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Investment funds grow slower in September

Investment fund assets managed by Hungary's fund managers grew by Ft 100 billion or 5.7% month on month in September to Ft 1,876 billion, the Association of Hungarian Fund Managers (BAMOSZ) said in its monthly report on Tuesday. The month-on-month rise was 6.9% in August, and growth since the beginning of the year reached 76.3%.
Of the monthly Ft 100 billion increase, Ft 80 billion was generated by new investments and the yield of the funds contributed to the rise by Ft 20 billion.
The number of investment funds grew by three to 157, 104 of which were open-ended funds, which held 79% of total assets in September, the same as in the previous month.
The five closed-ended funds' assets went up by 2.8% to Ft 43 billion in September.
Assets in bond funds expanded by more than those of money market funds. Their assets grew by 7.2% in September to over Ft 690 billion.