Assets of investment funds managed by members of the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSZ) rose 4.9% year-on-year to HUF 6.464 trillion in December, lifted by big end-of-year purchases of investment fund units, state news wire MTI reports.
Monthly data released by BAMOSZ show net purchases of investment fund units came to HUF 151.2 billion in December, pointing to a recovery after the Hungarian Government Securities Plus bonds for retail investors appeared to give BAMOSZ funds a run for their money.
The Plus bond, which pays an annualized yield of 4.95% if held for the full five-year maturity, has attracted record demand among retail investors since its launch in June and proven a formidable competitor for investment funds: between May and October, net redemptions of BAMOSZ funds reached HUF 327 bln. Only in November did BAMOSZ record net purchases again, albeit a slight HUF 12 bln.
The fresh BAMOSZ data show assets in money market funds plunged 87% to HUF 77 bln after a restructuring prompted by the application of stricter operating conditions under a European Union directive.
Assets in bond funds were up 53% at HUF 1,353 bln.
Assets in mixed funds increased by 23% to HUF 1.189 tln.
Assets in funds of funds were up 9% at HUF 1.380 tln.
Assets in absolute yield funds declined 6% to HUF 879 bln, while assets in real estate funds were practically flat at HUF 1.549 tln.
Assets in shares funds were up 23% at HUF 458 bln.