site.btaInvestment Assets Funds in Bulgaria Exceed BGN 12 Billion End of Q1 2025

The assets managed by resident and non-resident investment funds operating in Bulgaria amounted to BGN 12.008 billion at the end of the first quarter of 2025, the Bulgarian National Bank (BNB) reported Tuesday. 

They increased by BGN 1.938 billion (19.3%) year-on-year (from BGN 10.069 billion), and increased by BGN 214.6 million (1.8%) from December 2024.

The total amount of resident and non-resident investment funds assets equated to 5.6% of GDP as of end March 2025, against 5% of GDP in March 2024 and 5.8% in December 2024. 

At the end of Q1 2025, the assets of resident investment funds reached BGN 3.828 billion, up BGN 565.9 million (or 17.3%) compared to the same month in 2024 (BGN 3.262 billion). Compared to December 2024 (BGN 3.713 billion), assets increased by BGN 114.4 million (or 3.1%).

As of the end of Q1 2025, equity funds’ assets increased by BGN 385.5 million year-over-year (19.4%) to BGN 2.372 billion, compared to BGN 1.987 billion in March 2024, whereas mixed funds and other funds’ assets increased by BGN 122.2 million (27.1%) to BGN 574 million, up from BGN 451.7 million at the end of March 2024.

Compared to December 2024, assets of equity funds increased by BGN 79.7 million (3.5%), mixed funds and other funds’ assets increased by BGN 40.2 million (7.5%), bond funds’ assets increased year-over-year by BGN 58.1 million (7.1%) to BGN 881.8 million, up from BGN 823.6 million in March 2024. Compared with December 2024, bond funds’ assets decreased by BGN 5.5 million (0.6%).

The currency breakdown of resident investment funds’ assets showed a prevailing share of assets denominated in BGN - 61.4% and in EUR - 32.6% at the end of March 2025, compared with 65.8% and 30% respectively at the end of March 2024. As of end-December 2024, the assets denominated in BGN totaled 62.8% and those in EUR - 31.5%.

At the end of Q1 2025, funds attracted from Bulgarian residents into foreign investment funds amounted to BGN 8.180 billion. This is a BGN 1.372 billion increase (20.2%) compared to BGN 6.807 billion in March 2024. Compared to December 2024 (BGN 8.080 billion), liabilities of foreign investment funds to Bulgarian residents increased by BGN 100.1 million (1.2%).

The institutional sector breakdown of non-resident investment funds’ liabilities indicated that those to Insurance Corporations and Pension Funds increased by BGN 781.1 million (17.4%) to BGN 5.263 billion as of the end of March 2025, compared to BGN 4.482 billion in March 2024. The liabilities to households and non-profit institutions serving households increased by BGN 420.4 million (36.1%) to BGN 1.583 billion (from BGN 1.163 billion at the end of Q1 2024).