Almost all equity, mixed and master open-end mutual funds administered by members of the Asset Management Companies Association (ASS) depreciated for the fourth consecutive week. Bond funds under Volksbanken-KAG administration suffered the deepest losses of about 5 percent last week. Net sales of mutual funds, the difference between the value of issued and returned units, moderately grew to SKK 557 million over the past week, according to weekly data released by ASS. Prva Penzijna and J&T Asset Management reported negative sales again.

Funds of KBC group made the deepest losses from equity funds with its Internet fund going down 4.13 percent and Pharma fund at 3.98 percent. Only Eastern Europe of the same group managed to moderately increase the value of its units. All mixed funds weakened last week with Zahranicny Rastovy Fond of Amslico AIG Funds and Medzinarodny Vyvazeny Fond of Istro Asset Management performing worst. In much the same way as equity funds, only one fund make gains among master funds. Mutual funds of the KBC group were the least successful among master funds as well.

Most money-market funds continued moderately increasing the value of their units. Three funds under Capital Invest KAG administration did the best, while Korunovy Penazny Fond of Tatra Asset management and Penazny Korunovy Fond of VUB Asset Management lost more than 0.2 percent in a week. Ten bond funds closed the week in negative territory with three funds of Volksbanken-KAG falling from 4.27 to 5.17 percent.

Net sales of money-market funds amounted to SKK 301.1 million, making up 54 percent of sales of all ASS members last week. Net sales of bond funds stood SKK 253.7 million and those of mixed funds at minus SKK 2.1 million. J&T Asset Management and Prva Penzijna reported negative sales for SKK 11 million, chiefly due to Restitucny Fond and Eurofond.