Albania: Technical Assistance Report—Investment Funds and Interconnectedness Risks

Albania: Technical Assistance Report—Investment Funds and Interconnectedness Risks
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Volume/Issue: Volume 2023 Issue 167
Publication date: May 2023
ISBN: 9798400241758
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Money and Monetary Policy , International - Economics , fund sector , fund assets , fund share , fund manager , funds portfolio , Sovereign bonds , Securities markets , Stress testing , Corporate bonds

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Summary

This report relies on the information submitted by the AFSA and discussions with AFSA and BoA. Detailed data on the fund sector had been shared by AFSA and discussions with Authorities covered issues around (i) data reporting, (ii) risk analysis, (iii) regulatory framework and (iv) interlinkages. The fund sector has been expanding and remains highly concentrated. Since end-2019 the net asset value of Albanian funds has increased by 15 percent and accounts for around four percent of financial sector assets. The sector remains highly concentrated: (i) on the asset side, as domestic sovereign bonds account for most of exposures; and (ii) on the entity side, as the top fund represents 62 percent of the asset of the sector and the top 3 funds (all from the same manager) around 95 percent.