First portfolio managers in Serbia received certificates

Milko Štimac, the President of the Securities Commission, handed yesterday (February 20, 2007) the certificates to the first portfolio managers in Serbia.

Total of 11 students passed a very demanding exam and, in that way, acquired prestigious title. Concerning the fact that they meet the requirement to have three years of working experience, nine of them practically have the license for work. Also, two certificates on passed exam were handed to the investment councilors, as well as few tens of certificates to the new brokers.

Dejan Malinić, one of the most responsible for organization of the exam for portfolio managers and investment councilors in the premises of the Securities Commission in Belgrade, in collaboration with the Economy Faculty in Belgrade, pointed out that the national license was the expression of the real need of the society for such title and that the high criteria on the exam should not be lowered in the future.

The title of portfolio manager is a new thing in Serbia and it is related to the work with securities within the funds, into which the money of minor stockholders or of those who save for the old age are flowing. The portfolio managers takes care for them that this money be invested in the best way. They are the ones who estimate risks and provide profit.

Previous sluggishness in the registration of voluntary pension funds is explained exactly by the lack of portfolio managers. The licenses obtained abroad are now acknowledged in Serbia.