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Investment fund assets edge up 1.6% in October

Assets in investment funds managed by members of the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSZ) edged up 1.6% to HUF 3,535bn in October from the previous month, BAMOSZ said on Tuesday.

Assets rose on higher share prices, BAMOSZ said. Assets in share funds grew 8.7% to HUF 265bn during the month.

Assets in money market funds came to HUF 1,312bn at the end of October, little changed from the end of September.

Assets in bond funds were down 1.8% at HUF 354bn. Yields could not counter the conversion of fund units.

Assets in guaranteed funds edged down 0.5% to HUF 425bn, mainly because a closed-end fund matured.

Assets in property funds slipped 0.4% to HUF 410bn.