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Investment fund assets fall in May

Assets of Hungarian investment funds edged down 0.5% to HUF 3,836 billion in May from a month earlier, falling on sales by both institutional and retail investors, the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSz) said on Wednesday.

Investors sold units worth HUF 26.3 billion in May, while yields added HUF 7.4 billion to the assets.

Assets in public share funds fell 3.2% to HUF 357 billion. Investors redeemed units worth more than HUF 10 billion and the funds had a negative yield of HUF 1.6 billion.

Guaranteed funds grew 1.4% to HUF 419 billion as investors bought HUF 6.2 billion of units but the funds lost HUF 490 million on price changes.

Assets in money market funds edged down 0.4% to HUF 1,359 billion. Units worth almost HUF 13 billion were redeemed but yields came to HUF 7.8 billion.

Bond funds grew 0.7% to HUF 308 billion. Investors bought HUF 1.3 billion of units and the funds had a yield of about HUF 800 million.

Investors were net sellers of units in property funds in May for the first time since August 2008, parting with units worth more than 1.5 billion. Assets in the funds still rose 0.3% to HUF 432 billion as yields came to HUF 2.8 billion.