Thus, in September 2021, investors withdrew RON67 million from investment funds, with the largest sum taken out from bond funds, namely RON175 million.
“Rising interest rates have hurt bond fund yields in the short term, which accounts for September withdrawals, but this evolution is a positive for fixed-income fund performance on the longer term and I believe in the future this segment will regain its appeal”, says Adrian Cojocar, Patria AM.
On the other hand, in September 2021 equity funds posted inflows, which shows on the one hand a possible shift away from bond funds, and on the other hand that the current government crisis is not scaring away those who like investment risk.
Since the start of 2021 until September, mutual fund inflows have revolved around RON2.6 billion, in line with data provided by the Romanian Association of Fund Managers. In the same period of 2020, withdrawals amounted to some RON4 billion, a record high sum.
(English version by Catalina Apostoiu)