The net assets of 91 local open funds decreased last year to 17.4 billion lei (3.5 billion euros), correspondingly by 31.2%.

“In December, local open-ended funds recorded a net outflow of 262 million lei (€53.3 million), bond funds and fixed income instruments (128.6 million lei), funds grouped under the category of “other funds” (85, 3 million lei), diversified (28 million lei) and equity (20.8 million lei), while absolute return funds recorded net inflows of 0.4 million lei,” the Association of Fund Administrators (AAF) reports.

The net assets of 240 open and closed funds, local and foreign, decreased by 1.3% in December to the level of 45.9 billion lei, and since the beginning of the year they have decreased by 14.4%.

The 5 best performing funds over the past 12 months recorded net annual returns of 3.5% to 25.5% (some denominated in foreign currencies).

According to AAF, over a 36-month period, the top 5 performing funds had a return of 29.4% to 44.6% over the past 3 years (as of December 2019).