Ten Funds Lost More Than 15% In A Month

Ten Bulgarian mutual funds report losses of more than 15% in January, statistics by Profit.bg shows. Eight of the ten schemes are of the aggressive type, the only two exceptions are DSK Rastej and Synergon Prestige.

All funds reporting gains during the period are balanced or low-risk.

The main reason for the disappointing result is the massive buying back by small and large investors, as well as the recent correction on BSE.

This had a negative effect on the amount of assets controlled by the funds, which at the end of January totaled 735 mln leva (375 mln euros), versus 880 mln leva (449 mln euros) and 905 mln leva (462 mln euros) for December and November 2007 respectively.

There are just two asset management companies in Bulgaria with assets of more than 100 mln leva – DSK Asset Management and Elana Fund Management.

№FundDecline1Alpha Index Top 2020,23%2Standard Inv International Fund19,19%3Capman Max18,98%4KD Shares Bulgaria18,43%5Standard Investment high-Yield Fund17,38%6Somoni Progress16,57%7DSK Rastej16,11%8Synergon Prestige15,48%9UBB Premium Shares15,10%10Europe15,06%