Monthly Performance Review of Publicly Offered CII in Ukraine. January 2017

For Ukrainian stock exchanges the year started quite optimistic. Thus, based on January results, the Ukrainian Stock Exchange index rose by 9.21%, while the index PFTS – by 1.95%.

In terms of rates of return sectors of public CII were distributed as follows: closed-end funds (+3.63%) in the first place, interval funds (+3.16%) – in the second place, open-ended CII (+2.99%)– in the third place.

OPEN- ENDED FUNDS

As per UAIB data, the net asset value (NAV) of 18 open-ended CII, which provided reports for the month, amounted to UAH 58.75 mln. According to the indicators filed at the end of the previous month, the overall increase in net assets amounted to +UAH 881.75 thsd.(+1.64%). Movement of net capital in the sector amounted to –UAH 295.87 thsd. through visible payments to investors, who decided to fix profits.

In January, the range of investment funds’ yield was from +8.86% to -0.05%. Based on the month’s performance, only one fund recorded a negative change in NAV, the rest ones - finished the month with growth of indicators of profitability.

The top gainers (by increasing the value of the investment portfolio) in the sector of open-ended CII became the following funds:

"KINTO-Klasychnyi" (+UAH 357.56 thsd. (+1.65%)) - due to additional placement of 14 securities received UAH 6.12 thsd. of net inflow of capital;

"OTP-Klasychnyi" (+UAH 43.67 thsd. (+1.62%)) received growth of NAV due to a slight increase in turnover of IC (+0.19%);

The remaining funds did not receive inflows of net capital, increase in NAV was due to positive revaluation of investment portfolios’ components.

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

"Altus-Strategichnyi" (-UAH 133.81 thsd. (-27.43%)) - the largest net outflow in the amount of

-UAH 137.05 thsd. due to significant redemption of certificates from investors (-27.98% in circulation);

"VSI" (-UAH 54.39 thsd. (-3.59%)) - also because a ransom of 64 pieces of certificates from investors the net outflow amounted to –UAH 82.13 thsd.;

"Altus-Zbalansovanyi" (-UAH 49.95 thsd. (-1.76%)) – due to presenting for redemption of 20 investment certificates (-2.75% in circulation) a net outflow amounted to –UAH 78.13 thsd.

Fund "KINTO-Klasychnyi” occupied the first place by market share among open-ended CII (37.60% of total NAV (UAH 22.08 mln.)), the second place went to Fund "UNIVER.UA/Mykhailo Hrushevskyi: Fond Derzhavnykh Paperiv" (8.63% (UAH 5.06 mln.)), fund "Sofiivskyi" became the third one (7.22% (UAH 4.24 mln.)). Fond “KINTO-Ekviti” was in the fourth place (6.22% (UAH 3.65 mln.), the honorary fifth place went to "Altus-Depozyt" (6.13% (UAH 3.60 mln.)).

Among leaders by the rates of return there were the following Funds: “Argentum” (+8.86%), «ОТP Fond Aktsii” (+6.64%) and “UNIVER/UA Yaroslav Mudryi: Fond Aktsii” (+5.74%).

Only one fund recorded negative performance in January - "Bonum Optimum" (-0.05%).

INTERVAL FUNDS

In January the review included 5 interval CII, which net assets, according to UAIB data, equaled to UAH 13.44mln.Compared with this sector’s indicators as at the end of the previous month, the aggregate NAV of these fundsincreased byUAH 430.12thsd. (+3.31%).

In the first months of the year no changes of net capital were recorded in the sector, increase in NAV was due to growth of assets’ value.

The largest payments to investors were made in January by “Platynum” fund (+UAH 255.99 thsd. (+3.11%)) – the largest net outflow in the amount of -UAH 131.47 thsd. due to the significant repurchase of securities from investors (-1.60% in circulation).

The range of rates of return of interval funds in January was from +5.51% to -0.67%.

Leaders in yield were the following funds: "Aurum" (+5.51%), "Platynum" (+4.78%) and "TASK Ukrainskyi Kapital" (+4.16%).

Fund "Optimum" was the only one that showed the worst performance in January (-0.67%).

CLOSED-END FUNDS

The net asset value of 3 closed-end CII, which were included in January review, at the end of the month totaled UAH 12.02mln.

In the first months of the year no changes in net capital were recorded in the sector, increase in NAV was due to positive revaluation of assets.

The range of yield of closed-end funds in January wasas following:: “Indeks Ukrainskoi Birzhi” (+8.95%), “AntyBank” (+1.84%) and “TASK Universal” (+0.09%).