BAMOSZ: assets under management decreased in July in Hungary

In the case of investment funds, the result of capital flows last month was HUF 56 billion. Most of the categories were characterized by capital inflows, with bond and real estate funds standing out.

In the case of bond funds, capital inflows approached HUF 18.5 billion. There was an inflow in all three sub-categories: HUF 12.9 billion in short bond funds, HUF 2.7 billion in long bond funds, and HUF 2.9 billion in open-ended bond funds. As a result of this capital inflow, the volume of assets managed in bond funds increased by 1.2 percent to HUF 1,359 billion.

Real estate funds received HUF 15.5 billion capital inflow, which has been unprecedented so far this year. Yields followed suit, so as a result of capital flows and exchange rate movements, the net asset value increased by 0.5 percent to HUF 1,513 billion.

In the case of mixed funds, capital inflows amounted to almost HUF 10.7 billion, but because of unfavourable returns, the asset volume in mixed funds decreased by 0.9 percent to HUF 1,188 billion in July.

Equity funds received HUF 12.2 billion in fresh capital, however, due to the fall in exchange rates, returns were unfavourable, so the assets of equity funds decreased by 0.6 percent to HUF 445 billion.

Money market funds experienced a capital outflow of HUF 1.2 billion, which could not be corrected by returns either, so the value of their assets decreased by 7.4 percent to HUF 60.5 billion.

In the case of capital-protected funds, the result of capital movements was zero, so the volume also decreased only by a symbolic 0.1 percent, exceeding HUF 92 billion at the end of the month.

Capital outflows from absolute-return funds amounted to HUF 0.7 billion in July and as yields further reduced the asset volume, it decreased by 1.9 percent to HUF 738 billion.

In derivative funds, the result of capital movements was practically zero, and returns were unfavourable, so the asset volume decreased by 1.1 percent and amounted to HUF 140 billion at the end of the month.

Commodity market funds saw an inflow of 2.5 billion in capital, and returns also helped growth, so the volume of assets in these funds rose by 7.2 percent to HUF 55 billion.

Private equity funds, which manage mainly the assets of institutional investors, experienced HUF 1 billion capital withdrawal last month. Yields did not develop favourably, so the asset volume decreased by 1.6 percent to HUF 569 billion.

The 25 members of BAMOSZ manage a total of nearly HUF 9,400 billion fortune, and nearly HUF 6,200 billion of that is managed in investment funds.