Equity funds were the most profitable in the first two months ofthe year, with yields of up to 8.5%, but since investors lackedfresh money, the funds' performance is below that of the main stockexchange indexes.
BCR Expert, an equity fund managed by Erste Asset Management, isthe top performer in the first two months of the year, with an8.53% yield, followed closely by OTP Balansis and Avantis funds,with above 7.6% yields. During the same period, the main stockexchange index BET of the ten most liquid shares, rose 11.3%, whilethe BET-FI index of the five SIFs (financial investment companies)gained 8.2%.
"The yields of equity funds are obtained based on the samevolume of assets, considering that some shares in which the fundsinvested saw declines last month. In order to beat the market,equity fund managers need capital inflows that allow them to adjusttheir portfolio," said Dragos Neacsu, chairman of managementcompany Erste Asset Management.
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