The top six funds saw increases above the inflation rate recorded in June 2023, respectively 10.3%, in line with calculations by Ziarul Financiar (ZF) daily based on data from the Association of Asset Managers (AAF)
By comparison, the BET-BK reference index for fund managers and other institutional investors, grew 4.4% during the analyzed period, while the main BET index rose 1.5%, as per ZF calculations based on data from the Bucharest Stock Exchange.
Thus, BT Technology, the fund managed by BT Asset Management with net assets of RON44.3 million under management, reports a 15.4% yield for the last 12 months, which is the biggest level among the funds analyzed, and a 23.8% yield for the last 36 months.
BRD Global Clasa U, a fund managed by BRD Asset Management with net assets of RON11.6 million under management, ranks second with a 12.6% yield over the last year.
The ranking also lists BT Maxim managed by BT Asset Management, with RON211.1 million in net assets, which reports a 12.3% yield for the last 12 months. The BT AM fund reports a 48.5% increase for the last 36 months. The next two spots are taken by OTP Innovation (11.9%) and OTP Innovation – E (11.5%), which are managed by OTP Asset Management, with assets of RON3.7 million and RON1.6 million under management, respectively. The funds have been launched relatively recently, therefore, no yields are reported for the last three years.
The other spots are held by Goldman Sachs Romania Equity (10.4%), Raiffeisen Romania Dividend (10.1%), BT Index Austria ATX (9.8%), Fondul Deschis de Investitii GlobUS BlueChips (9.7%) and BRD Actiuni Clasa A (9.3%).
End-April 2023, the mutual fund industry had 24 local open-end equity funds, with a total 58,823 investors. AAF data show that the ten largest investment management companies in Romania had net assets of RON18.2 billion under management at the end of June 2023, up 4.9% from end-2022 and down 7.3% compared to mid-2022. The top three companies had a combined RON10.2 billion, accounting for over 60% of the total reported by the top ten companies.