The mutual fund industry in Bulgaria thrived until a year ago. Twelve months later it is a whole different story for the sector. The results of the collective investment schemes for the first six months of the year are indicative of this.

A total of ten mutual funds and investment companies posted positive return for the first half of the year. Elana Fund Money Market topped the ranking with 3.94% return for the period, data of the Bulgarian Association of Asset Management Companies (BAAMC) show.

DSK Standard occupied the second spot with a return of 3.94% for the past six months. TBI Eurobond ranked third with a return of 3.16%.

Standard Asset Management's funds Standard Investment International Fund and Standard Investment High Yield Fund provided 38.67 and 37.48% negative return for the period, respectively. Alfa Index Top 20 ranked third to last. The fund provided a negative return of 35.42% for the last six months.

See the table for more details on the performance of the collective investment schemes that have been operating for more than six months:

Mutual fund/Investment company6-month returnElana Fund Money Market3.94%DSK Standard3.16%TBI Eurobond3.02%CCB Garant2.62%Elana Eurofund2.55%Raiffeisen (Bulgaria) Bond Fund2.30%Raiffeisen (Bulgaria) Money Market Fund2.03%Sentinel-Rapid2.02%UBB Platinum Bonds 1.79%Advance IPO Fund0.60%Conservative Savings Contractual Fund -0.91%KD Bonds Bulgaria-1.42%FIB Garant-2.47%Mutual fund BenchMark Fund–1 Stocks and Bonds-3.34%Invest Classic-3.39%TBI Treasure-3.67%TBI Comfort-3.69%Somoni Eurostability-4.00%Alfa Index Imoti-8.01%Varchev Balanced Fund-8.23%FIB Classic-8.25%BenchMark Fund-3 Sector Real Estates -8.78%Elana Balanced Eurofund-10.84%TBI Harmony-11.09%Elana Balanced Dollar Fund-11.56%Sentinel Principal-12.43%Elana High Yield Fund-13.53%UBB Balanced Fund-13.82%DSK Balance-14.83%Invest Active-15.72%KD Pelican-16.44%FIV Avangard-17.20%Somoni Strategy-18.47%Zlaten Lev-18.68%Raiffeisen (Bulgaria) Balanced Fund-19.18%CCB Active-19.52%Varchеv High Yield Fund-19.67%CCB Leader-20.02%Advance Eastern Europe-20.16%Capman Capital -20.45%Ug Market Maximum-21.31%TBI Dynamic -22.03%BenchMark Fund-2-23.37%Aktiva Balanced-24.38%Synergon Prestige-24.51%Synergon Profit-24.62%Alfa Selected Shares-25.08%UBB Premium Equity-25.98%Status Finance-26.53%Status New Shares-26.80%DSK Growth-27.79%Raiffeisen (Bulgaria) Equity Fund-28.27%Advance Invest-28.64%Standard Invest Balanced Fund -28.67%Capman Max -28.85%Europe-29.97%Somoni Progress-30.08%KD Equity Bulgaria-31.40%Aktiva High Yield -32.10%Alfa Index Top 20 -35.42%Standard Invest High Yield Fund -37.48%Standard Invest International Fund -38.67

Source: BAAMC (data as at June 30)