The assets of local investment funds fell by 0.8 pc in August

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The net assets of local investment funds decreased by 0.8% in August, yet being above EUR 4.4 billion, the Asset Managers Association (AAF) announced on Thursday, according to capital.ro.
AAF states that the net assets of foreign funds distributed in Romania also had a slight depreciation of 1.6% as compared to the previous month, reaching EUR 527.3 million at the end of June, and an increase during the current year of 18.7 %.
At the same time, the net assets held by the 26 closed-end funds were down by 2.5% in the reported month, reaching EUR 192.4 million at the end August.
“As in the previous month, amid higher redemptions from bond funds, the net subscriptions of local funds recorded in August were of EUR 38.9 million,” reads the release.
According AAF, in August, FDI Zepter and FDI Zepter Mixt merged with FDI Zepter Defensive (the former FDI Zepter Obligatiuni).
Asset Managers Association brings together 21 companies of investment management (SAI), five financial investment companies (SIF) and three depository banks.

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