The open mutual investment funds have benefited in July from an unusual effervescence for the summer of the Stock Exchange. Placing savings on this route brought a much larger profit than the interests did.
The clear assets of the 19 open investment funds reached 236.8 million new lei (RON), approximately 66.4 million euros, at the end of last month, according to a report of the National Union of the Organisms for Collective Investment (UNOPC). In the past 12 months, more than 67.000 persons have benefited from an increase by approximately 15.6% of the unit value of a fund certificate, which is much more than the inflation of that period, 9.3%.
PROFITS. Due to the effervescence of the activity at the Stock Exchange, the funds that focus on share transactions, as well as the funds with diversified investments were the ones that were the most profitable. The latter invest in shares as well as in debentures and treasury certificates, or in banking deposits. The monetary funds can invest only in banking deposits.
In July, the monetary funds and, with one exceptions, the ones that invest in debentures and treasury certificates have recorded performances inferior to the inflation (less than 1%) in the terms of the unit values of the certificates emitted for each. In the same time, the titles of the share funds have increased by 6.95%, and the ones of the diversified funds by 5%.
The discrepancy between the funds that depend on the interest market and the ones that depend on the Stock Exchange became greater in proportion as the official monetary strategy led to excesses of cash deposits, and to interests that, even in the case of the small banks, have begun to offer no more protection against the inflation or profit. The situation of the banking investments has also got worse because of the interest tax, which got ten times greater.
THE CASTLI