enough information to individually create a portfolio with risk reduction present in capital market operations. The advantages of investing in our funds consist of quality services offered to the client, and the diversification of their portfolio reduces the risks present in market operations.
Currently, BT Asset Management SAI, established as a joint-stock company, has a share capital of 7,165,700 Ron and is authorized by the National Securities Commission (currently the Financial Supervisory Authority) to provide services in accordance with the provisions of GEO 32/2012 regarding collective investment undertakings in securities and investment management companies, being registered in the Register of the National Securities Commission (currently the Financial Supervisory Authority) under number PJR05SAIR/120016/29.03.2005.
Also, BT Asset Management SAI is authorized as an Alternative Investment Funds Administrator, based on ASF Authorization no.30/01.02.2018, being registered in this capacity in the Register of the Financial Supervisory Authority under the number PJR071AFIAA/120003/01.02.2018.
BT Asset Management SAI is a personal data operator, in compliance with the provisions of EU Regulation no. 679/2016 regarding the protection of natural persons with regard to the processing of personal data and the free movement of such data.
Based on the agreement between Romania and the United States of America for improving international tax compliance and for the implementation of FATCA, BT Asset Management SAI is registered with the Internal Revenue Service (IRS) with the FATCA status of Reporting Financial Institution (based on a Model 1 IGA agreement), in its own name, with the Global Intermediary Identification Number (GIIN) 4ID1WZ.00002.ME.642, and also as a sponsor for the managed entities, with GIIN 2UZSA2.00000.SP.642.
With the entry into force on 01.01.2016 of the new Fiscal Procedure Code, which transposes at the national level Directive 2014/107/EU regarding the mandatory automatic exchange of information in the tax field through Common Reporting Standard (CRS), BT Asset Management SAI is obliged to apply the reporting and tax diligence rules, integral part of the code.
BT Asset Management SAI is registered with the code LEI: 25490007RQZBTI91HW10, identification code of legal entity persons, which underlies the global standard (ISO 17442) and uniquely and clearly identifies key information belonging to legal entity persons involved in financial transactions.
European Unique Identifier (EUID) of BT Asset Management SAI is: ROONRC.J2005000647121
Our team
Out of the desire to be as close as possible to investors, some members of the BT Asset Management SAI team introduce themselves:
Dan DASCĂL
GENERAL DIRECTOR
Dan Dascal he is a graduate of the Faculty of Automation and Computers in Cluj-Napoca, class of 1996. His first contact with the Romanian Capital Market was in 1997 when he started as a Stockbroker. Starting in 2002, Dan joined the Banca Transilvania Group within the company BT Securities (currently BT Capital Partners) where he held the position of Operations Director. Dan joined BT Asset Management SAI in 2017, where he held until 2023 the position of Deputy General Director – Investment Director, later being appointed General Director.
Dan has solid knowledge in the Capital Market field, acquired over more than 25 years of activity in this field, and throughout his career he has led key departments within top-ranking companies operating in the capital market in Romania.
Călin CONDOR
DEPUTY GENERAL DIRECTOR
Calin Condoris a graduate of the Technical University of Cluj-Napoca, class of 1993, with two postgraduate studies in: Business Administration and Banks and Capital Markets. In 1995 he begins his career at Transilvania Bank, and over time he holds the position of Deputy Director of the Treasury Department, Deputy Director of the Private Banking Department, and Deputy Director of the Compliance Department of Transilvania Bank. Since 2021 he has joined the BT Asset Management team coordinating the operational activity of the subsidiary.
Tudor IRIMIEA
DEPUTY GENERAL DIRECTOR
Tudor Irimiea graduated from the Faculty of Economic Sciences and Business Management in Cluj Napoca in 2007, and is currently attending the courses of an Executive MBA at the University of Hull in Great Britain.
After graduating from university, he began his activity in the banking sector, predominantly in the sales segment. Since 2013, he has held the position of stockbroker, and in 2015 he founded the first investors' club in Romania. Since 2017, he has joined the team of BT Asset Management SAI, and currently works in the position of sales coordination.
Cristian NIȘULESCU
HEAD OF MARKETING AND DISTRIBUTION DEPARTMENT
Cristian Nisulescu he is a graduate and a master's student at the Faculty of Accounting, Auditing, and Management Informatics since 2010. Over time, he has held positions as a financial consultant, accountant, and analyst. He began his activity at Banca Transilvania in 2016, and since 2018 he has joined the BT Asset Management team, taking on the role of Regional Sales Manager, in which he ensures client relations and promotes investment products in the southern region of the country.
Eduard BEGINNING
REGIONAL SALES MANAGER, BUCHAREST AND SOUTHERN REGION
Eduard Inizian have over 15 years of experience in the banking field and a specialization in the capital market obtained at Tulane University, USA.
He worked at Raiffeisen Bank and Erste Asset Management SAI where he prioritized building a base of institutional clients. Eduard has been part of the BT Asset Management team since 2021, holding the position of Regional Sales Manager with responsibilities in Bucharest and the Southern Region of the country.
Sebastian CALARA
REGIONAL SALES MANAGER MOLDOVA
Sebastian Calara is a graduate of the Faculty of Economic Sciences "Vasile Alecsandri" in Bacau, with postgraduate studies in Business Management at the "George Bacovia" University in the same city.
Over time, he/she worked within BRD-GSG and Omniasig VIG SA holding various positions within the sales departments. Since 2014, he/she has joined the BT Asset Management SAI team where he/she is responsible for promoting the products in the eastern region of the country.
