Fund assets increase 22.3% in Q3

Assets in funds managed by the Hungarian Association of Fund and Asset Managers (Bamosz) rose 22.3% to Ft 2,549 billion in the third quarter of 2006, Bamosz announced on Tuesday.

Bamosz members’ assets increased 35.8% in January-September. Investors put Ft 426 billion into Bamosz funds in Q3, including Ft 400 billion before the capital gains tax was raised from 0% to 20% on September 1. In January-August, investors put Ft 576 billion of fresh capital into funds. Yields came to Ft 38 billion in Q3 and Ft 96 billion in Q1-Q3.
Public open-ended securities funds accounted for 63.5% of assets in funds, down from 84% at the end of 2004. The proportion of assets in public open-ended real estate funds rose to 23.5% from 9% during the same period. Assets in real estate funds increased 43% in Q3 and 68% in Q1-Q3 to Ft 607 billion at the end of September.
Assets in shares funds rose 26.2% to Ft 288 billion in Q3 as the result of Ft 53 billion in fresh capital and yields of Ft 7 billion. Assets in the funds were up 76.6% compared to the end of 2005.

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