14 Mutual Funds with More than 50% Investments in Bulgarian Equity

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In the end of 2006 a total of 14 mutual funds accounted for more than 50% of total investments of Bulgarian capital securities, Financial Supervision Commission data showed.

Three of the funds – Alfa Index Top 15, Standard Investment High-Yield Fund and BenchMark Fund-3 have invested more than 80% of their assets in Bulgarian issuers, while another two funds – Europe and Standard Investment Balanced Fund, have 79.19% and 74.15% equity investments respectively.

Capman has invested a little over 65% in local companies. Last year the fund achieved the record yield of 100.10%.

Ug Market Maximum ranks sevenths with 62.63% of its assets invested in equity of local issuers.

Alfa Index Imoti, DSK Growth and Elana Balanced Eurofund also made it in the top 10, as well as TBI Dynamic, KD Equity Bulgaria, BenchMark Fund-1 from the BenchMark Asset Management group, and Elana Balanced $ Fund from the Elana Fund Management group.

Number one by investment in foreign equity is Advance Eastern Europe with 69.58% of its assets, followed by Status New Equity and KD Equity Bulgaria with 35.16% and 16.64% respectively.

As of 31 December Bulgarian mutual funds had 45.33% investments in Bulgarian securities, 18.31% in bonds, 28.22% cash, incl. Bank deposits of 21.03%, and 4.84% investments in foreign securities.

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