Three Bulgarian funds have invested more than 50% of their assets in foreign stock, according to September 30 data. These are Status Finance, Advance Eastern Europe, and Status New Shares.
The exact figures are 84.43% for Status Finance, 78.59% for Advance Eastern Europe, and 57.57 % for Status New Shares. Status Finance has invested primarily in Serbian (27.93%), and Croatian stocks (25.93%).
The fund also holds investments in Turkey, Belgium, Greece, Romania, Austria, and Hungary. At the end of September, Status Finance's assets stood at 3,282,720 leva (1.678 mln euros).
78.59% of assets of Advance Eastern Europe is in foreign stock. Russian companies prevail in the portfolio with 37.45%, followed by those from Serbia – 19.61%.
The fund also invested in Croatian (8.16%), Romanian (7.03%), and Ukrainian stocks (6.34%). Total assets of Advance Eastern Europe amount to 28,768,477 leva (14.709 mln euros).
Foreign stocks take up 54.55% of the portfolio of Status New Shares. Of these, 25.64% are Croatian issues, 16.78% Serbian, and 12.04% Romanian. Last month total assets of the fund stood at 20,513,332 leva (10.488 mln euros).
Besides these three schems, there are another 13 mutual funds which are also very active in investing abroad. These are Standard Investment International Fund (41.02%). The fund's total assets amount to 4,036,899 leva (2.064 mln euros).
Others are Advance Invest (16.43%), KD Shares Bulgaria (16.09%), Sentinel-Principal (14.81%), and BenchMark Fund-2 AD (10%).
|№||Fund||% of Assets|
|2||Advance Eastern Europe||78,59%|
|3||Status New Shares||54,55%|
|4||Standard Investment International Fund||41,02%|
|6||KD Shares Bulgaria||16,09%|
|8||BenchMark Fund – 2||10,00%|
|9||Standard Investment High-Yield Fund||7,41%|
|12||Raiffeissen Balanced Fund||5,37%|
|14||Raiffeissen Bulgaria Shares Fund||2,96%|
|18||Elana High-Yield Fund||0,98%|
|19||Elana Balanced $ Fund||0,62%|
|20||Elana Balanced EuroFund||0,61%|
Other funds, among which Elana, are considering diversification of their portfolio with shares of companies from the region.
At the end of September Bulgarian funds managed a total of 882.5 mln leva (451.2 mln euros), versus 724.796 mln leva (370.582 mln euros) at the end of August, and 630.86 mln leva (322.553 mln euros) at the end if July, and are projected to grow to 1 bln euros by the end of the year.