BRATISLAVA, July 26, (WEBNOVINY) – June brought about the worst performance of open-end mutual funds this year. The sales of funds managed by members of the Slovak Association of Asset Management Companies (SASS) were EUR 60.7 million in the red. Money market funds with negative sales of nearly EUR 51 million contributed most to this outcome.
Based on the data provided by the association, net sales of mutual funds were positive in January, April and May. Then again, negative net sales amounted to EUR 2.9 million in February and EUR 2.8 million in March. Overall net sales amounted to negative EUR 43.5 million during the six-month period.
The highest volume of finances, namely EUR 1.764 billion, was in money market funds as of early July. Net asset value in bond funds represented EUR 600.2 million and EUR 582 million was in mixed funds. Overall net asset value in mutual funds accounted for EUR 4.495 billion, which was 1.1 percent less versus late 2010.
Net sales of mutual funds amounted to EUR 377.3 million last year. In 2009, net sales reached almost EUR 111 million. Last year, the volume of assets in open-end mutual funds in Slovakia rose by 10.3 percent y/y to over EUR 4.5 billion.
SITA
