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Net assets managed by the 206 local and foreign open- and closed-end investment funds were by 0.7 pct less this October, at 43.2 billion lei and 9.25 billion euro, respectively, and 5.6 pct down since the beginning of the year, with net outflows of the month amounting to 234 million lei (50.2 million euro), Romania's Fund Managers Association (AAF) reported on Tuesday.
The net assets of the 78 local open-end funds were 1.3 pct down in October from the previous month to 20 billion lei (4.29 billion euro) while the year-to-date decline is 11.8 pct.
Net outflows from local open-end funds this October amounted to 245 million lei (52.5 million euro), with a figure break-down as follows: bond and fixed-income funds (-129.5 million lei); 'other funds' (-112.2 million lei); absolute return funds (-12.4 million lei); stock funds (-5.3 million lei); secured capital funds (-3.2 million lei); money market funds had an inflow of 13.9 million lei and diversified funds had 4 million lei flowing in, AAF points out.
According to the cited source, net assets expressed in lei of the 98 foreign open-end funds present in Romania dropped 1.2 pct from September to about 3 billion lei (640 million euro) and were up 1.4 pct since the beginning of the year.
Foreign open-end funds present in Romania, which account for 13 percent of the total assets of open-end investment funds, this October had net inflows of 9.6 million lei (2.1 million euro).
Net assets managed by the 30 closed-end funds (SIF (Financial Investment Company)s and Fondul Proprietatea included) dipped 0.1 pct in October to 20.1 billion lei (4.31 billion euro) and saw net inflows worth 0.7 million lei (0.15 million euro), as well as a 0.4 pct year-to-date rise in net assets.
