Croatian open-end investment funds net assets down 5.5% m/m in Nov 2011.

By bne IntelliNews December 19, 2011
Croatian open-end investment funds reported a 5.5% monthly drop in net assets to HRK 12.3bn (EUR 1.6bn) at the end of November after declining a monthly 2.6% in the previous month, the country's financial regulator, HANFA, reported. In annual terms, the net assets of the open-end investment funds declined by 8.7% at end-November. Fund manager ZB Invest remained a market leader with its nine open-end investment funds, whose total net assets stood at HRK 4.2bn at end-November, down by 0.1% on the month. The second largest asset management company was PBZ Invest, which managed seven funds with HRK 2.5bn in net assets, down by a monthly 7.6% in November. Raiffeisen Invest ranked third, with ten funds and net assets of HRK 1.6bn, down by 11.3% on the month.

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