Hungary gears up for Ucits

Investing in collective investment schemes became an option for Hungarian investors after the transition to a market economy in the early 1990s. Over the past 15 years the role of investment funds has increased and their development reached its peak around the middle of 2003. At this time, an amount of approximately HUF1,170bn (e4.7bn) was invested in funds in Hungary. After that time, the previously steady increase of amounts invested in funds came to an end, mainly due to the National Bank of Hungary raising the base rate which, in turn, resulted in investors channelling their earnings t...