ZAGREB, June 8, 2020 – Last year was one of the best years for investment funds with the value of their assets exceeding HRK 26 billion and this year despite the obvious fall due to the COVID-19 pandemic. the sector has been significantly maturing, it was said at the Top of the Funds award ceremony on Monday.
President of the association of companies for the management of investment funds within the Croatian Chamber of Commerce, (HGK) Hrvoje Krstulovic underlined that 2019 was one of the best years for investment funds and capital market with Undertaking for Collective Investment in Transferable Securities (UCITS) funds increasing by 18.5% to HRK 22.5 billion and a jump in alternative investment funds of 14.5% to HRK 4.2 billion.
Those two figures, combined together, give the number of HRK 26.8 billion which is almost equal to the value of assets at the end of 2007, said Krstulovic.
Despite the crisis in 2020, 95% of physical entities retained their investments in funds, he explained and the decrease that has been recorded mostly relates to institutional investors, he said.
He underlined that a significant maturity has occurred in the entire sector from clients, to sales processes and on to regulators.
The strongest effect of the coronavirus epidemic was recorded in March when the value of assets of investment funds fell by 30% however in April an increase of 1.4% was recorded and the total value of UCITS funds at the end of April amounted to HRK 15.9 billion.
Top of the Funds awards in five categories
The Top of the Funds awards for the best management of investment funds in 2019 was conferred to Intercapital Bond for the best equity open-end investment fund (UCITS) while the best mixed open-end investment fund award went to Allianz Portfolio. The best open-ended investment fund was awarded to PBZ Equity while the particular open-ended investment fund award went to Intercapital Income Plus.
There are currently 23 companies managing investment funds in Croatia.
