Romanian Equity Funds Lose 25% of Clients' Money

Romanian Equity Funds Lose 25% of Clients' Money

Equity funds in Romania lost over a quarter of investors' money in the first six months of the year, after only 2 out of the 14 schemes managed to lose less than 25%, Ziarul Financiar reported.

The average performance of the 14 over six month-old equity funds stood at minus 30% in the first half of the year, depreciation similar to that reported on the Stock Exchange during the same period.

The BET-C index, which reflects the overall price trend of Stock Exchange-listed companies, appreciated 29% in the first six months of the year, while the index of the five financial investment companies - BET-Fi, lost almost 40%.

The difference between the best performing and the worst performing fund is significant. Investica Altius, managed by Investica Asset Management, closed the first half with a 19.3% decline, while the industry's worst performer, Raiffeisen Romania Actiuni, managed by Raiffeisen Asset Management, reported a 39.1% depreciation.

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