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Hungary investment funds draw fresh capital of HUF 57 billion in April

Hungarian investment funds continued the positive trend seen in the past six months, drawing fresh capital of HUF 57 billion (€202.15 million) in April , the latest figures from the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSz) show.

The assets of investment funds rose to HUF 3,425 billion at the end of April.

Following a 21% decline in 2008, the market grew 19% last year, which was followed by further growth of 14% by the end of April, BAMOSz general secretary András Temmel told journalists on Thursday. The renewed popularity of investment funds was due to the return of the confidence in capital markets and the banking system as well as the good performance of capital markets and lower interest rates.

Fresh capital came again from retail investors while stock fund investors, who are mainly institutional investors were rather taking profits, Temmel said.

Fresh capital invested into the funds in January-April exceeded HUF 300 billion, level with the value of new investments made in the second half of last year. More than 90% of the capital inflow was due to retail investor confidence, the general secretary added. (MTI-Econews)