Monthly Performance Review of Publicly Offered CII in Ukraine. February 2016

Unsuccessful attempt of the Prime Minister’s Yatsenyuk and the Cabinet of Ministers’ resignation led to a significant foreign exchange rates’ increase. In addition, reduction in the number of securities in the index basket did not add positive to market participants.

In February the Ukrainian stock market indices closed multidirectionally. Over the last month the UX index lost -3.22%, while the PFTS index added +1.22%.

OPEN-ENDED FUNDS

As per UAIB data, the NAV of 20 open-ended CII as of 29.02.2016 constituted UAH 53.67mln. According to the indicators at the end of February, the overall increase in net assets’ value amounted to UAH +512.30thsd. (+0.96%). But through considerable payments to investors total net outflow of funds in the sector amounted to –UAH 217.20 thsd.

Funds of the sector ended the month mostly with an increase in the yield, only 8 funds have undergone a fall. The profitability range of open-ended CII varied from +9.88% to -2.78%.

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

“Argentum” (-UAH 10.38 thsd. (-1.09%)) – despite the negative revaluation of the portfolio’s components received a net inflow in amount of +12.08 thsd. owing to additional placement of 549 units of certificates;

“VSI” (+UAH 132.36 thsd. (+9.61%)) – through attracting additional investors’ funds (+0.74% in circulation) received UAH 4.94 thsd. of net inflow;

"UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv" (+UAH 151.11 thsd. (+30.21%)) – a significant attraction of investors’ funds (+28.64% in circulation) enabled the Fund to obtain “net” UAH 144.84 thsd.

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

“Nadbannia” (-UAH 159.06 thsd. (-23.77%)) – the greatest net outflow in amount of –UAH 158.88 thsd. associated with the redemption of a significant number of investors’ certificates (-23.88% in circulation);

“KINTO-Klasychnyi” (+UAH 122 thsd. (+0.58%)) – despite the positive revaluation of the portfolio’s components, the repurchase of 160 investment certificates from the Fund's participants led to capital outflows in the amount of –UAH 64. 90 thsd.

“UNIVER.UA/Volodymyr Velykyi: Fond Zbalansovanyi” (-UAH 17.48 thsd. (-1.79%)) – due to presentation for redemption of 5 investment certificates Fund has suffered net outflows in the amount of –UAH 8.11 thsd.

Significant changes occurred in the list of key players of the sector in February. The first place among open-ended CII by market share ranked fund "KINTO-Klasychnyi” (39.45% of the aggregate NAV (UAH 21.18 mln.)), the second one – Fund "UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv" (10.62% (UAH 5.69 mln.)), "UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen" fund was the third one (6.10% (UAH 3.28 mln.)). "Altus-Deposyt" fund (6.04% (UAH 3.24 mln.) took the fourth place, shifting “Sofiivskyi” Fund to the fifth place (5.38% (UAH 2.96 mln)).

Amongtheleadersbyratesofreturn the following funds were noted: “Premium – Fond Zbalansovanyi” (+9.88%), “VSI” (+8.81%) and “KINTO-Kaznacheyskyi” (+6.38%).

The worst indicators of changes in the value of their securities in February were demonstrated by the following funds: “UNIVER.UA/Iaroslav Mudryi: Fond Aktsii” (-2.78%), "Argentum" (-2.32%) and “Premium – Fond Indeksnyi” (-1.61%).

INTERVAL FUNDS

In February review included 6 interval CII, which net assets, according to UAIB data, equaled to UAH 13.53 mln.Compared with this sector’s indicators at the end of the previous month, an aggregate NAVof these Fundsincreased by+UAH 194.09thsd.(+1.46%).

In February none of interval Funds succeeded to attract investors’ funds.

The greatest payments to investors in February were made by “Aurum” Fund (+UAH 17.21 thsd. (+1.14%)) – investors presented for redemption 252 units of securities (-0.45% in circulation), that led to the net outflow of capital in the amount of –UAH 6.90 thsd.

The range of rates of return of interval funds in February was between +7.57% and -0.51%.

Among the leaders in yieldthe following Funds were noted:“UNIVER.UA/Otaman:Fond Perspectyvnyh Aktsii” (+7.57%), “Aurum” (+1.60%) and “Zbalansovanyi Fond Parytet” (+1.48%).

”Optimum” Fund demonstarated the worst indicators in terms of rates of return (-0.51%).

CLOSED-ENDFUNDS

Net asset value of 4 closed-end CII, which were included in February review, at the end of the month comprised UAH 10.57 mln. According to the filed indicators, the aggregate NAV of these funds decreased by -UAH 160.49thsd.(-1.50%).

No other Fund has recorded any changes of net capital.

The range of yield of closed-end funds in February fluctuated in the interval from +0,58% to -4.15%.

The leader by the rates of return was "AntyBank" Fund (+0.58%).

The worst indicators of changes in the value of their securities in February were demonstrated by funds: “UNIVER.UA/Skif: Fond Neruhomosti” (-4.15%), “Indeks Ukrainskoi Birzhi” (-2.71%) and "TASK Universal" (-1.21%).