Net assets of local and foreign investment funds down 4.9 pct year-to-date

The net assets of the 206 local and foreign open- and closed-end investment funds increased 0.7 percent in September to 43.5 bln lei (9.32 bln euro), but were 4.9 pct down since the beginning of the year, the Fund Managers Association (AAF) announced in a release on Tuesday.

Net outflows this September totaled 157 million lei (33.7 million euro). The net assets of the 78 local open-end funds were 0.5 pct down in September from the month before to 20.3 billion lei (4.35 billion euro) while the year-to-date decline is 10.6 pct. 

Net outflows from local open-end funds this September stood at 180 million lei (38.7 million euro), with the bulk of 123.5 million lei flowing out of 'other funds'; bond and fixed-income funds registered an outflow of 83.8 million lei; secured capital funds (-5.3 million lei); absolute return funds (-2.7 million lei); and stock funds (-0.3 million lei); while money market funds had an inflow of 20.3 million lei and diversified funds had 15.6 million lei flowing in.

Net assets expressed in lei of the 98 foreign open-end funds present in Romania increased 0.7 percent from August to 3 billion lei (648 million euro) and 2.7 percent 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 September had net inflows of 26.7 million lei (5.7 million euro). Net assets with the 30 closed-end funds (SIFs and FP included) advanced 2 percent in the reporting period to 20.2 billion lei (4.32 billion euro). September's net outflows from closed-end funds stood at 3.8 million lei (0.8 million euro), while net assets were 0.5 percent up this year.