Monthly Performance Review of Publicly Offered CII in Ukraine. June 2015

By the end of June Ukrainian Stock Exchange index rose by 0.10%, the PFTS index - by 0.86%. All month indicators were in a moderate lateral trend against the backdrop of regular summer downturn of business activity.

In terms of return "YTD" public CII’ sectors were as follows: on the first place - open-ended funds (+6.86%), on the second place - interval ones (+0.61%), on the third place -  closed-end CII (-3. 38%).

OPEN- ENDED FUNDS

As per UAIB data, the NAV of 24 open-ended CII as of 30.06.2015 constituted UAH 62.07 mln. According to the indicators at the end of the previous month, the overall decrease in net assets amounted to UAH - 1393.36 thsd. (-2.20%). The total net outflow from funds in the sector amounted to UAH 1626.25 thsd. due to significant payments to investors.

The vast majority of funds finished the month with growth of portfolios’ rates of return, only 7 funds recorded a negative value. In June, a range of investment funds’ rates of return  was from +4.77% to -4.41%.

Based on June results, the leader of growth in the sector of open-ended CII was:
‘”Argentum” fund (+UAH 22.11 thsd.(+1.26%)) – due to additional placement of certificates (increase in circulation by 0.56%) received a net inflow in the amount of UAH 9.89 thsd.;

The greatest payments to investors in June were made by the following funds:
  “OTP Obligatsiinyi” (-UAH 869.11 thsd. (-61.70%)) – the largest net outflow in the amount of –UAH 893.92 thsd. due to considerable redemption of certificates from the investors (-63.44% in circulation);
“OTP Klasychnyi” (-UAH 416.22 thsd. (-19.18%)) –net outflow constituted -UAH 445.06 thsd. also due to redemption of 225 units of investment certificates;
“Altus-Strategichnyi” (-UAH 193.25 thsd. (-28.58%)) – by presenting for redemption of 83 units of investment certificates received net outflow in the amount of –UAH 199.02 thsd.

List of major players in the sector in June remained unchanged.The first place by market share among open-ended CII went to "KINTO-Klasychnyi" fund (35.33% of total NAV (UAH 21.93 mln.), and the second one - to "Sofiivskyi" fund (6.38% (UAH 3.96 mln.)). "UNIVER.UA/ Myhailo Grushevskyi: Fond Derzhavnyh Paperiv" fund (6.33% (UAH 3.93 mln.) took the third place. "KINTO Ekvity" fund located on the fourth place (6.14% (UAH 3.81 mln. )), “Premium Fond Indeksnyi” closed the top five  (5.21% ( UAH 3.23 mln.)).

Among the leaders by the rates of return earned should be noted the following funds: “OTP Obligatsiinyi” (+4.77%), “Nadbannia” (+1.76%) and “OTP Klasychnyi” (+1.60%).

The worst performance in June was demonstrated by the following funds: “Sofiivskyi”
(-4.41%), “Konkord Dostatok” (-1.73%) and “UNIVER.UA/Yaroslav Mudryi: Fond Aktsii» (-1.01%).

INTERVAL FUNDS

In June the review included 6 interval CII, which net assets, according to UAIB data, equaled UAH 17.5 mln. Compared with the sector’s indicators at the end of the previous month, an aggregate NAV increased by UAH 248.16 thsd. (+1.44%).

Increase of invest portfolios’ value this month in the sector of interval funds was exclusively due to a positive revaluation of assets.

In June the leader of growth in the sector of interval CII was: “Platynum” fund  (+264.6 thsd. (+2.35%)) - increase in net assets’ value was exclusively due to the rising value of investment portfolio’s components.
 
The largest payments to investors in June  were made by the following funds:
“Zbalansovanyi Fond Parytet” (+UAH 1.07 thsd. (+0.10%)) – despite the increase in NAV, investors presented for redemption 7 securities 7 (-0.87% in circulation), that led to a net outflow of capital in the amount of –UAH 9.65 thsd.

The rest of the funds did not record any changes in the net equity.

The range of  interval funds’ rates of return in June fluctuated between +2.35 and
-2.98%.

Among the leaders by the rates of return the following funds were noted: “Platynum” (+2.35%), “TASK Ukrainskyi Kapital” (+1.22) and “Zbalansovanyi Fond “Parytet” (+0.98).

The worst performance in June  was demonstrated by the following funds:
“UNIVER.UA/Otaman: Fond Perspektyvnyh Aktsii” (-2.98%), “Optimum” (-0.57%), and “Aurum” (-0.30%).

CLOSED-END FUNDS

Net asset value of 4 closed – end CII, which were included in June review, at the end of the month comprised UAH 12.35 mln. According to the indicators filed, the aggregate NAV of these funds increased by UAH 65.13 thsd. (+0.53%).

No fund registered any changes of net capital, increase of the portfolios’ value was held due to positive revaluation of assets.

The range of rates of return of closed-end funds in June varied between +1.29% and 
-1.88%.

The positive yield was fixed by the following funds: "Indeks Ukrainskoi Birzhi” (+1.29) and  “AntyBank” (+0.88%).

The worst performance in June  was demonstrated by the following funds: "UNIVER.UA/Skif: Fond Neruhomosti” (-1.88%) and “TASK Universal” (-1.05%)