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The latest data from the Croatian Financial Services Supervisory Agency revealed that the assets managed by Croatian funds have been reduced by over 11 billion kunas.

At the end of April, the Croatian funds managed assets in the amount of 41.1 billion kunas, while a year ago the assets surpassed 52.2 billion kunas. The main reason is the reduction of assets managed by open investment funds. It was reduced from 20.1 billion kunas at the end of April 2008 to 9.2 billion kunas at the end of April of this year. On the other hand, although the pension funds were labeled as “unsafe guardians” in last couple of months, their assets alleviated the fall. At the end of April 2008, they managed 24.3 million kunas of assets, which is 3 billion more than the previous year’s. The growth can mostly be linked to the inflow of mandatory payments. In turn, the decrease in assets of the open investment funds is mostly because of the negative trend of the capital market prices and not so much because of the loss of interest of fund investors. For example, the CROBEX index in the same period lost 58%. The assets of open investment funds publicly offered support this trend. A year ago the share funds had total assets twice the value of its monetary assets, while presently the situation is opposite, with money funds managing 4.1 billion kunas.