Dec. 19 -- BUCHAREST -- The unit trusts have attracted 3 billion lei (around 669 million euros ) from the investors in the 11 months, double the 2012 inflows, as the cut bank interest rates have prompted many Romanians to look for more profitable alternatives to place their money into, Ziarul Financiar daily says on Thursday. 2013 is the best year in the history of unit trusts: their net assets hit a 12.3 billion lei -high, the money deposited by the investors reached a record 3 billion lei -mark and yields surged up to 40 percent, euro terms. The 40 percent expansion of the unit trust assets are mainly the result of the new money having entered the market from the persons who, either partially or fully moved their savings from bank deposits to bond funds or funds with investments in monetary instruments. The bank interests, this year, have dropped down to 4-5 percent to national leu currency deposits and 2-3 percent for euro deposits. The highest yield this year was obtained by the euro-denominated fund Audas Piscator, which gained 40.7 percent in the 11 months as a result of having staked on the Swiss franc depreciation. The fund has a high-risk profile. The best yields among the low-risk unit trusts were recorded by ING Bond (7.2 pct) and Erste Bond Flexible (6.9 pct). ___ (c)2013 Agerpres, Bucharest, Romania Visit Agerpres, Bucharest, Romania at www1.agerpres.ro/english Distributed by MCT Information Services
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?