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Introduction

As one of the most important supporting organisations of the Ministry of National Development, the Hungarian National Asset Management Inc. (HNAM Inc.) exercises ownership rights to state assets valued at close to sixteen trillion Hungarian forints. The operations of HNAM Inc. are governed by Act CXCVI of 2011 on National Assets. In accordance with the government's policies and the applicable laws, its tasks include strategy based and responsible asset management, portfolio rationalisation, property management using modern methods, improvement of the profitability of national enterprises, and the preservation and development of national assets.

While managing these assets as a trustee, HNAM Inc. exercises ownership rights to state owned companies on the basis of strategic considerations. It supervises the operation of key companies such as MVM Hungarian Electricity Ltd., one of the most important groups of energy companies, Szerencsejáték Ltd., the dominant player of the Hungarian market of gaming services, and also the regional transport companies providing local road transport services, the water utilities and the waste management holding company.

In addition, our company also provides accommodation for organisations performing state functions, rationalises immovable assets and movable properties, protects nationally recognized monuments, and manages ornaments and antiquities obtained by means of inheritance. As a contractor of key governmental construction projects, HNAM Inc. was involved in the building of Groupama Arena, and was also engaged in the renovation of the building of Várkert Bazár, Pesti Vigadó and the Embassy of the United States.

As part of its responsible asset management practices, HNAM Inc. always focuses on efficient administration, the establishment of partnerships, transparent resource management as well as reliable, predictable, well-considered and conceptually sound portfolio management. Through the creation of a framework for a unified register of assets and the formulation of essential asset management principles, the activities of HNAM Inc. opened the door to exercising property control in a professional way with an emphasis on economy and efficiency related considerations.