News

Bulgaria mutual fund assets top 1.2 bln euro

The net assets of the local mutual funds alone rose 12% month-on-month to 972 mln levs. In September, the investment schemes added 140 mln levs.

The funds have so far tripled their assets since the beginning of 2007 and are on track to post a fourfold increase for the full year.

The non-native investment schemes manage at least 265 mln levs, including 195 mln levs in the portfolio of the Pioneer funds and 52.3 mln levs in the funds marketed by SG Asset Management.

Raiffeisen Asset Management controls 15% of the market, the biggest share among the local players. It is followed by DSK Asset Management with 14%.

Capman Asset Management cracks the top 5 with 111.9 mln levs, just behind Elana Fund Management with 112 mln levs,, displacing Karoll Capital Management.

Capman Max, the high-risk fund of Capman Asset Management, surged to the top of the pile with 89 mln levs in assets, ahead of DSK Growth (85.6 mln levs), Raiffeisen (Bulgaria) Fund Shares (75.6 mln levs), Advance Invest (75.5 mln levs) and Raiffeisen (Bulgaria) Balanced Fund (62 mln levs).

The bulk of mutual assets is managed by high-risk funds (64.5%).

Five of the nation's 65 mutual funds started their business in October while nine are yet to offer shares to the investors.(Dnevnik)