Mutual funds market up 40% in H1

Assets of mutual funds grew by 40% 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. At the end of June, assets of mutual funds totalled 133 million euros, in addition to the assets worth 53 million euros, managed by closed-end funds, according to UNOPC data. (UNOPC – The National Union of Collective Investment Institutions). Six months into last year, assets of the funds saw an only 5% growth. Mutual funds managed to attract net investments worth 68 million RON (19.2 million euros) 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 62 million euros, while shares bought back stood at almost 43 million euros. Investors put 26 million euros into diversified and equity funds, while monetary and bond funds saw net outflows worth almost 7 million euros. 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. Banca Transilvania is present on the market, as well, with a management company that started operating last year.