摘要：Since the end of March 2005, the yield of
investment funds has been mainly infl uenced by the
increase in key interest rates and the rapid growth of
developing markets, primarily caused by the foreign
investment infl ow, decreased risk premiums and
the rise in commodity prices (see Figure 5.1). The
development of Central and Eastern European and
Russian markets as profi table investment regions
in 2005 took the yield of equity funds registered in
Estonia to 43% on average by the end of March
2006 as the sum of four consecutive quarters. The
average yield of money market funds grew as well
along with the rise in key interest rates, amounting
to 1.9% at the end of March.
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