Another six equity funds also enjoyed an impressive evolution, surpassing the 40 percent increase in the BET-C index. However, this index follows the evolution of all listed shares with the exception of financial investment companies (SIF), which rose on average by over 86 percent this year, and contributed the most to the performance registered by mutual funds with exposure of the Stock Exchange.
Monetary funds posted returns of 11-14 percent in the first 11 months of this year, with all five such investment funds registering better results than in the whole of 2008. Assets of monetary funds rose RON 59 mln (€13.7 mln), but it was bond funds that were in the spotlight for the second month in a row.
Bond funds increased by more than RON 75 mln (€17.6 mln), with over 90 percent of this growth owed to the BCR Bonds fund, the third-largest fund on the market, with assets worth RON 599 mln (€140 mln), following BCR Monetar (€173 mln) and Raiffeisen Monetar (€132 mln).
Forecast for 2010
“Next year, bond funds should perform at least as well as in 2009, given the expectations regarding a resumption of the downward trend of interest rates on the banking and capital markets. Moreover, the financing need of the Ministry of Finance will continue to be high, keeping the opportunity window open for institutional investors,” said Nicolae Albu, Investment Manager of Erste Asset Management Romania, which administers the BCR Monetar and BCR Bonds funds.
