August 24 (SeeNews) - Romanian investment funds' net assets totalled 24.8 billion lei ($6.2 billion/5.3 billion euro) at the end of July, down by 6% compared to end-2017, the Romanian Association of Asset Managers, AAF, said on Friday.
The net assets of the 199 investment funds in Romania were also down, by 1.4% on the month, the association said in a statement.
The net assets of open-end investment funds totalled 20.6 billion lei at the end of July, down by 9.4% compared to the end of last year and 1.8% lower month-on-month.
Romanian open-end investment funds registered net outflows of 381 million lei in July, mainly in bond funds, while net inflows of 9.1 million lei were registered in diversified funds, absolute return funds, shares funds and monetary funds.
Foreign open-end investment funds' net assets increased by 1% compared to end-December 2017 to 2.97 billion lei and were 0.9% higher month-on-month at end-July. These funds accounted for 12.6% of the total assets of open-end investment funds and recorded net outflows of 11 million lei in July.
The net assets of closed-end funds - domestic and foreign, excluding SIFs and investment fund Fondul Proprietatea - increased by 75.1% in January-July compared to the end of last year and by 0.2% month-on-month, reaching 1.23 billion lei. These funds recorded net inflows of 6.9 million lei in July.
The Romanian Association of Asset Managers is a non-governmental professional organisation which brings together 77 open-end investment funds, 99 Foreign open-end investment funds and 24 closed-end investment funds, as well as 5 financial investment companies (SIFs), property restitution fund Fondul Proprietatea and four depository banks.
(1 euro =4.6377 Romanian lei)