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Investment fund assets drop in March

Assets in Hungarian investment funds fell 1.7% to HUF 3,823 billion by the end of March from a month earlier after rising for twenty months, the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSZ) told MTI on Friday.

Withdrawals from investment funds totaled HUF 47.4 billion in March, while negative yields reduced assets by a further HUF 17.2 billion.

Assets managed in open-ended securities funds, which account for 57.8% of all investment fund assets, fell 1.9% in March. Investors sold HUF 39 billion of units in the fund, and negative yields reduced assets by a further HUF 3.3billion.

Assets in public shares funds fell 6.2% to HUF 376 billion in March as withdrawals came to HUF 18.6 billion and negative yields reduced assets by more than HUF 6billion.

Money market funds contracted 1.6% to HUF 1,354 billion. Investors sold close to HUF 23 billion of units, but yields came to HUF 1.3 billion.

Assets in guaranteed funds grew 2.6% as the funds attracted HUF 12.8 billion in fresh capital, but they had negative yield of HUF 2.2 billion.

Assets in property funds drew fresh capital of HUF 290 million in March, but the funds had negative yield of HUF 330 million. As a result, these funds had assets of HUF 429 billion at the end of March, unchanged from a month earlier.