Piraeus Asset Management MFMC

What Piraeus Asset Management MFMC does

Piraeus Asset Management MFMC (Πειραιώς Asset Management ΑΕΔΑΚ) is a Greek asset management company and a 100% subsidiary of Piraeus Bank (Τράπεζα Πειραιώς), headquartered in Athens at Leoforos Syggrou 87. The company is supervised by the Hellenic Capital Market Commission under operating license 6/378/14-4-2006 and manages a platform of 37 UCITS mutual funds across equity, balanced, bond, money market, target maturity, enhanced income, and fund-of-funds categories, with €7.7 billion in assets under management as of December 2025 representing approximately 20% of the Greek mutual fund market. The firm also provides discretionary portfolio management services through the Piraeus Optimum program and institutional mandates, supported by digital tools including a Portfolio Builder and Investment Assistant questionnaire.

The company operates a fee-based revenue model charging annual management fees ranging from 0.10% on institutional money market share classes to 1.75% on retail Hellenic Balanced share classes, with tiered pricing across R (retail), I (institutional), U (Unit Linked), E (insurance), D, and Private Banking share classes. Distribution is concentrated through Piraeus Bank's branch network, Private Banking channel, and e-banking platform across Greece, supplemented by sub-distribution agreements with Euroxx Χρηματιστηριακή ΑΕΠΕΥ for the Euroxx Hellenic Recovery Balanced Fund and embedded Unit Linked product distribution through NN Hellas Insurance and National Insurance partnerships. Customer segments span retail investors (no minimum investment), institutional clients, Private Banking high-net-worth clients, and insurance company partners.

The firm employs an experienced investment team led by CEO and Chairman of the Board Ηρακλής Μπαμπλέκος (Hercules Bablekos, appointed July 2008), Vice Chairman Dr. Georgios Dairis, and Chief Investment Officer Konstantinos Kondakis, alongside specialized heads of risk management, compliance, internal audit, MIS, and institutional distribution, with multiple CFA charterholders on the portfolio management bench.

Name

Piraeus Asset Management MFMC

Legal name

Πειραιώς Asset Management Μονοπρόσωπη Ανώνυμη Εταιρία Διαχείρισης Αμοιβαίων Κεφαλαίων

Website

https://piraeusaedak.gr

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Piraeus Asset Management MFMC is a 100% Piraeus Bank subsidiary managing 37 UCITS mutual funds with €7.7 billion AUM and 20% Greek market share. It serves retail, institutional, and Private Banking clients in Greece via management fees on equity, balanced, bond, and money market funds.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Open-End Investment Funds (525910), Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

akta.pro secondary industries

Multi-Asset Mutual Funds & UCITS (Balanced/Allocation Funds) (FSAAAJAA), Money Market Funds (FSAAAEAC)

Keywords

• Mutual fund management
• Asset management services
• UCITS fund management
• Portfolio management
• Investment fund services

Headquarters

HQ city

Athens

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Mutual Fund Management Fees: The company generates revenue through management fees charged on assets under management across its 37 mutual funds. Fees vary by share class and fund type, ranging from 0.10% to 1.75% annual management fees on net asset value.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

Piraeus Asset Management MFMC manages 37 UCITS mutual funds spanning equity, balanced, bond, money market, target maturity, enhanced income, and fund of funds categories, with €7.7 billion in assets under management. The firm also provides discretionary portfolio management services through the Piraeus Optimum program and institutional mandates, serving retail, institutional, and private banking clients across Greece.

Product overview

Piraeus Asset Management ΑΕΔΑΚ is a Greek asset management company and 100% subsidiary of Piraeus Bank, managing over €7.7 billion in assets under management (December 2025). The company operates as a platform of 37 mutual funds (UCITS) plus discretionary portfolio management services. The mutual fund suite includes: (1) Equity funds - Piraeus Hellenic Equity Fund, Piraeus Dynamic Companies Hellenic Equity Fund, Piraeus US Equity Fund, Piraeus Eurozone Equity Fund, Piraeus Ideas Global Equity Fund; (2) Balanced funds - Piraeus European Balanced Fund, Piraeus Income Balanced Fund, Piraeus Hellenic Balanced Fund, Euroxx Hellenic Recovery Balanced Fund; (3) Bond funds - Piraeus Hellenic Corporate Bond Fund, Piraeus Hellenic Bond Fund, Piraeus EURO Aggregate Bond Fund, Piraeus USD Aggregate Bond Fund, Piraeus Medium Term Bond Fund; (4) Target Maturity funds - multiple series maturing 2026-2029 in income and accumulation variants; (5) Enhanced Income funds - Piraeus Enhanced Income I, II, III Bond Funds (new launches 2025-2026); (6) Money Market funds - Piraeus Standard Variable NAV Money Market Fund; (7) Fund of Funds - Piraeus International Bond/Equity/Balanced/Low Volatility/Conservative and Emerging Markets variants. These are complemented by discretionary portfolio management services (Piraeus Optimum) and digital investment tools including the Investment Assistant (questionnaire-based profiling) and Portfolio Builder tool. All funds operate under active management with supervision by the Hellenic Capital Market Commission.

