The yields of bonds are higher than inflation for 10 years. This is what Yavor Achev, manager of Pioneer Investments for Bulgaria said at The Sound of Money forum organized by profit.bg.

Mr. Achev explained that “Although inflation stands relatively high, the bonds on the emerging markets, Bulgarian ones included, for the same period manage to generate a return of 7% in EUR and 9% in USD”. For the period March 2003 – March 2013, the average annual inflation in Bulgaria reached 5.3% according to information of the National Statistical Institute (NSI). According to NSI, the Bulgarian investors missed last year’s opportunity to make good investments because they were rather passive, while there was an upward trend on global markets.

Trends remain positive this year as well. For example, since the beginning of 2013 bonds have generated a 4.13% yield. Yavor Achev further said that investors may look at the eastern markets. He said that they have a big development potential and pointed out the Japanese stock market, which has had a growth of 20% year to date.

Pioneer Investments’ Mr. Achev commented that “In 2013 depending on the risk profile and the time horizon the investors are expected to turn to dividend stocks and to bonds on the emerging markets”.

Pioneer Investments is the number 1 company on the mutual funds market in Bulgaria with AUM of BGN 250.364 million as at the end of April 2013. Since the beginning of the year the company's assets have increased by 10%.

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