The assets managed by the resident and non-resident investment funds, operating in Bulgaria, amounted to BGN 690.7 million as at September 30, 2008, decreasing by BGN 449.4 million (39.4%) against BGN 1 140.1 million as at September 30, 2007, data of the Bulgarian National Bank (BNB) show. Compared to June 30, 2008 the assets decreased by BGN 211.1 million (23.4%) from BGN 901.8 million.

The assets of the resident investment funds amounted to BGN 451.1 million as the end of September 2008, which is a decrease by BGN 450.2 million (50%) compared to a year earlier. Compared to June 30, 2008 the assets decreased by BGN 160.9 million (26.3%) from BGN 612 million.

Equity funds assets decreased by BGN 110.1 million (31.3%) from BGN 352.1 million (30.06.2008) to BGN 241.9 million (30.09.2008). Mixed funds assets decreased by BGN 53.5 million (25.2%) from BGN 211.8 million (30.06.2008) to BGN 158.4 million (30.09.2008).

Equity funds held the highest share of the overall assets of resident investment funds as at September 30, 2008 (53.6%) against 57.5% on 30.06.2008 and 63.5% a year earlier. Mixed funds held 35.1% as of 30.09.2008 against 34.6% on 30.06.2008 and 30.5% on 30.09.2007 respectively.

The largest share among the instruments included in the portfolio of resident investment funds as at September 30, 2008 belonged to shares and other equity (50%) against 55.3% a year earlier, followed by deposits (24.4%) and securities other than shares (19.3%).

The currency breakdown of the resident investment funds assets as at the end of September 2008 was prevailed by assets denominated in BGN (76.1%) and EUR (18.2%).

As to the geographical breakdown the securities assets were mainly allocated to the domestic market, where 88.6% of the investments of resident investment funds were concentrated as at September 30, 2008, compared to 89% three months earlier.

Non-resident investment funds` liabilities to residents amounted to BGN 239.6 million as at September 30, 2008 , decreasing by BGN 50.3 million (17.3%) compared to end of the second quarter.

The institutional sector breakdown of investors in non-resident investment funds shows the prevalence of Insurance Corporations and Pension Funds (50.8%) and Households and Non-profit Institutions Serving Households (40.7%).

The liabilities of resident investment funds amounted to BGN 451.1 million as at the of September 2008.