The investors withdrew RON 510 mln (EUR 105 mln) from local open investment funds in July, visibly less compared to previous months, according to data from the Association of Fund Administrators (AAF).

The fund's aggregated net assets were RON 10.7 bln (roughly EUR 2 bln) at the end of the month.

The largest outflows were in the segment of fixed-income (bond) funds (RON 322 mln), followed by diversified funds (EUR 142 mln) and multi-asset funds (EUR 38 mln), Ziarul Financiar reported.

The intensity of the withdrawals diminished from RON 704.6 mln in June and RON 825 mln in May, a slowdown also noted by fund administrators.

"I think withdrawals from bond funds will slowly reach the end of the period. Likewise, I believe that the yield brought by all instruments of this type will reach an equilibrium level," Aurel Bernat, CEO of BT Asset Management - the largest mutual fund manager in Romania, explained during the ZF Deschiderea show today in August.

andrei@romania-insider.com

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