As of September 2020, Slovenian mutual funds manage EUR 2.987bn, representing a decrease 0.4% MoM and a decrease of -1.1% 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 September 2020, Slovenian mutual funds manage EUR 2.987bn, observing a slight decrease of 0.4% MoM, which represents the first time since April that mutual funds experienced a MoM decrease. As a reminder, Slovenian mutual funds observed five consecutive monthly increases (since April). It is also 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 1.1% 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 September 2020, shares account for 68% of the total assets (or EUR 2.03bn). Shares observed a slight decrease of 0.3% MoM and were the main driver of the overall decrease. 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 1.8% YTD. Meanwhile, domestic equity holdings, which amount to EUR 59.55m have witnessed a decrease of 16.2%.
Next come bonds, which make up for 18.4% of the total asset structure or EUR 551m. Of that, 94% come from the foreign market. Investment funds’ share in AUM amounts to 6.8% of total assets, while money market, deposits & cash account for 5.9%. In nominal terms, shares have observed the largest decrease of EUR 36.8m since the beginning of the year, while on the other hand, bond holdings are up by EUR 29.1m.
Total Assets of All Slovenian UCITS Funds (Sep 2007 – Sep 2020) (EUR bn)
