Mutual Funds' Assets at 694 Mln Leva End-March

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Mutual Funds' Assets at 694 Mln Leva End-March

Bulgarian collective investment schemes managed assets for 694.48 mln leva (355.08 mln euros) as at the end of March 2008, Profit.bg data show. The value of the assets went down by 65 mln leva (33.2 mln euros) last month.

The total value of the assets managed by the local collective investment schemes amounted to 890 mln leva (455 mln euros) as at the end of 2007.

DSK Growth and Capman Max, the biggest mutual funds in the country, managed 51.4 mln leva (26.3 mln euros) and 44.7 mln leva (22.8 mln euros) assets, respectively, as at the end of March.

Raiffeisen (Bulgaria) Balanced Fund and Raiffeisen (Bulgaria) Shares Fund followed with 42.3 mln leva (21.6 mln euros) and 41.2 mln leva (21 mln euros) assets, respectively.

Top 10 mutual funds in terms of assets as at March 31, 2008

RankNameAssets
1DSK Growth51,411,622,55
2Capman Max44,732,063
3Raiffeisen Balanced Fund42,388,934,74
4Raiffeisen Shares Fund41,213,920,19
5DSK Balance 38,247,488,71
6Advance Invest37,610,796
7Elana Balanced Euro Fund 34,790,439
8Elana Balanced $ Fund31,789,569
9UBB Premium Equity Fund28,484,594,15
10Elana High Yield Fund 23,119,277

* Data provided by the Bulgarian Stock Exchange, BAAMC and the asset management companies

DSK Balanace occupied the number five spot, followed by Advance Invest, Elana Balanced Euro Fund and Elana Balanced $ Fund.

UBB Premium Equity Fund and Elana High Yield Fund round out the top ten collective investment schemes in terms of assets. Each of the ten collective investments schemes manages assets for over 20 mln leva.

A total of 22 collective investment schemes in the country manage more than 10 mln leva each.

Invest Activ, Raiffeisen (Bulgaria) Balanced Fund and Elana Dollar Fund registered over 20% growth in assets each in March.

Advance Eastern Europe (21.6%), Status New Shares (20.8%), Advance Invest (18%) and Capman Max (17%) registered the biggest declines in assets last month.

Photo: BGNES/EPA

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