Deposits to be redirected to investments in funds, stocks and raw materials

Diana Iossifova
diana.iossifova @ klassa.bg


This year, there will be a redirection of funds from savings deposits to other alternative forms of investment, such as investment in funds, stocks, bonds and raw materials, predicted the banking community. We expect the relative share of the stock industry to increase and to attract more institutional investors, commented the Chairman of the Management Board and CEO of Raiffeisenbank Bulgaria, Momchil Andreev during yesterday's presentation of the four new funds of Raiffeisen Capital Management. To a lesser extent, the interest of depositors increased in the real estate sector and gold, and, in particular, in mutual funds and trust management. In his words, investments in shares in Bulgaria have never been a determining factor. The most preferred model is the conservative deposit investment but, lately, the culture of saving in mutual funds is increasingly being transferred and imposed in our country. The redirection of funds from deposits to other forms of investment is one of the signals that the economy is recovering. Another reason for optimism is the fact that, at the end of 2010, a slight upsurge was registered in the demand for investment loans on the part of businesses, indicated also Andreev.

Since the autumn of 2010, we have witnessed a return of individual investors to funds. Besides, we are observing increasing interest in funds investing in stocks on global markets and, since early 2011, also in funds investing in shares on the Bulgarian Stock Exchange, confirmed to Klassa, Stella Tsvetkova, Sales and Marketing Director and Board Director in Еlana Fund Management.

About one-third of last year's savings were generated from interest on deposits, while the remaining two-thirds were new fresh investment, commented Momchil Andreev of Raiffeisenbank. This resulted from the higher interest rates on deposits of banks, people felt insecure because of the crisis and reduced their expenses in order to increase savings. BNB data, published yesterday, however, showed a continued growth of household deposits. In February 2011, these reached BGN 27.5 bn, marking an increase of nearly 12%, compared to January 2010. Companies deposited BGN 12.39 bn in banks and funds rose by nearly 7%.

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