The available cash of the 10 biggest funds in Bulgaria amounted to 81.439 mln leva (41.639 mln euros) at the end of January, Profit.bg found out after studying the reports filed by the funds on January 31.
The ten fund's total assets stand at 413 mln leva (211 mln euros), which means their available cash comes to nearly 20% of them. The figure above includes the 10% minimum reserve required by regulations.
We must note that the “available cash” in the reports includes cash, money in deposit accounts and blocked funds.
If we exclude the funds which are not available for investing, the cash left would amount to 40.14 mln leva (20.523 mln euros), or 9.7% of assets.
According to the' financial reports, just three funds have available cash in the amount of more than 20% of assets.
The first of those is Elana Balanced Dollar Fund. It had 8.14 mln leva (4.161 mln euros) in cash at the end of January, which is 25.6% of assets (31.764 mln leva, 16.24 mln euros).
Number two is Advance Eastern Europe with 5.11 mln leva (2.612 mln euros) or 21.77% of assets.
Elana Balanced Fund is third with 7.29 mln leva (3.727 mln euros), which accounts for 21.45% of assets.
DSK Rastej, which is the largest fund in Bulgaria in terms of assets (58.63 mln leva, 29.97 mln euros) has just 9% (5.28 mln, 2.69 mln euros) of it in available cash. The second largest fund in Bulgaria – Capman Max has even less – 0.37% of assets, which puts it at the bottom of our chart.
More information is given in the following table:
*the figures do not include the 10% minimum required reserve
Assets in BGN
% of assets
|Elana Balanced Fund||31764260||8141887||25,63%|
|Advance Eastern Europe||23479642||5110579||21,77%|
|Elana Balanced Eurofund||33998467||7292838||21,45%|
|UBB Premium Shares||31454623||1909495||6,07%|
|Raiffeissen Balanced Fund||44939821||2200326||4,90%|
|Raiffeissen Shares Fund||45159578||1613911||3,57%|