Equity funds lose 25% of clients' money

Equity funds lost over a quarter of investors’ money in the first six months of the year, after only 2 out of the 14 funds managed to lose less than 25%. The average performance of the 14 over six month-old equity funds stood at minus 30% in the first half of the year, depreciation similar to that reported on the Stock Exchange during the same period. The BET-C index, which reflects the overall price trend of Stock Exchange-listed companies, appreciated 29% in the first six months of the year, while the index of the five financial investment companies – BET-Fi, lost almost 40%. The difference between the best performing and the worst performing fund is significant. Investica Altius, managed by Investica Asset Management, closed the first half with a 19.3% decline, while the industry’s worst performer, Raiffeisen Romania Actiuni, managed by Raiffeisen Asset Management, reported a 39.1% depreciation.