(Finances News ) – The first half-year 2000 is over. However, the national mutual funds' market is still less lively than a year ago.
The net assets managed by mutual funds are still under the mark of DH 45 billion. The overall managed volume continues on its downward trend. The Total amount is currently valued at DH 44 billion, 1.82 percent downwards compared to last June 23.
As for performance, Stock Mutual Funds seem to take advantage of the slight recovery registered for some stocks. They went 2.55 percent up, while Debentures rose by 0.02 percent and the Diversified funds by 0.77 percent.
Given these facts, it seems very difficult - if not impossible-for the market to achieve the performances registered last year, particularly for debentures.
Up to June 30, the performance of Debenture Funds hardly reached 0.76 percent since the beginning of the year, against nearly 10 percent registered over the same period last year.
The Debenture Fund's weak performance is particularly due to the lethargy of the rate market. A potential recovery of the market can take place if the process of privatization is pursued. The State's increased revenues are very likely to be in favor of the issued debentures, thanks to a new decreased rate.
© 2000 Mena Report (www.menareport.com )