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First fund in Romania of over 100 million euros

The assets of BCR Monetar, the monetary fund managed by Erste Asset Management, exceeded 100 million euros at the end of last week, it is for the first time that a local mutual fund reaches this level, daily Ziarul Financiar writes.

Also, the number of investors in the fund exceeded 20,000. It is for the first time from the collapse of the National Investment Fund (FNI), in 2002, when a mutual fund draws such a big number of investors.

The fund, that mainly invests in bank deposits, reported in the last 12 months (July 1, 2008 - June 30, 2009), the highest yield in its category, of 15.5 percent. A yield higher than that in the market was reported only by the bond fund Al Orizont, managed by Aviva Investors, with 18.5 percent.

The monetary funds have been the stars of H1 2009, drawing net inflows of over 600 million lei (142 million euros), under the conditions in which the investors sought for investment of low risk and to take profit from the high interests offered by banks to deposits.

The total assets of the Romanian mutual funds stood after H1 at 400 million euros.

 

Sursa: http://www.agerpres.ro/

Tags: euros million first bcr

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