Top performer among mutual funds is equity fund Certinvest BET-FI Index, with an 8.27% yield from December 31-January 19, according to the data provided by fund managers to ZF.
This fund invests in the stocks part of the BET-FI index, i.e. the five regional investment funds (SIFs) and Fondul Proprietatea (FP.RO). BET-FI has increased by 8.42% since the beginning of this year. Certinvest BET-FI’s yield is lower than the increase of the index, but higher than the about 6.5% yearly interest that banks pay for a deposit at the beginning of 2012. On the other hands, bank deposits are guaranteed, whereas equity funds are not.
Second top performer is share fund Raiffeisen Prosper, with a 7.68% yield. The fund invests more than half of its assets (24.5 million lei) in international investment funds. Third leading fund, whose yield stood at 5.94% is another equity fund, KD Maximus, which invests in oil and banking stocks listed on the Bucharest Stock Exchange, as well as on foreign markets.
Although the most profitable equity funds generated higher yields than banking interests, they were still behind the profits generated by a series of stocks that have risen by as much as 38% at the beginning of this year. For instance, shares of PVC trim maker Teraplast Bistrita (TRP.RO) went up 38%, piping maker Zimtub Zimnicea’s (ZIM.RO) rose by 24.5%, while SIF Moldova (SIF2.RO) increased by over 22%.
Share funds had started 2011 on the right foot, as well, generating up to 10% yields in January only to go down in the months that followed once situation deteriorated in the euro zone and end 2011 with losses.
Less risky funds, such as money market and bond funds, are seeing no more than 0.5% in yields at the beginning of this year. They generated the highest yields, of up to 14%, in 2011, as they do not invest customers’ money into stocks but into fixed-income instruments such as banking deposits, government securities and bonds.
Top performer among money-market funds was Raiffeisen RonPlus, 0.36% in yield from December 31-January 19, while the leading bond fund was OTP Obligatiuni, 0.44%.
At the bottom end of the ranking are those that bet on a decline of the stock markets; Certinvest Short Fund, -6% since the beginning of the year, Omnitrust and Omninvest, -1.8% and -1.15%, respectively.
Top performing mutual funds in 2012
| Fund name | 2012 yield | Number of investors | Net asset (million lei) |
| Certinvest BET-FI Index | 8.27% | 17 | 1.2 |
| Raiffeisen Prosper | 7.68% | 936 | 24.5 |
| KD Maximus | 5.94% | 768 | 30.3 |
| Raiffeisen Romania Actiuni | 5.64% | 430 | 13.5 |
| Certinvest XT Index | 5.25% | 19 | 0.9 |
| BT Index Austria ATX (in euros) | 4.95% | 84 | 1.8 |
| OTP AvantisRO | 4.80% | 239 | 8.2 |
| BRD Index Europa Regional | 4.60% | 7 | 2.1 |
| Active Dinamic | 4.48% | 2,000 | 8.9 |
| Actiuni Europa Regional | 4.45% | 116 | 13.0 |
| BT Maxim | 4.23% | 1,926 | 43.1 |
| BCR Expert | 4.08% | 1,067 | 10.8 |
| Certinvest Dinamic | 3.92% | 1,424 | 8.1 |
| iFond Actiuni | 3.85% | 10 | 0.4 |
| Certinvest BET Index | 3.75% | 6 | 0.5 |
| Transilvania | 3.46% | 722 | 18.7 |
| Raiffeisen Benefit | 2.99% | 389 | 19.7 |
| Napoca | 2.99% | 1,242 | 8.8 |
| BT Index Romania ROTX | 2.86% | 401 | 10.6 |
| Raiffeisen Confort | 2.63% | 576 | 18.7 |
Source: asset managers, zf.ro
(English version by Loredana Fratila-Cristescu)