Stock market rewards mutual funds

Funds investing chiefly in shares in October provided the highest yields among mutual funds on the market due to the upward trend of the main shares listed on the two stock markets. The BET and BET-C indices, which monitor the shares listed on the Bucharest Stock Exchange, grew by about 20% in October, while the RASDAQ-C recorded a 14% increase in the performance of companies listed on the RASDAQ. At present, most funds have a lot of their capital invested in shares. October’s top performer was Napoca, the fund managed by Globinvest, which has almost 60% of its assets invested in listed shares. Other stock market funds also saw significant growth. Oportunitati Nationale, a fund managed by Vanguard, yielded 5.9%, with similar performances by Intercapital and Omninvest, which are managed by Certinvest and SIRA, respectively. All these funds have 48-49% of their assets invested in shares. Intercapital subscribed in the initial public offering put out by SSIF Broker in October. Omninvest was taken over by SIRA earlier this year and was turned into a stock market fund following a portfolio restructuring. ZF