Mutual funds outrun inflation

Mutual funds in Romania grew by an average of 1.1% in September. This was lower than in August, but still above the rate of inflation of 0.9%. The slight rebound of the Bucharest Stock Exchange (BSE) after the summer was also reflected in the performance of mutual funds, most of which invest their money in listed securities. The BET index, which measures the best performing companies listed on the BSE, rose by 0.2% last month. At the same time, the drop in interest rates on the monetary market had little effect on the yields from funds that invest in fixed-income instruments, since many of these investments were made when interest rates were higher and many have longer maturities. Yields on monetary funds were similar to those in August, with growth ranging from 1% for FCEx, which is managed by SIRA, to 1.4% for Fortuna Gold and Orizont, both of which are managed by Capital Asset Management and Certinvest. ZF