Differentiator

Problem solved

Functional benefit

Products and services

• Piraeus Hellenic Equity Fund
• Piraeus Dynamic Companies Hellenic Equity Fund
• Piraeus US Equity Fund
• Piraeus Eurozone Equity Fund
• Piraeus Ideas Global Equity Fund
• Piraeus European Balanced Fund
• Piraeus Income Balanced Fund
• Piraeus Hellenic Balanced Fund
• Euroxx Hellenic Recovery Balanced Fund
• Piraeus Hellenic Corporate Bond Fund
• Piraeus Hellenic Bond Fund
• Piraeus EURO Aggregate Bond Fund
• Piraeus USD Aggregate Bond Fund
• Piraeus Medium Term Bond Fund
• Piraeus Standard Variable NAV Money Market Fund
• Piraeus International Bond Fund of Funds
• Piraeus Low Volatility Balanced Fund of Funds
• Piraeus International Equity Fund of Funds
• Piraeus Emerging Markets Equity Fund of Funds
• Discretionary Portfolio Management (Διαχείριση Χαρτοφυλακίων)

Quantifiable outcome

• 570% asset growth over past decade reaching €7.7 billion AUM
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core, minor and flagship.

• NN Hellas Insurance Company (NN HELLAS Ασφαλιστική Εταιρία)coreChannel Partner/ Reseller/ DistributorNN Hellas distributes Unit Linked insurance products through Piraeus Bank network, utilizing U share classes of Piraeus mutual funds. Insurance products are sold in Greece within insurance programs issued by NN Hellas in cooperation with Piraeus Bank.
• National Insurance (Εθνική Ασφαλιστική)coreChannel Partner/ Reseller/ DistributorNational Insurance distributes Unit Linked insurance products utilizing E share classes of Piraeus mutual funds. Insurance products are sold in Greece within insurance programs issued by National Insurance.
• Euroxx Χρηματιστηριακή ΑΕΠΕΥminorChannel Partner/ Reseller/ DistributorEuroxx Χρηματιστηριακή ΑΕΠΕΥ operates as sub-distributor (υπο-διαμεσολαβήτρια) for Euroxx Hellenic Recovery Balanced Fund, distributing R and I share classes through its brokerage network.
• Piraeus Bank (Τράπεζα Πειραιώς)flagshipStrategic or Co-development PartnerPiraeus Bank is the 100% parent company of Piraeus Asset Management. The bank provides primary distribution channel through its branch network and e-banking platform for all mutual fund products.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• BlackRock: Global asset management incumbent with iShares ETF franchise representing the dominant passive threat to active mutual fund managers like Piraeus Asset Management. Operates UCITS funds across all asset categories and serves Greek institutional and retail clients via intermediated channels.
• Amundi Asset Management: Europe's largest asset manager (€2T+ AUM) offering UCITS funds across all categories Piraeus Asset Management covers. Distributes into Greece through intermediary platforms and could be a white-label or sub-advisory counterparty or competitor for institutional mandates.
• Allianz Global Investors (Allianz ΑΕΔΑΚ in Greece): Global asset manager with Greek subsidiary operations. Competes with Piraeus Asset Management for institutional mandates and has historical overlap in personnel (Panagiota Sideri previously at Allianz ΑΕΔΑΚ). Active in Greek fixed income and balanced fund categories.

Direct peers

• Alpha Asset Management MFMC (Alpha ΑΕΔΑΚ): Mutual fund arm of Alpha Bank, one of Greece's four systemic banks. Operates a similar UCITS fund platform distributed through Alpha Bank's branch network, competing head-to-head for Greek retail savings in equity, balanced, and bond categories.
• Εθνική Asset Management ΑΕΔΑΚ: Specialized mutual fund management company within the National Bank of Greece group, providing directly comparable UCITS mutual fund products to Piraeus Asset Management with overlap in Greek equity, balanced, and bond fund categories.
• Eurobank Asset Management MFMC (Θεσμική ΑΕΔΑΚ): Greek mutual fund management company subsidiary of Eurobank, offering a competing UCITS platform with similar category coverage (equity, balanced, bond, money market). The two are the closest direct competitors in the Greek retail mutual fund space, both relying on their parent bank's branch network for distribution.
• National Bank of Greece Asset Management: Asset management subsidiary of National Bank of Greece, managing UCITS funds distributed through the NBG branch network. Another of the 'big four' Greek bank-affiliated asset managers competing for the same retail investor wallet share as Piraeus Asset Management.

Regional players

• NN Hellas Insurance (NN Investment Partners): Greek life insurance carrier that distributes Unit Linked products using Piraeus Asset Management's U share classes — making it both a partner and a peer in the broader Greek investment product market. Operates an investment-linked product suite that competes for the same retail savings.
• Euroxx Securities (Χρηματιστηριακή ΑΕΠΕΥ): Greek brokerage that acts as sub-distributor for Piraeus Asset Management's Euroxx Hellenic Recovery Balanced Fund but is also a competitor in the broader Greek retail investment distribution space. Relevant peer for the distribution-side overlap in the Greek market.

Emerging players

• Optima bank Asset Management: Smaller Greek asset manager serving retail and HNW clients through Optima bank's network. Less established than Piraeus Asset Management but competes in similar fund categories; representative of newer entrants challenging the four-bank oligopoly in Greek mutual funds.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/eurobank-asset-management-m-f-m-c

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Piraeus Asset Management MFMC