Assets of Romanian mutual funds down 21% y/y
The assets of open-end investment funds distributed on the local market decreased by 21% y/y at the end of March to RON 17.6 bln (EUR 3.5 bln), said Jan Pricop, executive director of the Association of Fund Managers (AAF).
The decline took place amid the instability of markets and news at the macro level, he explained.
"If we summarize the evolution of the 2023 assets in Q1, we see that we have an annual decrease of almost 21% and a slight increase compared to the end of 2022. Net inflows were still negative, so we had net outflows, namely redemptions that exceeded the value of subscriptions. But they have diminished strongly, we are talking about net outflows of RON 220 million," explained Jan Pricop, quoted by Ziarul Financiar.
In terms of the number of investors at the end of March, there were 483,821 investors, a 6% increase compared to March 2022, respectively 5% compared to the end of 2022.
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