Hungarian investment fund assets fall 3.1% in July
Assets in Hungarian investment funds edged down 3.1% to HUF 3,675 billion in July from a month earlier, the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSZ) said late on Monday.
Withdrawals from the funds came to HUF 130 billion, while yields added HUF 10.7 billion to the value of assets by the end of the month.
Assets in open-ended securities funds fell 3.6% on withdrawals of HUF 64 billion, while yields added HUF 12 billion to the value of investments.
Assets in share funds slipped 12.5% to HUF 305 billion, due to withdrawals of HUF 42 billion, while yields added HUF 1.4 billion to the value of assets.
Bond fund assets grew 21.7% to HUF 377 billion. The funds attracted fresh funds of more than HUF 500m and had yields of HUF 3.3 billion. Among short-term bond funds, which account for 60% of the category, assets grew more than 40% as these funds attracted fresh capital of HUF 1.2 billion in July and had yields of HUF 1.6 billion.
Money market funds dipped 5.8% to HUF 1,271 billion as investors took out HUF 22.7 billion but yields came to HUF 7.8 billion.
Property funds had HUF 410 billion of assets at the end of the month. Investors sold HUF 1.9 billion of units but yields were HUF 2.6 billion.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.