A growing number of Croatians are putting money in investment funds, with the total investment fund assets growing by 6.5 percent in 2017 compared to the year before, to 18.6 billion kuna (€2.5 billion), the Croatian Chamber of Economy (HGK) said on Thursday.

Speaking at an annual award ceremony for best open-ended investment funds, chairman of the fund management companies association with the HGK, Hrvoje Krstulovic, said that the numbers of Croatians opting to invest in funds also grew by 6 percent year-on-year in 2017, to some 220,000 individuals.

“People are becoming increasingly prudent with their investments, they are increasingly putting their money in long-term investments, and are increasingly aware of the risk involved. The funds’ assets are growing, as well as both the sheer numbers of investors and the value of their investments,” Krstulovic said.

Total investment fund assets in Europe in 2017 have tripled since 2007, Krstulovic added,saying that the growing trend across the continent implies that the presence of the fund management industry would expand in Croatia as well.

welcomed the arrival of foreign investment funds, noting that they would make domestic funds more competitive.

The awards were presented in seven categories, with ZB Invest, part of the Zagrebacka Banka group, winning the award for the best investment fund management company.

In the open-end investment funds with a public offering category, ZB Europlus was deemed the best euro money fund, while Locusta Cash was the best kuna money fund.

(€1 = 7.41 kuna)

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