Mutual funds manage more than S/40.750 million: they would grow 35% this year

At the end of the first half of the year, the assets of mutual funds amounted to US$10,628 million (in our currency, S/40,754 million), reported the Association of Mutual Fund Administrators of Peru (FMP).

In the last 12 months, there was an increase of 41.89% in the total resources poured into this investment mechanism—in soles—and of 34.19% in dollars; and if we measure it against December 2023, when it reached US$8,864 million, there is an increase of 19.9% ​​in the first half of 2024.

According to FMP, the assets managed by the funds have grown every month since April 2023. There are a total of 375,644 participants: 97% are natural persons and the remaining 3% are legal entities.So far this year there has been a 10% increase in the universe of investors.

The role of mutual funds

Mutual funds are funded by monetary contributions from individuals and companies and are managed by Fund Management Companies (SAF) always under the scrutiny of the Securities Market Superintendency (SMV).

Each client has a risk profile and can invest in products such as bonds, certificates of deposit, shares, among others, and these transactions are made in various currencies, countries and sectors. There are funds with which you can invest from S/20 or US$5 and the money can be accessed at any time in an “easy and fast” manner.

Behind the profitability

Debt funds account for 67% of the assets in this sector. They are followed by flexible funds (12%), funds of funds (15.2%), structured funds (5%) and equity funds (0.3%), according to the SMV.

So, In the last 12 months, the average return is 27.68% in equity funds in soles and 17.79% in dollars.while in debt funds in soles, they have rates of 6.32% and 6.17%, respectively.

These profits do not guarantee that they will be repeated in the future, since mutual funds “cannot guarantee a return other than that obtained by investment management,” the association said.

The external factors behind the result are the reduction in rates in Europe (-0.25%) and the stabilisation of the Chinese real estate market, although the United States decided to raise its tariffs on Asian imports, which revived trade tensions.

Antonio Cevallos, president of the Mutual Fund Administrators Association of Peru and BBVA Asset Management, said that this year there would be an increase of up to 35% in the resources deposited in mutual funds.

“We could close the year at 32% or 35% if we continue at this pace. If so, it would be a very positive year, considering that over the cumulative total of our history we would be growing by more than 30%,” he told the press.