Financial crisis takes 6.3 million euros out of equity and balanced funds

Publish date: 11-11-2008
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Equity funds saw 9.2 million RON in net amount withdrawn in October, the largest volume of this year, while withdrawals from balanced funds stood at 14.1 million RON according to the monthly report of the Fund Manager Association. Moreover, the equity funds in the first ten months of the year witnessed net withdrawals of 15.3 million RON, while investors in balanced funds withdrew a net amount of 28.6 million RON.

"It was obvious that significant amounts would be withdrawn from funds exposed to the stock market, considering the performance of the Stock Exchange last month. Investors incurred heavy losses, which is why they took their money out of funds," said Razvan Rusu, investment manager of Aviva Investors management company.

Ziarul Financiar

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