Q3 2022 Financial Performance Review
MKB
BANK
Investment funds
Annexes - Strategic Partners' Performance
Breakdown of investment fund (HUF bn)
-1.2%
8.5%
8.3%
8.0%
7.5%
7.5%
636.7
649.5
628.9
600.6
580.0
587.7
605.6
561.8
595.1
542.7
49.0
0.0
Q3 2021
43.9
Q4 2021
0.0
38.9 0.0
Q1 2022
37.3 0.0
Q2 2022
33.8 0.0
Q3 2022
Breakdown of managed portfolios (HUF bn)
-12.1%
585.5
560.1
515.6
501.2
492.3
453.1
433.1
386.3
373.0
361.2
49
Market share %
Public open-end funds
Public closed-end funds
Private funds
Funds
Insurance
Other
As a result of the merger of MKB Bank and Budapest Bank on
31.03.2022, Budapest Fund Management became 100% owned by
MKB Bank.
On 31.08.2022 MKB-Pannónia Alapkezelő Zrt. merged into
Budapest Alapkezelő Zrt. The merged entity operate under the
name MKB Alapkezelő Zrt. The merged fund management
company is 75.54% owned by MKB Bank.
After the merger, the market share of open-end funds was 7.47%,
representing assets under management of HUF 628.9 bn at the
end of 3Q 2022. Due to the fusion the asset management
company moved up to fourth place in terms of total portfolio and
to fifth place in terms of assets under management in investment
funds.*
Open-ended investment funds increased to HUF 595.1 billion
mainly due to capital inflows into short-term bond funds.
The public open-end funds consist HUF 109 billion net asset value
of the 3 funds distributed in the Czech Republic.
There are currently no closed-end investment funds in the product
range of the Fund Management company, the last public closed-
end fund was closed by the end of 2021.
The portfolio managed by the Fund Management company
amounted to HUF 492.3 bn at the end of 3Q 2022. At the end of
June, the total portfolio managed by the two companies
amounted to HUF 501 bn. The decrease during the quarter were
due to the unfavourable market trends.
115.6
11.4
Q3 2021
121.2
11.2
Q4 2021
118.7
10.5
Q1 2022
117.2
10.9
Q2 2022
120.5
10.6
Q3 2022
Note: The merger of the fund management companies is due in Q3 2022, therefore pro forma aggregated financial data have been published to better present MKB Bank's fund management activities.
*Source: BAMOSZView entire presentation