Romania: Mutual funds assets up 40 per cent

17. Juli 2006, 00:00

Assets of mutual funds grew by 40 per cent in the first six months of the year, given the big number of companies...

Assets of mutual funds grew by 40 per cent in the first six months of the year, given the big number of companies managing bank investments that entered the market and despite the fact that most of the funds brought losses to the investors during this period, daily Ziarul Financiar reported.

At the end of June, assets of mutual funds totalled EUR 133 million, in addition to the assets worth EUR 53 million, managed by closed-end funds, according to UNOPC data.

Six months into last year, assets of the funds saw an only 5 per cent growth. Mutual funds managed to attract net investments worth RON 68 million (EUR 19.2 million) in the first six months, although the value of fund units has been going down since the beginning of February.

 In the first quarter, investors bought shares in the funds worth EUR 62 million, while shares bought back stood at almost EUR 43 million. Investors put EUR 26 million into diversified and equity funds, while monetary and bond funds saw net outflows worth almost EUR 7 million.

Since the beginning of the year, Raiffeisen and Bancpost have entered the fund market, while specialised companies of the BCR, BRD and HVB have launched new products.
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