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The number of investors in investment funds exceeded 5 million as individuals turned to different savings instruments in an inflationary environment. The positive results of rising interest rates and rapid fluctuations in precious metals and the stock market are also reflected in funds. According to the Central Register (MKK), the number of mutual fund investors increased by 33,742 to 5 million 18,308 in the week ending June 7. The amount of invested funds also increased from 2.85 trillion liras in the previous week to 3.06 trillion liras. While the number of people turning to investment funds increased by 1.2 million in a year, the growth in the value of fund portfolios reached 2.1 trillion liras compared to 3.8 million at the end of May 2023. In contrast, the number of stock market investors was 8.2 million. The size of invested funds also increased during this period.
Money funds increase
In May 2023, the size of investment funds was 962 billion liras, an increase of 200% in one year, a tripling. By the end of 2023, investment funds amounted to 1 trillion 793 billion liras. The size of investment funds increased by 1.1 trillion liras in 6 months. Last year’s “star” precious metals and stock funds have performed strongly this year, and as the policy rate has been raised to 50%, money market funds have also been included in investors’ portfolios. According to TEFAS data, money market umbrella fund transactions accounted for 15.48% of fund transactions in May 2023, 21.91% at the end of 2023, and 26.14% last month. Although half of the transactions are free umbrella funds, the share of stock funds has reached 9.19%.
Equity funds rose 44%
Influenced by the rapid rise of the Istanbul Stock Exchange, equity funds have achieved the highest returns since the beginning of the year. TEFAS data shows that the average increase of equity umbrella funds this year is 44.6%, exceeding the 36.9% increase of the BIST 100 index during the same period. Variable funds ranked second with a return of 25.6%, and fund basket funds ranked third with a 23.5% increase. Monetary policy ranked fifth with a 21.5% increase, while precious metal umbrella funds rose an average of 19.7%.
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