Members of the Hungarian Association of Fund and Asset Managers (BAMOSZ) managed assets in funds of Ft 2,084 billion at the end of June, 11% more than at the end of 2005 and 0.6% more than at the end of March, BAMOSZ announced on Friday.
In the second quarter of the year, assets in investment funds fell because of negative yields. Closed-end securities funds, however, reported combined yields of Ft 1.5 billion. Assets in money market funds and short- and long-term bond funds recorded big withdrawals in the second quarter of the year. During the same period, funds in the "other" category and guaranteed funds grew the fastest, by 49% and 47.5%, respectively.
BAMOSZ members managed assets of Ft 2,437 billion at the end of June. Including assets in funds, members managed Ft 4,520 billion. Assets of pension and health funds accounted for 58.4% of invested assets, assets of insurers for 33.1% and assets of other parties for 8.5%. About 76% of assets was in domestic government securities and T-bills, 6.7% was in domestic shares, 9.4% was in foreign shares and 0.8% was in real estate. Investment fund units accounted for 12% of BAMOSZ members' portfolio, of which two-thirds were units of BAMOSZ members' own funds.
BAMOSZ members started 26 new funds in H1, including 16 in Q2. The funds had yields of more than Ft 58 billion in H1, including Ft 7 billion in Q2. BAMOSZ members managed 196 funds at the end of June, a significant part of which were public open-ended funds. Special funds were mostly closed-end, and there were just 8 funds which were not available for public subscription. Public open-ended funds accounted for 69% of all assets at the end of June, down from 84% a year earlier. Assets in public open-ended real estate funds accounted for 20% of all assets at the end of June, compared to 9% a year earlier. Assets in BAMOSZ members' 112 open-ended securities funds came to Ft 1,429 billion at the end of June, 4.4% less than at the end of March, but 3.2% more than at the end of 2005.