Romanian unit trusts report record assets

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Romanian unit trusts closed January 2010 on record net assets valued at RON 3.65 billion (more then 850 million euros), up almost 10 percent from late 2009, on net inflows of over RON 272 million (about 64 million euros) from investors, daily Ziarul Financiar reports.

There are almost 170,000 investors investing in the 51 unit trusts in operation, with the majority of them preferring monetary and security trusts that are seen as less risky and paying yields that exceed bank interest.
The main investments of these two type of unit trusts are bank deposits, Government securities and treasury bonds.

‘We will be witnessing interest cuts this February and March, and so I am expecting the attractiveness of security unit trusts to increase in the next months,’ Chairman of the Erste Asset Management company Dragos Neascu told the newspaper.
Monetary and security unit trusts drew the largest amounts from investors throughout 2009, while trusts investing in shares and diversified products, which are riskier, were ignored by investors, despite their annual yields of up to 100 percent.

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