The first month of this year for funds ended better than the last three months of last year. The trend from the end of last year has continued, indicating that more and more funds are recording positive monthly results.
Out of a total of 96 active open funds, 67 finished in the positive in January; (in December 59, in November 50, and in October 39). Among those that finished in the red, equity funds not oriented towards the region predominated, along with a few mixed funds. All money and bond funds achieved positive results. The equity index of the Zagreb Stock Exchange, Crobex, increased by 9.95 percent in January, while Crobex10 rose by 10.84 percent, and the bond index Crobis recorded a growth of 1.49 percent. Leading American indices Dow Jones, Nasdaq, and S&P 500 recorded changes from 0.05 to -0.25 percent. In January, the equity fund Ilirika BRIC and the new index fund VB Crobex10 started operations.
January marks the fourth consecutive month in which funds have achieved monthly results that vary widely. Their monthly changes range from 9.72 to -6.73 percent. Thirty-one funds increased by more than one percent, and eighteen achieved returns greater than three percent. A total of thirty-nine funds fell; (in December 36, in November 45, in October 56). Most recorded a decline of less than three percent. Eleven fell by more than two percent, and seven funds recorded a decline greater than four percent. Among the ten most successful funds are equity and two mixed funds, led by OTP Index Fund. Among the top twenty, in addition to equity funds, six mixed funds were included.
Among the best of 66 equity and mixed funds are those that invest the most in the region or on the domestic stock exchange, while funds oriented towards global markets almost all record negative results. The highest returns in the equity fund group are recorded by OTP Index Fund (9.72 percent), Raiffeisen Croatian Stocks (8.08 percent), and Erste Adriatic Equity, which increased by 6.04 percent. In mixed funds, the highest growth was achieved by Erste Balanced with a monthly return of 5.35 percent. It is followed by Raiffeisen Balanced and ICF Balanced with growth of 4.11 and 3.96 percent, respectively. The largest declines in mixed and equity funds of 4.30 and 6.73 percent were recorded by HPB Dynamic and Ilirika Bric.
All ten bond funds increased, recording returns ranging from 0.11 to 1.94 percent. Four bond funds increased by over one percent. Money funds also all increased in January. They achieved returns ranging from 0.09 to as much as 0.73 percent. The most successful were HPB Money (0.73 percent) and ST Cash (0.61 percent). Twelve out of a total of twenty money funds recorded growth greater than 0.30 percent. The returns of funds over the last 12 months range from 54.34 to -39.13 percent. Positive results were achieved by 84 funds. Forty-one funds increased by more than ten percent, and fifteen have increased by over twenty percent in the last 12 months. (www.hrportfolio.com)
