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Slovak investors losing faith in mutual funds

In October, the influx of finances invested in open-end mutual funds dropped to their lowest levels this year. Volatile development on global equity markets was behind these results, the National Bank of Slovakia (NBS) stated.

Slovak investors showed further distrust in mutual funds, with the exception of relatively safe money market funds. The net value of assets in open-end mutual funds in Slovakia denominated in Slovak crowns decreased for the first time this year to Sk132.1 billion. Monthly net sales reached roughly Sk700 million. Funds denominated in foreign currencies reported slightly negative net sales.

As usual, money market funds posted the biggest monthly net sales in October. Special funds, real estate and secured funds posted net sales of about Sk100 million. On the other hand, bond funds, equity and mixed funds continued posting negative net sales of roughly Sk500 million. Net sales of all categories of open-end mutual funds in Slovakia denominated in Slovak crown as well as in foreign currencies amounted to about Sk700 million. SITA

Compiled by Zuzana Vilikovská from press reports

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