OREANDA-NEWS. Net asset value (NAV) of unit investment funds (UIFs) rose by 2% to 2.4 trillion rubles in 2016 Q1. According to the Review of Key Indicators of Unit Investment and Investment Funds, investment inflow was the key driver for the market growth.

Long-term direct investment funds recorded the highest NAV growth. As a result, net assets of close-end UIFs stood at 2.3 trillion rubles as of the end of the first quarter.

NAV of open-end UIFs were up by 0.9% on the back of positive net investment that offset the harmful effect of negative yield of this category of funds.

Outflow of funds that exceeded positive revaluation of investment unit value dragged NAV of interval UIFs down by 10.5%.

As of the end of 2016 Q1, the total value of UIF assets amounted to 2.68 trillion rubles or 3.3% of GDP.