The figures available for the end of August reflect open-end funds which had combined net assets value of Ft 1,427 billion, representing 68% of the assets of Hungarian investment funds at the end of July. Excluding money put into so-called “funds of funds”, which are comprised of units from several funds, the new investments came to Ft 192 billion, equivalent to more than 10% of total assets in funds at the end of July, Temmel noted.
The two most popular types of funds were real estate funds, attracting Ft 114 billion in new investments in August, and liquidity funds, attracting Ft 86 billion. Both types of funds are thought to offer more security than other types, such as share funds, which attracted just Ft 14 billion in new investments. Other popular fund types were guaranteed funds, which attracted Ft 53 billion in new investments, and mixed funds, which drew in 43 billion last month.
Investors withdrew, however, Ft 50 billion from bond funds, probably because of uncertainty about Hungary’s economy. Excluding liquidity funds, Ft 30 billion was withdrawn from money market funds in August.
