Since 21 February (until 24 March) the NAV of all UCITS funds in Croatia has observed a significant decrease of HRK 7.8bn, representing a decrease of 32.5%.

Croatian Financial Services Supervisory Agency (HANFA) published an updated net asset value (NAV) of all UCITS funds in Croatia ending with 24 March 2020. Since the asset managers play a very significant role in the Croatian capital market, it is particularly interesting to see how they have been affected during the ongoing Covid-19 situation.

The regulator notes that since 21 February (until 24 March) the NAV of all UCITS funds in Croatia has observed a significant decrease of HRK 7.8bn, representing a decrease of 32.5%. Of the HRK 7.8bn, HRK 6.7bn (86.1%) could be attributed to withdrawals from the funds, while the rest (HRK 1.1bn or 13.9%) can be attributed to a change in value of assets in which the funds invest. We will be publishing an update, as soon as HANFA publishes their UCITS funds assets structure for March 2020. To see the historical mutual fund asset structure (2007 – 2019) click here.

NAV of Croatian UCITS funds (HRK 000)

Source: Croatian Financial Services Supervisory Agency, InterCapital Research