Kristof KONDRAT
REGIONAL SALES MANAGER TRANSYLVANIA
Kristof Kondrat He attended the courses of "Babeș-Bolyai" University in Cluj-Napoca, Faculty of Business, Business Administration department. During 2021-2023, he held the position of stock broker within Tradeville SA company. Before that, he was involved in multiple educational projects such as Financial Minute, a project dedicated to promoting the local stock exchange. Starting in 2023, he joins the BT Asset Management SAI team with the objective of promoting products and maintaining contact with clients in the Transylvania region
Rareș TRIF
INVESTMENTS DIRECTOR
Rares Trif graduated from the Faculty of Economic Sciences and Business Administration, within Babes-Bolyai University of Cluj-Napoca in 2008, majoring in Finance-Banking, then pursuing master's studies in Business Management at the same educational institution. He/she participated in specialization courses organized by the Romanian Banking Institute, and in 2017 obtained the international Fixed Income Certificate issued by the ICMA Center, in partnership with the University of Reading, UK.
Rares joined the BT Asset Management team in 2013, within the fund management division. He moved to the role of Fund Manager in 2017, where he was responsible for managing investments in fixed income instruments, and currently coordinates the activity of the Investment Department.
Andrei IUPCEANU
FUND MANAGER
Andrei Iupceanu he graduated both from the Faculty of Mathematics and Computer Science within the "Babes-Bolyai" University, and from the Faculty of Economic Sciences within the "Bogdan-Voda" University. He holds a master's degree in Management in Administration, Credit Institutions and Commercial Companies, obtained within the "Bogdan-Voda" University. All these are complemented by participation in specialized courses organized by the Romanian Banking Institute.
In the year 2005, shortly after the establishment of BT Asset Management, Andrei joined the fund management team, currently managing mainly placements denominated in RON and USD, of fixed income funds.
Roland NAGY, CFA
FUND MANAGER
Roland Nagy he graduated from the Faculty of Economic Sciences and Business Management, Accounting section in 2016 and holds the CFA (Chartered Financial Analyst) certification since 2021
Immediately after graduation, Roland joined the Transilvania Bank Financial Group where he gained experience in the position of financial analyst, and since 2019 he has been managing sectoral funds within BT Asset Management SAI SA.
Alexandru TUDOR, CFA
FUND MANAGER
Alexandru Tudor graduated from the Faculty of Mathematics and Computer Science, specializing in Business & IT, at the University of Twente, Netherlands. Later, in 2024, obtained the CFA certification .
Alex joined the BT Asset Management team immediately after finishing university studies, as a Risk Analyst. He transitioned to the role of Fund Manager in 2025, and is responsible for managing equity and mixed funds, with a focus on the local market.
Adrian VUȘCAN
ECONOMIC DIRECTOR
Arian Vuscan is a graduate of Babeș-Bolyai University of Cluj-Napoca, Faculty of Economic Sciences, Finance-Banking department, with postgraduate studies in accounting expert and financial auditor.
Professional, Adrian has been part, over time, of teams at BT Insurance, Groupama Insurance, and the National Union of Insurance-Reinsurance Companies of Romania, holding various managerial positions. Between 1998 and 2004, he was appointed by the Budget and Finance Committee of the Romanian Parliament as auditor of the National Bank of Romania.
Since 2016 he has joined the BT Asset Management team, having the position of economic director, and since 2020 he holds the position of economic director also within BT Pensii.
Corina PAICU
OPERATIONS DIRECTOR
Corina Paicu is a graduate of the Faculty of Mathematics, Computer Science department, at Babes-Bolyai University, class of 1987. Between 1995-2004, she worked at SC SPOR SA as administrator of the ARDAF Mutual Fund where she held the position of Head of Asset Calculation Office. Since March 2006, she joined the BT Asset Management team, where from September 2006 she held the position of Operations Service Head, and since May 2013 she is Director of Operations Directorate.
Renate SAS
HEAD OF COMPLIANCE DEPARTMENT
Our philosophy
BT Asset Management SAI is aware of the special importance of the trust placed in it by investors in the funds it manages. In this regard, all undertaken actions share some common elements that define us:
- Customer orientation: we make every effort to know, serve and satisfy the desires of our customers
- Documentation, research and continuous analysis: we substantiate any decision to invest the assets of the managed funds and we give utmost importance to continuous information
- Understanding the risks: we pay increased attention to reducing the risks to which investors in our investment funds are exposed
Petitions
For the resolution of petitions, respectively for the alternative resolution of disputes, consumers can address BT Asset Management SAI SA, respectively the Alternative Dispute Resolution Entity in the Non-Banking Financial Sector (SAL-FIN), under the conditions presented in the Procedure regarding the resolution of petitions related to the activity of BT Asset Management SAI SA.
The procedure regarding the resolution of petitions related to the activity of BT Asset Management SAI SA is available here.
Contact information for SAL-FIN is available on the website www.salfin.ro
Investment Policy/EGM
Information regarding transparency
Financial information
Select the year of the accounting reports:
Remuneration policy
Sustainability Policy
BT Asset Management SAI S.A. does not take into account the negative effect of investment decisions on sustainability factors, there is no published information to analyze the impact of investment decisions on sustainability factors. BT Asset Management SAI S.A. has developed Policy on sustainability and integration of sustainability-related risks at BT Asset Management SAI S.A. and intends to gradually take into account the negative effects of investment decisions on sustainability factors, as issuers held in the portfolio or those of interest for future investments can be evaluated based on a sustainability elements rating (ESG rating).