Mutual funds down by almost 16.5% in 2008

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The open investment funds reported an average negative yield last week of 3.81% because of reaching minimal levels on the stock exchange and since the beginning of the year the decrease is of 16.48%, according to the information carried by funds.
According to the information recently published by the Fund Administrators Association the flow of net subscriptions (the gap between subscriptions and buyback) in investments funds continued to be significant in July, too, and exceeded 15 million euros, of which over 65% in the funds of bonds and monetary funds.
 
The monetary finds and funds of bonds continue an upward trend and reported at the end of July a rise of over 23% in net asserts and 2.7 and 4.4% in the number of investors.
The overall number of investors in open and closed-end investment funds stand at 175,878, most being in closed-end funds – 90,170 and diversified funds – 50,401.
Net assets of the 50 open investment funds in Romania reached at the end of July this year at 921 million lei, up 2.9% compared to the previous month, but 3.4% down as against the end of 2007.
 
The share funds (16) and diversified funds (18) continue to dominate the market with net assets of 256 and 258 million lei, however, down by 9.5% and 5.7 respectively as against June 2008. The biggest rise in assets was reported by the funds of bonds – 23.2% and monetary funds 24%.Total net assets of open and closed-end investment funds exceed 1.004 billion lei. In July, the subscriptions of investors amounted to 99.3 million lei and buybacks at 44.7 million lei, with net inflows standing at 54.6 million lei.
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