Slovenian Mutual Fund Asset Structure – August 2020

As of August 2020, Slovenian mutual funds manage EUR 2.998bn, representing an increase of 3.3% MoM and a decrease of -0.7% YTD.

For today, we decided to present you with a short asset structure analysis of Slovenian mutual funds. When looking at the graph below, one can notice that the Slovenian mutual funds have not significantly changed their assets structure during COVID-19 crisis.

As of August 2020, Slovenian mutual funds manage EUR 2.998bn, observing an increase of +3.3% MoM, which represents the fifth consecutive monthly increase (since April). It is worth noting that mutual funds are experiencing a recovery after a considerable loss in March 2020 (-12.4% MoM) due to crisis caused by the Covid-19 pandemic. As a reminder, in April the AUM partially recovered with a 7.8% increase. Meanwhile, on a YTD basis, AUM is only 0.7% down, indicating that the investors were not withdrawing funds at a significant level during the Covid-19 outbreak, which was not the case in Croatia.

Turning our attention to the asset structure, as of August 2020, shares account for 68% of the total assets (or EUR 2.04bn), which is slightly below the historic average of 70% (in the observed period). Note that the vast majority (97%) of equity holdings of Slovenian mutual funds come from the foreign market. Meanwhile, total equity holdings are down by 1.5% YTD.

Next come bonds, which make up for 18.3% of the total asset structure or EUR 549.7m. Of that, 94% come from the foreign market. Investment funds’ share in AUM amounts to 6.9% of total assets, while money market, deposits & cash account for 6.3%. In nominal terms, shares have observed the largest decrease of EUR 31.2m since the beginning of the year, while on the other hand, bond holdings are up by EUR 27.3m and Money market, deposits & cash by EUR 20.6m.

Total Assets of All Slovenian UCITS Funds (2007 – August 2020) (EUR bn)

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