Development and Finance from issue 2009/1

Miklós Farkas

Investment Funds in the Financial Crisis

- Abstract -

The events on the Hungarian investment fund market are essentially in line with both the general setbacks registered on European fund markets and the problems afflicting other institutions in the financial sector. We can say that the Hungarian investment fund market has experienced one of its worst years yet, which is not surprising given the deepest financial crisis of the last 50 years, the series of bankruptcies and bank rescues in developed countries, the panic withdrawals of capital and the plummeting share prices. The Hungarian fund market initially came off better than European funds, but in October the crisis lurched the market onto a slippery slope and it fell faster on average than its European peers, chiefly due to the greater risk aversion of Hungarian investors, but the problems specific to Hungary (macroeconomic position, attacks on the forint, etc.) meant the year-end decline numbered among the most spectacular in the region.


Miklós Farkas, economist (Association of Hungarian Investment Fund and Asset Management Companies)

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