BRATISLAVA, October 2, (WEBNOVINY) – Outflow of investments from open-end mutual funds in Slovakia from the second half of this year continued in August. Funds managed by members of Slovak Association of Asset Management Companies (SASS) posted total negative net sales of EUR 230.2 million. In July, the funds posted an outflow of EUR 17 million, in June of EUR 60 million, which was the worst result since early 2009.
According to the National Bank of Slovakia, the June outflow of investments can not be compared with the situation during the crisis in 2008. In October 2008, over EUR 600 million flowed out of the sector. Thus, redemptions reported in recent months are negligible.
The basic characteristic of the sector of collective investing, which is the volume of administered assets in local mutual funds and foreign entities of collective investing did not change over the first half of this year. The net value of assets at EUR 4.5 billion as of June 30, 2011 is basically identical with the amount at the end of 2010. “This stagnation is the result of a certain increase in the volume of administered assets by foreign entities of collective investing as well as a decline in the net value of assets in local mutual funds,” the central bank states in the report on the financial market in the first half of this year.
SITA
