Romanian mutual funds have swallowed over 3bn RON in the pastyear and reached 4.5bn RON net assets in late April, being evercloser to hit the 1% of GDP mark. The mutual fund industry endedApril with net assets worth over 4.5bn RON (1.1bn euros), a newall-time peak, managing to attract over 245m RON from investors(60m euros), according to the statistical data provided by the FundManagers' Association (AAF). The number of investors reached189,119, with a large part of them holding investments in monetaryand bond funds, while less than a tenth are equity fund investors,according to AAF data. "Mutual funds have entered an upward pathand are regaining lost ground. After the first billion euro interms of assets was exceeded, the next psychological threshold forfunds is their reaching 1% in GDP in terms of assets, a performancethat can be achieved this year," said Dragos Neacsu, chairman ofErste Asset Management, the biggest fund manager. Romania's GDPended last year at 491.27bn RON.
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