Being a workshop is very much in the DNA of Concorde Asset Management. Indeed what is now an asset manager in its own right grew out of an analyst’s idea in 1994 at Concorde Securities brokerage1; when an analyst – now Concorde Asset Management’s chairman – famously proclaimed “if we are so sure of our [investment] ideas why don’t we stick some money behind it”; and so Concorde Asset Management was born.
CAM gained full independence following a management buyout in a 2011 and became majority employee-owned. Four of the owners are members of the management team; and out of these four, three are also portfolio managers. This ownership structure ensures that no agency problem arises and that managers act in the best interest of the company.
At this point, we would like to note that the minority owners are also Hungarian individual investors, including owners of Concorde Securities, Hungary’s largest broker-dealer firm.
Today, Concorde Asset Management manages more than $ 2 billion in assets, which makes it the largest independent asset management company in Hungary. We operate in four different jurisdictions.
1 Concorde Asset Management is now an independent company and not part of Concorde Securities.