Slovenian Mutual Fund Asset Structure – July 2020

As of July 2020, Slovenian mutual funds manage EUR 2.903bn, representing an increase of 0.7% MoM and a decrease of 3.9% 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 July 2020, Slovenian mutual funds manage EUR 2.903bn, observing an increase of 2.5% YoY or +0.7% MoM. 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 3.9% 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 July 2020, shares account for 67% of the total assets, 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. Next come bonds, which make up for 19% of the total asset structure or EUR 551.3m. Of that, 93% come from the foreign market. Investment funds’ share in AUM amounts to 6.8% of total assets, while money market, deposits & cash account for 6.6%. In nominal terms, shares have observed a decrease of EUR 124.39m since the beginning of the year, which was partially offset by an increase in bonds by EUR 29.3m and Money market, deposits & cash by EUR 24.2m.

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