Romanian Open-End Funds' April Net Subscriptions At RON102.8M, Down 47.3% On Month

05.10.2011 By Andrei Circhelan

Romanian open-end investment funds drew net subscriptions worth 102.8 million lei (EUR25.14 million) in April, while the overall value of their net assets rose 1.3% on the month, to RON6.23 billion, according to data from fund manager association AAF.

At the end of March, the funds had an overall net asset value of RON6.155 billion.

The greatest increase in net asset value was registered by funds listed in the "Others" category in April, namely by 3.6% on the month, to RON3.6 billion. Runners up were bond funds, whose net asset value rose 2.4% on the month, to RON1.14 billion.

Since the beginning of the year, the "other" funds' assets rose 26.4%, while bond funds gained 19.7% in asset value.

Stock fund assets dropped 1.8% on the month in April, but were up 6.7% compared with end-December, at RON240 million.

The net asset value of diversified funds dropped 0.6% on the month, but was up 10.4% since the beginning of the year, at RON324 million.

Significant net subscriptions were posted by "Others" funds, namely RON49.5 million, followed by monetary funds with RON34.1 million and bond funds with RON20.1 million.

The net asset value of closed-end investment funds rose 4.7% on the month and 32.3% since the beginning of the year, to RON236 million.

Open-end investment funds had a total 231,780 investors at the end of April, 834 more than in March. Closed-end funds had a total 92,440 investors in April, from 92,425 the month before.

Erste Asset Management had the largest market share in April, namely 38.75% and assets under administration worth RON2.535 billion.

Second place went to Raiffeisen Asset Management, with a market share of 38.63% and assets worth RON2.52 billion, followed by BRD Asset Management, with a 9.4% market share.(EUR1=RON4.0885)