Return of Nine Collective Investment Schemes Outpaces Inflation Rate for Apr 2007–Apr 2008 Period

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Return of Nine Collective Investment Schemes Outpaces Inflation Rate for Apr 2007–Apr 2008 Period

Nine of the 43 mutual funds and investment companies in Bulgaria that have been operating for over a year provided a return for the 12 months outpacing the country's official inflation rate figures in the period March 2007 - March 2008. The inflation rate in Bulgaria stood at 13.2% in the period, ranking the country second in the EU behind Latvia in terms of highest annual inflation.

Profit.bg conducted a check-up on the net value of the assets of collective investment as at April schemes and cthe change compared to March, as well as on the return of the schemes for the first for months of the year and for the last 12 months, in cases where data was available and the schemese have been operating for over a year.

Conservative-balanced and balanced collective investment schemes occupied five of the top ten spots in the ranking in terms of return. Aggressive and conservative collective investment schemes followed with second biggest number of representatives in the ranking.

Among the balanced collective investment schemes Capman Capital provided the highest return of 27.5% for the period April 2007 – April 2008.

Capman Capital managed assets worth 12.94 mln leva (6.61 mln euros) as at the end of April 2008. The figure represents a decrease of 6.63% compared to the end of March. Capman Capital has provided negative return of 23.6% so far this year.

TBI Harmony ranked second in terms of return in the period April 2007 – April 2008 with 21.32%. The value of the assets of the fund has declined by 3.46% to 12.88 mln leva (6.58 mln euros) in the period March-April 2008. TBI Harmony's return since January 2008 has also been negative at 10.53%.

Elana Balanced $ Fund (+18.79%) and Elana Balanced Euro Fund (+17.09%) ranked third and fourth, respectively, in terms of return for the period April 2007 to April 2008. The net value of the assets of Elana Balanced $ Fund amounted to 27.85 mln leva (14.3 mln euros) as at the end of April 2008, compared to 31.79 mln leva (16.25 mln euros) a month earlier. The fund provided negative return of 11.02% for the first four months of this year.

Elana Balanced Euro Fund had 28.79 mln leva (14.72 mln euros) assets as at the end of April 2008, down by 17.25% compared to the end of March 2008. The fund has provided a negative return of 10.63% so far this year.

BenchMark Fund-1 ranked fifth with 16.18% return for the period April 2007 to April 2008. The net value of the assets of the fund totaled 3.71 mln leva as at the end of April 2008. The value of the assets of the fund stood at 3.99 mln leva (2.04 mln euros) a month earlier. BenchMark Fund-1 has provided a negative return of 3.78% so far this year.

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