The amount is twice as low as the RON1.7 billion placed in funds in 2010.
The over 60 mutual funds ended 2011 with a wealth of RON7.885 billion.
The assets of local funds grew 23% to RON6.78 billion, to which the RON1.2 billion managed by ING are added. ING has the funds registered in Luxembourg, but manages them locally.
The most attractive funds for investors were bond funds and money market funds, which drew in more than RON1 billion in net subscriptions.
As they invest their clients’ money in government bonds and bank deposits, mutual and bond funds are low-risk funds, offering yields close to those of bank deposits.
However, the stock exchange decline saw money flow out from balanced and equity funds in 2011, as investors looked for safer placements. (EUR1=RON4.3322)
(English version by Daniela Stoican)