The management companies are among the key players on capital markets. These firms provide professional management of investment which allows institutional investors to concentrate on the development of their core business. The use of an external investment manager has its advantages. The institutional investors realize considerable reduction of expenses because of curtailing of management expenses. In view of the volume of assets under management the asset management companies achieve considerable economies of scale whereby clients also realize gains. And not least, the ensured professional operation by the asset management company allows clients to benefit from the professional management of their investment.

Worldwide the companies engaged in management of financial assets manage the assets of mutual funds valued at trillions of dollars. Notwithstanding their later start due to objective factors the industry is gathering momentum in the new market economies of Central and Eastern Europe. As of the end of 2005 the assets of mutual funds managed by local companies in Hungary amount to 11% of the general consumption of financial savings instruments used by the households and in Poland this percentage is respectively 12% and firms as well as individuals are the clients of such funds. In comparison, the savings of households in Bulgaria by the end of 2005 are below 1% of the general consumption of financial savings instruments.

The expectations of experts are that the asset management industry will develop from now on in Bulgaria. The economic development of the country as well as of the financial market already manifests a necessity for professional management of investment. The individual investors and firms seek investment alternatives different from bank deposits where such alternatives may be ensured only by professional managers. A fact indicative of this is that as at the end of 2006 the assets invested in mutual funds in this country amount to BGN 304 million which is a triple increase in comparison with the end of 2005.