Retail savings in the stock of deposits rose 3.5% in Q4, 2010 from the previous three months, while institutional savings picked up only 0.3% in the same period, the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSz) said in its latest report.
This was the first time in many months when the proportion of institutional savings fell short of retail savings, said BAMOSz secretary general András Temmel.
The full stock of deposits was HUF 9,688 billion on market value at the end of last year. BAMOSz-managed investment funds contained net assets of HUF 3,763 billion, while assets managed in the register, based on data received from eight custodian banks, added up to HUF 5,925 billion.
The stock of foreign shares rose at BAMOSz-managed funds, while domestic share stocks decreased in the period.
Nearly 66%, of the stock is managed for funds, mainly for pension funds. About 30% of fund portfolios were invested through investment funds in the last three months of 2010. This shows that foreign investments are still realized through investment funds as they offer more cost effective solutions with better risk management, the report concludes.