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Investment fund assets hardly change in June

Assets in Hungarian investment funds rose a slight 0.1% to Ft 2,084 billion in June compared to May, according to figures compiled by the Hungarian Association of Investment Funds and Asset Managers (BAMOSZ).

Guaranteed funds grew the most in June, attracting new investments of Ft 23 billion. Real estate funds also continued to expand, becoming the second-biggest type of fund after bond funds, out of which investors took Ft 39 billion in June. Money market funds attracted Ft 3 billion in new investments in June, and they registered Ft 2.2 billion in yields, boosting total assets in the funds 0.8% to Ft 677 billion. Real estate funds grew 2.2% to Ft 425 billion, as the result of almost Ft 6 billion in fresh investments and Ft 3.2 billion in yields. Bond funds contracted 9.8% in June to Ft 401 billion, continuing a trend started in October. The funds had losses of Ft 4.5 billion in June on top of the Ft 39 billion net withdrawals. Seven new guaranteed funds were started in June and one fund matured, leaving 54 guaranteed funds on the market with combined assets of Ft 176 billion, or 8.4% of all investment fund assets. Assets in guaranteed funds increased 13% in June as the combined result of Ft 23 billion in new investments and Ft 2.9 billion in losses. Assets in share funds rose 6.8% to Ft 228 billion in June, as the result of Ft 5.5 billion in new investments and Ft 9 billion in yields. The fastest-growing share funds were those investing only in Hungarian shares, while money was actually withdrawn from those investing in foreign shares. Assets in mixed funds fell, for the first time in 2006, 4.2% to Ft 101 billion. Investors took Ft 4.9 billion out of the funds, but recorded a Ft 436 million yield.