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Mutual funds assets in February

In February, this year, just 15 mutual funds in Romania succeeded to increase their net assets, five of the funds administered by the Romanian Commercial Bank (BCR) - Asset Management gaining the most (4.8 million lei - some 1.3 million euros).

Almost half of their advance is based on the increase of BCR Expert share fund, contrary to the normal tendency of lesser interest in the highest risk mutual funds and migration to the bond funds. Dragos Neacsu, CEO of BCR Asset Managements, says that assets on February 29 express Stock Exchange quotations on February 27, so that exactly the few days of BVB recovery were reflected. On the other hand, most likely, many of the new subscribers are investors who incurred losses from direct placements on the Stock Exchange and without giving up their shares opted for this kind of mutual funds, appealing to a risk diversification and a professional management, explained Neacsu. In January 2008, net assets of the 41 mutual funds dropped by 9.22 percent, in lei. February statistics looks better in the European currency than in lei (the national currency), the market climbing slightly, by 1.1 percent, up to 237 million euros at the reference exchange rate established by Romania's National Bank (BNR). A number of 369 new investors in mutual funds entered last month on the market, and the capital inflows were 7.7 million lei (2.1 million euros) higher than the redeemed titles, according to the latest report of the National Union of the Collective Placement Bodies (UNOPC). Sursa: http://www.rompress.ro

Tags: funds mutual million february assets bcr bnr bvb

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