A total of 156 investment fund operate in Bulgaria, statistics by the Bulgarian National Bank reveals. 81 of them are foreign-owned and 75 are local. 16 new funds were launched in the past three months.

The funds control a total of 950.4 mln leva (485.9 mln euros) as at 31 March 2008. Bulgarian funds control 665.7 mln leva (340 mln euros) and the foreign ones have 284.6 mln leva (145.5 mln euros).

The Bulgarian funds have a little over 57% of assets (382.7 mln leva, 195.6 mln euros) in shares, and 89.4 mln leva (45.7 mln euros) invested in other securities. Their deposits total 161.7 mln leva (82.6 mln euros) and they own stake sin other funds worth 89.4 mln leva (45.7 mln euros).

89% of assets (439.1 mln leva, 224.5 mln euros) is kept in Bulgaria, 26.2 mln leva 13.3 mln euros) in the EU and 12.2 mln leva (6.2 mln euros) in other Balkan countries.

Funds investing in shares have the largest relative share in all (58.2%) as at 31 March 2008, against 63.1% on 31 December 2007 and 53.2% on 31 March 2007. the share of balanced funds stands at 34.3%, compared with 30.9% in December and 35% a year ago.

Assets denominated in BGN have the largest share in the currency structure of local funds (81.2%), versus 82.1% in December, with assets in EUR accounting for 13.2% (11% at the end of 2007).

The main investors in the foreign owned funds as at end of Q1 are insurance companies and pension funds (54.3% against 49.8% at the end of 2007), followed by households and NPISH (39.1%, down from 41.5% at the end of 2007).