Capital under management grew 2.17 pct to 12.03 billion euros in the third quarter of 2010 despite difficult market conditions with high volatility in international markets and concern over developments in the Greek economy, official figures showed on Monday.
A monthly report by the Association of Institutional Investors showed that capital under management in the Greek mutual funds market grew by 150 million euros in the third quarter to 8.2 billion euros, reflecting a significant slowdown of capital outflows and improving prices of Greek state bond and share prices.
Funds of Funds continued leading the way as the most highest performer, with equity funds of funds yielding as much as 20.61 pct, combined funds of funds yielded 9.09 pct and fixed-income funds of funds yielded up to 5.76 pct. From the 64 domestic equity mutual funds in the country, 60 surpassed the composite index of the Athens Stock Exchange in returns.
Closed-end investment funds’ assets rose to 220.45 million euros in the third quarter of 2010, with the sector trading at an average weighed discount of -41.69 pct in the third quarter for an average weighed performance of -5.02 pct so far this year.