* History

 

VIENNA Investment Trust was a pioneer with a vision.  Recognizing business opportunities in Romania, we have become one of the first investing organizations to establish a presence in this dynamic and prosperous field.

The company was founded in 1994 (initial name S.C. INCOVAL S.A.) as a founding member of the Bucharest Stock Exchange and our presence until these days is certainly the result of successful ideas.

 

VIENNA Investment Trust has been authorized by Romanian National Securities Commission as to Decision no 3006/02.09.2006.

Contact details of the competent authority:

Name: Romanian National Securities Commission         Address: 2^nd, Foisorului Street, 3^rd District, Bucharest

Fiscal Identification Code: 6367015                                 Phone: +40 21 326 67 11                  Fax: +40 21 326 68 48

 

* Short Profile

We are specialized in middling listed equities and the company is certified by Romanian National Securities Commission as to Certificate no.393/30.05.2006 and registered under no. PJR01SSIF/400051.

VIENNA Investment Trust is a financial services company licensed for the whole range of operations according to the Romanian legislation, from trading to issuing and placing debt and equity instruments on the regulated markets, SPOT and FUTURES.

Recently, we have become members of the leading environmental exchange, BlueNext – holding a market share of over 95% of total transactions with EU Allowances.

We are, at this time, the only Romanian financial services company (intermediary) involved in services related to the Gas Emission Allowances on Romanian territory and we are also member of environmental exchange BlueNext.

VIENNA Investment Trust intends to play a key role in using markets mechanisms for assessing and reducing the greenhouse gas emissions.

* The Team

 

 

Board of Administration

Adrian Simionescu –President

Constantin Toma –Vicepresident

Constantin Marica –  Member

Senior Managers

Adrian Simionescu – General Manager

Lucian Fulea – Trading Manager

Mihaela Miu – Compliance Manager

 

 

Compliance Department

Mihaela-Jeni Miu – Compliance Manager

Cristina-Mihaela Pavel – Compliance Officer

Trading Department

Lucian-Ioan Fulea – Trading Manager

Cornel-Costin Cristea – Financial Services Agent

Andi-Constantin Lostun – Financial Services Agent

Razvan Popescu – Financial Services Agent

Accounting Department

Nely Neaga

Laura Neculcea

Oana Maria Zabulica

* Introducing Vienna Investments Trust

 

RISKS ASOCIATED WITH FINANCIAL INSTRUMENTS

Leverage effect – (1) Using money loaned by a company for increasing the profitability generated by stockholders capital. If a corporation achieves with the loan fund a higher profit than the cost of its due, it means that the leverage effect had been successfully enforced. (2) The used method for increasing profitability of an investment without increasing the investment itself. Buying securities in margin is an example of leverage effect with loaned money. In this case you can obtain an additional leverage effect if the securities bought in margin are convertible in common shares. Although it does not imply using loaned money, pre-emptive rights, guaranties and options represent another example of leverage effect, offering the perspective of obtaining a higher profitability with a low investment or with none.

Among the risks associated with financial instruments traded on regulated markets or on alternative trading systems, we count prices volatility and financial instruments liquidity.

The investor can get, as a follow-on his financial instruments transactions, financial commitment or other additional obligations, including conscriptions, additional to the financial instruments costs. So, in his quality as a stockholder, the client benefits of all the rights and obligations reverted according to Law in this attribute.

 

CONFLICT OF INTEREST

The company takes all the precautions measures so that the conflict of interest situations between the company, including managers, employees, agents or any other person found in a direct or indirect control position in the company, and company’s clients or between two of the company’s clients, or any other combination of the situations above, are identified and then prevented and managed in such case that the clients’ interests won’t be affected.

The organizational chart of the company as to the Internal Organizational Regulations, assures the separation of the deployed activities. Access to confidential information is limited only to those who use the information in their current activity.

The company’s management establishes the staff with access to different categories of information contained by the informational system, the person responsible with the system’s security (using passwords and changing them periodically).

The company does not conclude transactions on its own, in the account of relevant persons, or in the account of third parties, or interested clients on a base of  information that have not yet become public and which could influence the market price, information which it’s employees knew during their activity.

The company will provide financial investment services as a counterpart of the client, or on behalf of the client towards is, direct or indirect, in a conflict of interests, considering inclusively the interests that derive from trades within the group the company is a part of, only if the nature and the expense of his interest are revealed to the client, either in writing or by phone and only if the client greed to conclude a transaction in the given conditions. The notification to the client and the client’s agreement must be registered by the S.S.I.F., inclusively on magnetic support if the communication is made by phone.

Note: Any further details regarding the conflict of interests policy will be at the clients’ disposal at any moment, on request, on a durable reliance.

 

COMPLIANCE DEPARTMENT

According to the organizational chart, the company has a functional Compliance Department. The representatives of compliance department are:

Mihaela-Jeni Miu – Manager

Cristina-Mihaela Pavel – Officer

All complaints will be recorded by the Compliance Officer.

The compliance function operates independently and has the following responsibilities:

a)     To monitor and, on a regular basis, to assess the adequacy and effectiveness of the internal measures and procedures, and the actions taken to address any deficiencies in the firm’s compliance with its obligations;

b)    To advise and assist the relevant persons responsible for carrying out investment services and activities to comply with the obligations of SSIF under the legal provisions.

In exercising its responsibilities, the compliance officer shall be in charge of the following duties:

a)     To monitor and verify on a regular basis the legal provisions relevant to the activity of the S.S.I.F. and its internal procedures, to keep record of the deficiencies found;

b)    To ensure provision of information to the firm and its personnel on the legal framework applicable to capital markets;

c)     To endorse the documents submitted by the company to Romanian National Securities Commission (R.N.S.C.) to the purpose of obtaining the authorisations referred to in R.N.S.C. regulations, as well as the reports submitted to R.N.S.C. and capital market entities;

d)    To prevent and propose remedial measures in the event of breaches of the laws and regulations in force that are relevant to the capital market, as well as of the internal procedures of the firm by the company or by its personnel;

e)    To keep record of all the complaints received from clients and the measures taken for their resolution;

f)      To review and endorse the marketing materials of the company;

g)     To ensure the exclusive use by each of the investment agents of the access codes and passwords assigned by capital market entities;

h)    To report to the Board of Administration, the senior managers and the internal auditors situations when the legislation, the regulations in force or the internal procedures have been breached.

* Ethics and integrity

At VIENNA Investment Trust, the responsibility for ethical behaviour is taken seriously by everyone, at every level.

Acting with integrity is one of the shared values of VIENNA Investment Trust and is based on a long history of carefully adhering to applicable professional standards.

The principles and values of Ethics and Professional Conduct are an integral part of the rigorous commitment VIENNA Investment Trust has made historically and continues to make today to sustain the public TRUST.

 

 

* Chairman’s message

 

Investment philosophy

“When you fight your own conscience and you are defeated, than you have won!” is the assumption of nurturing your own character. I could not accept a place within this live mechanism called stock if I would lose my dignity. Nothing matters more than humanity and I believe that, in order to become a toreador, you must first learn to be a bull!

Building TRUST is our business. I must thank my colleagues, my partners, the shareholders for I am well aware of the fact that all major achievements are nothing but team efforts. We’ve been celebrating success at all levels as I’ve been encouraging early and honest communication with my staff – our greatest asset.

This year is about continuing our already tradition in value oriented services. This is how we grew as a significant company in Romania and our plans are quite ambitious for the years to come. We have started climbing the stairs of success and we shall not stop until we reach the top! And even then, I promise you, we’ll think about it!”

Adrian Simionescu