The Informed magazine, published by the UK’s Investor Relations Society, writes about the establishment of ARIR


Bucharest, January 30th, 2019 – The most recent issue of Informed, distributed by the UK IR Society to thousands of investor relations professionals around the world, includes an article signed by Daniela Şerban, President of ARIR. It includes the story about the establishment of the Romanian Investor Relations Association, details about the founding members and the results of the first perception study conducted among institutional investors

As a “Letter from Romania”,the article is included alongside stories from Singapore, Denmark and the Middle East. Editors of the “Informed” magazine welcome ARIR and note about the objective of the local capital market to upgrade to the emerging market category, as well as recent market events.

Daniela Șerban, ARIR President:

“By setting-up the Association, all founding members decided to get involved and take IR in Romania to a new level. Collaboration with professionals acting in the developed markets is a priority for us.”

ARIR first initiative was to release the results of a perception survey among institutional investors about the communication of Romanian listed companies with investors. In the survey,completed in November 2018, 30 investors took part, with total assets under management of €5.7 billion and an exposure of €689 million in Romania.

Main results of the survey were:

  • Listed companies on BVB are responsive to investor’s questions and concerns, according to 84% of institutional investors who responded to the survey
  • The availability of the management of listed companies is 72% at or above the expectations of institutional investors. 60%of the answers stated that the transparency and the quality of reporting of the companies listed at BVB correspond to their expectations
  • Strenghts of the market – attractive dividend policies and low valuations,
  • Weaknesses – Liquidity and market depth, financial education and low activity of individual investors


About Romanian Investor RelationsAssociation (ARIR):

ARIR is a non-governmental and non-profit organization that was set-up to provide current and potential issuers a platform for the development of Investor Relations (IR)professionals and contribute to the implementation of best practices in investor communication and corporate governance. The founding members are BVB, ALRO, Franklin Templeton Management – Bucharest Branch, Electromagnetica, Hidroelectrica, Nuclearelectrica, Teraplast, Transelectrica, Daniela Șerban, Cosmin Raduta and Tony Romani.

The activity of the Association will follow 5 key strategic directions having the following objectives:

  1. Evaluation – Assessment of investors’ perception related to listed companies
  2. Presentation – Improvement of companies’ presentation
  3. Regulations – Monitoring the legislative framework and supporting members’ opinions
  4. Communication – Strengthening links with investor and analyst communities
  5. Recognition – Promoting companies that implement best practices


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