March 19 (SeeNews) - Romanian investment funds' net assets totalled 42 billion lei ($10 billion/8.8 billion euro) at the end of February, edging up by 0.1% compared to end-2018, the Romanian Association of Asset Managers, AAF, said on Tuesday.
The net assets of the 203 investment funds in Romania were up by 2.4% on the month, the association said in a statement.
The net assets of open-end investment funds totalled 21.4 billion lei at the end of February, down by 0.8% compared to the end of last year and flat month-on-month.
Romanian open-end investment funds registered net outflows of 191.2 million lei in February, mainly in bond funds, while net inflows of 9.1 million lei were registered in diversified funds, absolute return funds, shares funds and monetary funds.
Foreign open-end investment funds' net assets reached 0.77 million lei at end-February. These funds accounted for 3.5% of the total assets of open-end investment funds and recorded net outflows of 17 million lei in February.
The net assets of closed-end funds - domestic and foreign, excluding SIFs and investment fund Fondul Proprietatea reached 19.8 billion lei at end-February. These funds recorded net inflows of 0.9 million lei in February.
The Romanian Association of Asset Managers is a non-governmental professional organisation which brings together 19 investment management companies which are managing 78 open-ended investment funds, 24 close-ended investment funds, 4 financial investment companies, four depository banks and property restitution fund Fondul Proprietatea.
(1 euro =4.7564 Romanian lei)