The decline of deposit interest rates pushed many Romanians to take money out of their deposits and go for more profitable savings alternatives.
The over 60 mutual funds registered in Romania reached assets of RON12.2 billion (EUR2.7 billion) at the end of November, according to statistics of the Association of Fund Administrators (AAF). In November mutual funds attracted RON777.8 million in net amount from investors, double as much as in October and around one third of the total net amount attracted in January – October.
The net inflows reported last month represent an all-time monthly high for the sector, which has almost twenty years behind it.
The funds attracted RON3 billion in the first 11 months of the year.
So 2013 has every chance of becoming the best year in Romanian history for mutual funds in terms of amounts attracted from investors.
In 2012 and 2011 the funds had net inflows of RON2.5 billion.
(English version by Daniela Stoican)