Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
Follow:
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
NEWS BY TOPIC
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
NEWS BY SECTOR
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Bulgaria’s mutual funds assets clear BGN 600m mark
BULGARIA’S MUTUAL FUNDS ASSETS CLEAR BGN 600M MARK
Date: 03/09/2010
Source: Dnevnik
Bulgaria’s mutual funds assets clear BGN 600m mark

For the first time since end-2009, Bulgarian mutual funds experienced pick-up in the volume of managed assets, posting a 4% rise to BGN 618 million in August.

The figure represents a BGN 26 million increase on the July level, shows data by the Bulgarian Association of Asset Management Companies (BAAMC) and market players.

Domestic schemes attracted approximately BGN 8 million in fresh assets in the eight month of the year, with foreign schemes, led by Pioneer, scooping up around BGN 18 million more.

However, few made capital profits as markets were roiled by some of the worst months of the year, which means that more cash poured into the schemes.

The uptick in assets managed by Bulgarian mutual funds could be traced back mostly to the rebalancing of portfolios of professional and institutional investors, said Yavor Achev, Pioneer Investments’ manager for Bulgaria. He revealed that august brought the first net sales through the scheme’s savings plan, an investment product which enables customers to park monies with mutual funds through a series of small monthly payments.

In August, the net assets of the Pioneer funds marketed in Bulgaria increased by approximately BGN 18 million to BGN 183 million as at August 20.

Pioneer Investments retained its market lead, followed by Raiffeisen Asset Management and Elana Fund Management. The top five players hold slightly more than 60% of the sector’s total assets.

The combined mutual fund market has swelled by nearly 12% to BGN 618 million since January.




Topic: Financial



Featured District
HASKOVO DISTRICT AND CITY INFORMATIONHaskovo
Invest Bulgaria Charts
FDI to Current Account Deficit of Bulgaria
FDI to Current Account Deficit of Bulgaria

Foreign assets of Bulgaria
Foreign assets of Bulgaria

See all charts
Did You Know?
Bulgarian Name Days
Bulgarian Name Days
In Bulgaria, Name Days are celebrated in addition to birthdays. A Name Day is celebrated by people ... More

Rila Monastery was founded in 10 century by St. Ivan of Rila. It is the greatest Bulgarian monastery - unique architecture, exquisite wall paintings, brilliant iconostasis, a rich collection of icons and old manuscripts - a true masterpiece of the National Revival Period. Under UNESCO's protection, Rila Monastery is one of Bulgaria's biggest sanctuaries.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2019 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.


Bulgaria Translation Bulgarian Agriculture Bulgarian Textile BestFlowers.bg Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.


Our Featured Members