Growth for all mutual funds in July

Five of these exceeded by up to 18 percentage points the 2009 performance of the BET XT index of the Bucharest Stock Exchange (BVB), of the top 25 blue chips. Active Dinamic fund registered as much as 51.5 percent growth, reversing the downward trend it had registered last year. The BET XT index rose 34.6 percent since the beginning of 2009. Furthermore, regional funds launched two months ago by BRD Asset Management, namely BRD Diverso Europa Regional and BRD Acţiuni Europa Regional, tripled the number of investors. So far, BRD Diverso Europa Regional secured 187 investors, while BRD Acţiuni Europa Regional secured 102 new investors.

“A high interest in new products and for funds with regional exposure is visible. Our approach is conservative, and we are waiting for the best opportunities to increase exposure on shares. Capital markets are still low, but re-launch is expected in a rather short time frame,” according to the General Manager of BRD AM, Dan Nicu, for Business Standard. However, in spite of high yields posted by share funds, most of the new investments were attracted by the five monetary funds operating on the local market. Their net assets rose by some €47 million - almost half of all investments in the field.

Diversified funds (including shares) and bond funds shared the other half of growth. Final statistics of net assets registered in July could register levels above RON 2 billion, or €500 million, for the entire industry.