Only two funds beat bank deposits

People who chose to place their money in investment funds gained less than those who chose bank deposits during the last year, after just two funds managed to bring an annual yield above the value of bank interest rates. Stabilo, a bond fund managed by Pioneer Asset Management, was the best performer in May, with an 11.6% yield over the last 12 months, followed by Orizont, a bond fund managed by Certinvest, which brought its investors an 8.6% annual yield. Of the 47 open-ended investment funds, only Stabilo and Orizont reported performance above the 7.2% level of bank interest rates, according to the UNOPC (National Union of Collective Placement Bodies). No equity fund managed to derive a profit in this period, while only three balanced funds saw a profit in the May 2007 – May 2008 period.