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

In September, the Ukrainian Stock Exchange indexes closed with significant growth of indicators. Ukrainian Stock Exchange Index increased by +13.95%, while the PFTS index by +7.49%. Over the past six months, stock markets show growth and from the beginning of the year UX index recorded +18.12%, while the PFTS index is only approaching the positive zone with a score of -0.34%.

Open–ended investment funds continued to top the list in terms of YTD profitability with a value of +11.52% (+3.58% in September), closed-end funds took the second place (+4.20% (+5.10% for the month)), sector of interval CII remained in third place with -0.38% (+1.34%).

OPEN-ENDED FUNDS

As per UAIB data, net asset value of 19 open-ended CII as at 30.09.2016 amounted to UAH58.17mln. According to the indicators of the end of the previous month, the total increase in NAV of net assets amounted to +UAH1,418.47 thsd. (+2.60%). However, despite the overall increase in NAV due to positive revaluation of portfolios, the total net outflow of assets in the sector amounted to

-UAH 177.36 thsd.

Following the September results, the only one open-ended fund closed in the "red" zone, all the rest funds - recorded significant growth. In September, the yield range of open-ended CII was between

+13.98% and -1.74%.

Based on September results, the following Funds were the growth leaders in the sector:

"Argentum" (+UAH 166.66 thsd. (+15.44%)) - by attracting investor funds (+1.28% in circulation) received UAH 14.85 thsd. of net inflow;

"UNIVER.UA/Yaroslav Mudryi: Fond Aktsii" (+UAH 64.81 thsd. (+9.11%)) - due to additional placement of 4 certificates received net inflow in the amount of UAH 2.02 thosd.;

"Sofiivskyi" (+UAH 296.63 thsd. (+8.01%)) - NAV increase was exclusively due to positive revaluation of investment portfolio’s components.

The largest payments to investors were made in September by the following funds:

"Nadbannia" (-UAH 81.39 thsd. (-12.06%)) - the largest net outflow in the amount of –UAH 104.54 thsd. associated with the purchase of a significant number of investors’ certificates (-15.06% in circulation);

“KINTO-Kaznacheiskyi” (-UAH 33.72 thsd.(-2.23%)) – net outflow was –UAH 54.77 thsd. also due to redemption of investors' certificates;

“КІNТО-Кlasychnyi”» (+UAH 409.90 thsd. (+1.93%)) – by presenting for redemption of 74 units of investment certificates received the net outflow amounted to -UAH 31.50 thsd.

The list of major sector’s players in September remained unchanged. Fund "KINTO-Klasychnyi” occupied the first place by market share among open-ended CII (37.18% of aggregate NAV (UAH 21.63 mln.), the second place went to Fund "UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnykh Paperiv" (9.06% (UAH 5.27 mln.)). Fund «Sofiivskyi» ended in the third place (6.87% (UAH 3.99 mln.), Fund «КІNТО-Еkviti» (6.09% (UAH 3.55 mln.)) was in the fourth place. Fund «Аltus-Deposyt» (5.93% (UAH 3.45 mln.)) placed on the honourable fifth place.

Among leaders by the rates of return there were the following Funds: “Аrgentum” (+13.98%), “ОТP Fond Aktsii” (+13.21%) and “UNIVER.UА/Yaroslav Мudryi: Fond Aktsii” (+8.80%).

Fond “SEM Azhio” demonstrated the worst performance in September (-1.74%).

INTERVAL FUNDS

In September, the review included 7 interval CII, whose net assets, according to UAIB data, equaled UAH 14.15 mln.Compared with this sector’s indicators as of the end of the previous month, an aggregate NAV of these fundsincreased by+UAH 488.68thsd. (+3.67%).

Based on September results fond “Aurum” became the leader in raising nvestors’ funds

(+UAH 80.41 thsd. (+4.44%)) - due to additional placement of securities (+0.53% in circulation) received UAH 10.00 thsd. of net inflow.

Fund "Optimum" (-UAH 2.73 thsd. (-0.47%)) recorded the biggest fall of NAV due to negative revaluation of the investment portfolio.

No changes in net capital were fixed in the sector.

The range of interval funds’ rates of returnin September varied from +4.36% tо -1.81%.

Funds «Platynum» (+4.36%), «Аurum» (+3.89%) and «ТАSК Ukrainskyi Каpital» (+3.23%) became the leadersby rates of return.

Funds «Platynum» (-6.65%), «ТАSК Ukrainskyi Каpital» (-1.39%) and «Оptimum» (-0.47%) demonstrated the worst results.

Only one fund "Optimum" showed the negative results (-1.81%).

CLOSED-ENDFUNDS

Net asset value of 4 closed-end CII, which were included in the September review, at the end of the month totaled UAH 12.19mln. According to filed indicators, the aggregate NAV of these funds increased by +UAH 1,346.92thsd. (+12.41%).

Fund “Indeks Ukrainskoi Birzhi” (+UAH 1,188.65 thsd. (+1.57%)) became the leader in attracting of investors’ funds - due to additional placement of equities (+13.26% in circulation ) it received +UAH 599.34 thsd. of net inflow.

No other fund recorded any changes in net equity, changes in NAV in the sector took place exclusively due to the revaluation of investment portfolio’s components.

Range of rates of return of closed-end Funds in September was from +13.16% to-0.83%.

Indicators of rates of return in September were the following: «Іndeks Ukrainskoi Birzhi»

(+13.16%), «UNIVER.UA/Skif: Fond Nerukhomosti» (+5.95%), «АntyBank» (+2.11%) and «ТАSК Universal» (-0.83%).