Assets of investment funds in Bulgaria up 14% y/y at end-March

The total assets of the investment funds were equal to 5.1% of the gross domestic product (GDP) projected for 2024, against 4.8% of the 2023 GDP a year earlier, the Bulgarian National Bank (BNB) said in a quarterly report.

Compared to the end of 2023, the assets of both resident and non-resident investment funds went up 3.2% in the three months through March.

The assets managed by resident investment funds grew by 17.7% year-on-year to 3.26 billion levs in the review period, mainly due to a 27% jump in equity funds’ assets. Of that amount, 65.3% were held in Bulgarian levs and 30% in euro.

There were a total of 1,560 investment funds operating in Bulgaria as of end-March, compared to 1,530 a year earlier.

Details follow (in millions of levs):

source: BNB

(1 euro = 1.95583 levs)