Monthly Performance Review of Publicly Offered CII in Ukraine. December 2014

Following December results, the index of Ukrainian Exchange increased by 6.33%, and the PFTS index - by 1.27%. Sharp drop in global oil prices and the relative stabilization of the exchange rates gave optimism to market participants.

Public CII used the positive dynamics in the stock markets and "played back" the November‘s fall, that enabled all sectors of investment funds to finish the year with a positive yield. Funds which were focused on instruments with fixed income had the greatest demand among investors, and it was the additional allocation of securities of these funds that resulted in a net inflow of investors’ money.

In terms of rates of return "since the beginning of the year" the sectors of public CII were distributed as follows: the closed-end funds were on the first place - (+24.20%), the open-ended CII on the second one (+13.21%), the interval CII (+5.49%) were on the third place.

OPEN- ENDED FUNDS

As per UAIB data, the NAV of 25 open-ended CII as of 30.12.2014 constituted UAH 59.82 mln. According to the provided data at the end of the previous month, the overall increase in net assets amounted to UAH + 622.74 thsd. (+1.05%). Net inflow of capital in the sector was - UAH + 328.87 thsd.

Based on month’s results, only eight funds recorded a negative change in NAV, the remaining funds finished the month with the growth. In December the range of investment funds’ rates of return was from + 5.69% to -13.18%.

Based on December results, leaders by moneys attracted in the sector of open-ended CII were:
«VSI» (+ UAH 531.63 thsd.(+52.28%)) – due to the additional placement of securities (+51.45% in circulation) ), received a net inflow of capital in the amount of UAH 523.70 thsd.;
 «UNIVER. UA/Taras Shevchenko: Fond Zaoshchadzhen» (+ UAH 119.73 thsd. (+5.66%)) – due to increasing the value of assets  and additional placement of 95 securities received + UAH 150.29 thsd. of net inflow;
«UNIVER. UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv (+ UAH 48.07 thsd. (+1.87%)) – received UAH 57.84 thsd. of net inflow due to increasing the value of assets  and additional placement of 32 securities.

The greatest payments to investors in December were made by the following funds:
 «OTP Klasychnyi» (- UAH 87.09 thsd. (-2.30%) – the largest net outflow for the month amounting to UAH 156.33 thsd. connected with the desire of investors to fix income (-4.13% in cirulation);
«Konkord Stabilnist» (- UAH 118.62 thsd. (-28.81%) – received net  outflow amounted to UAH 116.16 thsd. also through considerable payments to investors, who presented for repayment 4000 units of certificates;
 «ОТP Fond Aktsii» (- UAH 68.20 thsd.(-3.04%) – received the net outflow of capital in amount of UAH 94.91 thsd. due to the negative revaluation of the portfolio and minor payments to investors.

The list of major players of the sector in December remained unchanged. The first place by market share in the sector of open-ended CII went to “KINTO-Klasychnyi” fund (34.32% of aggregate NAV (UAH 20.53 mln.)), the second one - to “Sofiivskyi” fund (6.43% (UAH 3.85 mln.)). The third place went to “OTP Klasychnyi”  fund (6.19% (UAH 3.70 mln.)). “KINTO-Ekviti” fund (5.85% (UAH 3.50 mln)) had the fourth place and “Premium – Fond Indeksnyi” (5.48% (UAH 3.28 mln.)) was located on the honoured fifth place.

The leaders by the rates of return were the following funds: "Argentum” (+5.69%), "OTP Obligatsiinyi" (+5.14%) and “UNIVER.UA/Volodymyr Velykyi: Fond Zbalansovanyi” (+4.19%).

The worst results by the rates of return in December  were demonstrated by the following funds:  "Bonum Optimum" (-13.18%), «Delta-Fond Zbalansovanyi” (-5.00%) and «Premium-Fond Indeksnyi” (-3.17%).

INTERVAL FUNDS

In December the review included 6 interval CII, the net assets of which, as per UAIB data, comprised UAH 18.30 mln. Compared to this sector indicators at the end of the previous month, the aggregate NAV increased by UAH 853.87 thsd. (+4.89%).

In December the leaders of growth by NAV (due to positive revaluation of Investportfolio’s assets ) in the sector of  interval CII were:

- «Platynum» (+UAH 787.22 thsd.(+7.84%));
- «Аurum» (+74.93 thsd.(+3.74%));
- «UNIVER.UA/Оtaman: Fond Perspektyvnyh Aktsii» (+9.73 thsd.(+1.23%)).

The greatest payments  to investors in December were  made by:

«Кonkord Perspektyva» fund  (- UAH 5.76 thsd.(-0.23%)) – investors presented for redemption 10 securities, that led  to the net outflow of capital in the amount  of  – UAH -0.54 thsd.

The range of interval funds’ rates of return in December was between  +7.84% to  -2.03%.

The leaders by the rates of return were the following funds:
«Platynum».(+7.84%), «Аurum»(+3.74%) and «UNIVER.UA/Оtaman: Fond Perspektyvnyh Aktsii» (+1.23%).

The worst results by the rates of return in December  were demonstrated by the following funds:  «Оptimum» (-2.30%) and «Коnkord Perspectyva» (-0.21%).

CLOSED-END FUNDS

The net asset value of 3 closed-end  CII, which were included in December review at the end of the month, amounted to UAH 7.81 mln. According to the provided figures, the aggregate NAV of these funds increased by UAH 364.70 thsd. (+ 4.90%).

Based on December results, the leader by moneys attracted in the sector was “Indeks Ukrainskoi Birzhi” (+ UAH 351.07 thsd. (+7.53%)) – due to positive portfolio’s revaluation and additional placement of securities (+2.09% in circulation), it received a net inflow in the amount of UAH 95.53 thsd.

The rates of return of closed-end funds in December were distributed as follows:
 «Indeks Ukrainskoi Birzhi» (+5.32%), «UNIVER.UA/Skif: Fond Neruhomosti» (+0.65%) and «ТАSК Universal» (+0.26%).