People replace time deposits with investments in mutual funds

The investments in mutual funds have shown significant recovery in the last two years. The managed assets reached around S/64,000 million as of December 28, far exceeding the downturn experienced after the pandemic, when it fell to S/28,100 million.

There are several factors that have led to an increase in the participation of these investment instruments in people’s bets. According to the Central Reserve Bank (BCR), one of these would be associated with the profitability of the funds. Several of the categories of these products have far exceeded the returns on bank deposits (see table).

“In recent years, deposits grew at a more moderate pace, while mutual funds captured significant flows, evidencing a phenomenon of substitution of financial savings,” indicated the BCR.

Other factors in the growth of funds, according to the BCR, would be associated with greater diversification of investments by people, as well as greater access to this alternative after the development of digital distribution platforms.

He added that, as of November, 98% of participants were natural persons and the difference was companies.

Data

Fixed income funds in dollars constitute the predominant category (39%), followed by mixed income funds in dollars (31.8%) and fixed income funds in national currency (19.5%).

The funds’ investments show a significant evolution towards international market instruments.

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