Just 5 months after the start of the public offering of 4 mutual funds of Raiffeisen Asset Management, the assets under management exceeded BGN 30 Mln. The market share of RAM reached 16,29%, which correspondents to 3rd place among the asset management companies in Bulgaria, in terms of net asset value, data from the Bulgarian Stock Exchange shows.
As of end August 2006, Raiffeisen Asset Management confirmed its position as the most dynamic asset management company in Bulgaria, reaching the highest growth of sales of mutual funds.
Raiffeisen (Bulgaria) Balanced – Number 1 among the balanced funds
Raiffeisen (Bulgaria) Balanced is the biggest balanced fund, in terms of assets under management. As of 31 August 2006, the assets of the fund exceeded BGN 15,3 Mln. The fund follows moderate risk strategy and invests its assets both in equities and bonds. The net asset value of a unit of the fund increased from BGN 1.0000 (as of 16 March 2006) to BGN 1.0517 (as of 31 August 2006). Raiffeisen (Bulgaria) Equities Fund also generates considerable investors’ interest – the assets under management exceeded BGN 7,2 Mln. The net asset value of a fund unit increased from BGN 1.0000 (as of the beginning of the public offering on 16 March 2006) to 1.0894 as of 31 August 2006.
Raiffeisen Asset Management is the first Bulgarian asset management company to offer access to both local and international capital markets. Besides local funds, the company distributes the mutual funds of Raiffeisen Capital Management, Vienna. For the first 5 months the company has managed to distribute units of the Austrian funds, at the amount of EUR 3,2 Mln.