As of end-September 2024, the assets under management of domestic and foreign investment funds stood at BGN 11.1bn (5.7% of GDPe), up 23.4% YoY (BGN 9bn in Sep 2023), and up 4.5% compared to the end of Q2’24 (BGN 10.6bn). Domestic investment funds reported 24.5% YoY growth in AUM to BGN 3.6bn. Domestic equity funds accounted for 61.5% of AuM in Sep’24 (58.5% in Sep’23) at the account of decrease in stake of domestic bond funds to 24.1% of AuM, down from 27.5% in Sep’23. The remaining 14.5% were invested in a group, aggregating balanced funds, real estate funds and others. In terms of asset allocation, 43.5% of domestic AuM were invested in equity (41.8% in Sep’23), followed by 32.3% in investment funds (35.1% in Sep’23) and 19.6% in non-equity securities (18.3% in Sep’23). In addition, total deposits declined to 2.6% of AuM compared to 3.3% in Sep’23. Locally-listed securities continued to decline as percentage of AUM but still were 52.8% of investments (67.2% in Sep’23). The rest were split between EU – 40% of investments (38% in Sep’23), US – 1.6% (1.2% in Sep’23) and other. Currency-wise, 94.5% of investments were denominated in either BGN or EUR compared to 95.7% in Sep’23. Growth in AUM of foreign investment was 22.8% YoY, reaching BGN 7.5bn in end-Q2. In terms of ownership, 66.8% of foreign investment funds were held by local pension funds and insurers (64.5% in Sep’23) and 16.9% by households (17.3% in Sep’23). Top investors in domestic funds were pension funds and insurers – 29.3% (30.4% in Sep’23) and households – 35.9% (37.1% in Sep’23).