Investment Funds’ Assets Rise 14% to 487 Mln Euro in 2012

Investment Funds’ Assets Rise 14% to 487 Mln Euro in 2012

Investment funds operating in Bulgaria had 952.4 million levs ($649 million/487 million euro) in assets under management at the end of 2012, up 13.9% from a year earlier, central bank statistics showed.

Total assets managed by the investment funds active in the Balkan country was equivalent to 1.2% of its gross domestic product (GDP) at the end of last year, up by one percentage point from the end of 2011, the Bulgarian National Bank (BNB) said.

Domestically-owned investment funds managed 401.3 million levs of assets out of the total at the end of December, up by 5.3% from a year earlier.

In 2011, assets under management of investment funds in Bulgaria decreased by 4.7% to 836.1 million levs.

A total of 81% of the end-2012 investments of local funds were made on the domestic market with a 10.7% exposure to other EU member states and a 2.5% exposure to countries in southeastern Europe other than Bulgaria.

Equities accounted for the the biggest part of local funds' investment portfolio (38.1%), followed by bonds, which accounted for 36.6% of total assets at the end of last year.

There were 410 investment funds operating in the country at the end of December, including 101 domestically-owned. This compared to 346 investment funds, including 98 domestically-owned, a year earlier.

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