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

In December Ukrainian stock market indices continued the downward trend. According to the results of the month, PFTS index lost 2.89%, UX index – 4.23%. Generally, PFTS index dropped to 2004 level, and UX index recorded the lowest value since the beginning of its activities.

In terms of rates of return public CII sector distributed as follows: first place - interval funds

(+0.88%), the second – open-ended (+0.13%), closed-end CII – the third (-1.73%).

OPEN- ENDEDFUNDS

As per UAIB data, the NAV of 21 open-ended CII as of 30.12.2015 constituted UAH 54.41mln. According to the indicators at the end of the previous month, the overall increase in net assets’ value amounted to UAH +485.43thsd. (+90%). The total funds’ net inflow in the sector amounted to +UAH 175.06 thsd.

For the month only nine funds recorded a positive change in NAV, the rest - finished the month with a decrease in performance. In December, the range of investment funds’ yield was from +4.24% to -2.45%.

Based on December results, the leaders of growth in the sector were:

“UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv” (+UAH 853.32 thsd. (+20.01%)) – due to additional placement of securities (+17.84 in circulation) received a net inflow in the amount of UAH 758.06 thsd.;

“UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen” (+UAH 201.73 thsd. (+7.09%)) - by increasing the value of assets and additional placement of 101 units of securities received a net inflow in the amount of UAH 192.14 thsd.;

Other funds that received the growth in NAV due to the positive revaluation of the components of the portfolio, did not attract investors' funds and did not increase net capital.

The greatest payments to investors in December were made by the following funds:

“VSI” (-UAH 326.17 thsd. (-16.94%)) – the largest net outflow for the month in the amount of

–UAH 335.03 thsd. linked to the desire of investors to fix income (-17.54% in circulation);

“Altus-Strategichnyi” (-UAH 139.58 thsd. (-21.43%)) - net outflow amounted to UAH 145.14 thsd. also through considerable payments to investors, which filed for redemption 57 units of certificates;

“OTP Klasychnyi” (-UAH 103.46 thsd. (-10.03%)) – received net capital outflow in amount of UAH 115.71thsd. through negative revaluation of the portfolio and substantial payments to investors.

The first place among open-ended CII by market share took fund "KINTO-Klasychnyi” (38.99% of the aggregate NAV (UAH 21.21 mln.)), the second one – Fund "UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv" (9.41% (UAH 5.12 mln.)), KINTO-Ekviti" fund was the third one (6.06% (UAH 3.29 mln.)). The fourth place went to "Altus-Deposyt" fund (5.62% (UAH 3.06 mln.), "UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen" was on the honorable fifth place (5.60% (UAH 3.05 mln)).

Among the leaders by rates of return the following funds were noted: “OTP Fond Aktsii” (+4.24%), ““UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv” (+1.84%) and “OTP Klasychnyi” (+1.27%).

The worst performance in terms of yield in December was demonstarated by the following funds: “UNIVER.UA/Iaroslav Mudryi: Fond Aktsii” (-2.45%), “Sofiivskyi” (-2.11%) and “UNIVER.UA/Volodymyr Velykyi: Fond Zbalansovanyi” (-1.54%).

INTERVAL FUNDS

In December review included 6 interval CII, which net assets, according to UAIB data, equaled to UAH 15.27 mln.Compared with this sector’s indicators at the end of the previous month, an aggregate NAV increased by UAH 57.80thsd.(+0.38%).

According to the results of December the leaders of growth in NAV (due to the positive revaluation of the assets of investment portfolio) in the sector of interval CII were:

- “UNIVER.UA/Otaman: Fond Perspectyvnyh Aktsii” (+UAH 47.67 thsd. (+6.97%));

- “Platynum” (+UAH37.25 thsd. (+0.43%));

- “TASK Ukrainskyi Kapital”(+UAH 1.90 thsd. (+0.15%)).

The range of rates of return of interval funds in December fluctuated between +6.97% to - 1.74%.

Among the leaders in yield were noted funds: “UNIVER.UA/Otaman: Fond Perspectyvnyh

Aktsii” (+6.97%), “Platynum” (+0.43%) and “TASK Ukrainskyi Kapital”(+0.15%).

The worst indicators in terms of rates of return in December were demonstarated by the following funds: “Aurum” (-1.74%), ”Optimum” (-0.37%) and “Konkord Perspektyva” (-0.18%).

CLOSED-END FUNDS

Net asset value of 3 closed-end CII, which were included in December review, at the end of the month comprised UAH 7.14mln. According to the filed indicators, the aggregate NAV of these funds decreased by - UAH 191.49 thsd. (-2.61%).

The yield of closed-end funds in December was distributed as follows: “Indeks Ukrainskoi Birzhi” (-3.44%), “UNIVER.UA/Skif: Fond Neruhomosti” (-1.61%) and “‘TASK Universal” (-0.14%).