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Investment funds shrink more than 5% in August

Assets in investment funds managed by members of the Association of Hungarian Investment Fund and Asset Management Companies (BAMOSZ) fell 5.1% to HUF 3,489 billion in August from the previous month as share prices fell and units that were part of assets transferred from private pension funds to the state were converted, BAMOSZ said on Thursday.

Pullouts from the funds came to HUF 110 billion in August, albeit less than the HUF 130 billion in July. The funds had a net loss of HUF 76.8 billion on price changes.