Mutual funds: same investors, same small growth

The number of investors in Romanian mutual funds has stayed at approximately 60,000 for more than six months now, with no significant changes from one month to another, while the amounts invested in those funds are not going beyond 1,000bn ROL.

The average increase in mutual fund shares calculated by the National Union of Collective Placement Bodies (UNOPC) amounted to 0.9% last month, equal to the average monthly inflation in the first eight months, but above the inflation in August, which reached only 0.3%. The mutual funds in the last twelve months have not been capable of at least keeping up with inflation. The average share growth was of only 9.9%, while the average inflationary rate amounted to 14.2%.

The yields provided by more and more of the monetary funds on the market are sliding below 1%. Fondul pentru Comert Exterior (Foreign Trade Fund) posted only 0.6% growth last month, while Plus Fidelity shares went up 0.7% and the largest fund on the market, Simfonia 1, progressed by 0.9%. Top performing money market funds were Vanguard Protector – 1.3% growth and Tezaur – 1.2%.

The two funds investing in shares last month made money from the bonus shares distributed by Impact Bucharest, which is among the most significant investments made by Napoca and Intercapital. Napoca fund shares went up 2.6% last month and Intercapital rose 1.6%.

Intercapital would have progressed even further, were it not forced to substantially reduce the value at which the International Leasing shares are registered, due to the fact these shares have been suspended on RASDAQ for more than three months.

The new fund launched by the investment management company of Banca Comerciala Romana (Romanian Commercial Bank – BCR), BCR Dinamic, saw its shares grow 1.2% last month, i.e. more than the rest of the market. vlad.nicolaescu@zf.ro