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

Based on month's results, Ukrainian indices of stock market closed in different directions: UX index decreased by -1.71, while the index PFTS, in contrary, added +1.26%.

In May, all sectors of public collective investment institutions (CII) finished the month with the following parameters: sector of closed-end funds became the leader by "YTD" rates of return +14.63%

(+3.27% MoM)), sector of interval CII took the second place +12.17% (-0.78% MoM), and open-ended CII were in the third place +9.25% (+1.46% MoM).

OPEN- ENDED FUNDS

As per UAIB data, the net asset value of 17 open-ended CII, as at 31.05.2017 amounted to UAH 60.96mln. According to indicators as at the end of May, the overall increase in NAV amounted to +UAH 1059.70 thsd.(+1.77%).

Sector’s funds finished the month mostly with an increase in profitability, only 3 funds recorded negative results. The range of open-ended CIIs’ rates of return was from +5.66% to -1.81%.

Based on May results, the following funds were the growth leaders in the sector:

"OTP Fond Aktsii" (+UAH 502.57 thsd. (+16.74%)) – due to positive revaluation of portfolio’s components and additional placement of certificates (+11.54% in circulation) it received a net inflow in the amount of +UAH 354.74 thsd.;

"OTP Klasychnyi" (+UAH 126.04 thsd. (+4.22%)) - by attracting investors’ funds (+2.91% in circulation) and growth of investment portfolio fund received UAH 87.50 thsd. of net inflow.

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

"UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen" (-UAH 203.55 thsd. (-6.33%)) - the largest net outflow in the sector amounting to –UAH 229.69 thsd. associated with the purchase of a significant number of investors’ certificates (-7.12% in circulation);

"KINTO-Klasychnyi" (+UAH 177.83 thsd. (+0.76%)) - despite the positive revaluation of the portfolio’s components, the redemption of 200 investment certificates from fund’s participants led to capital outflows amounting to –UAH 92.93 thsd.;

"VSI" (-UAH 25.21 thsd. (-1.52%)) - after presenting of 16 investment certificates for redemption fund experienced a net outflow amounting to –UAH 19.71 thsd.

List of major players in the sector remained unchanged in May. First place among open-ended CII by market share was occupied by fund "KINTO-Klasychnyi" (38.58% of total NAV (UAH 23.52 mln.)), second place – went to fund "Sofiivskyi" (8.09% (UAH 4.93 mln.)), the third place went to fund "UNIVER.UA/Hrushevskyi: Fond Derzhavnykh Paperiv" (6.89% (UAH 4.20 mln. )). Fourth place was fixed for the fund "KINTO-Ekviti" (6.67% (UAH 4.07 mln.)), fund "Altus-Deposyt" (5.99% (UAH 3.65 mln.)) finished top-5 of sector’s leaders.

The highest rates of return were shown by the following funds:

"Sofiivskyi" (+5.66%), "OTP Fond Aktsii" (+4.66%) and "Nadbannia" (+4.37%).

The worst indicators of changes in the value of their securities were demonstrated in May by the following funds: "Bonum Optimum" (-1.81%), "VSI" (-0.30%) and "TASK Resurs" (-0.05%).

INTERVAL FUNDS

In May the review included 3 interval CII, whose net assets, according to UAIB data, amounted to UAH 3.26 mln. In comparison with indicators of this sector as at the end of the previous month, the total NAV of funds increased by +UAH 2.51 thsd. (+0,08%).

None of interval funds was able to raise investors’ funds In May.

Based on month’s results fund "Parytet" became the growth leader in the sector (+UAH 28.92 thsd. (+2.10%)) - an increase of NAV was due to the rising value of investment portfolio.

The largest decreases of NAV were recorded by the following funds:

"TASK Ukrainskyi Kapital" (-UAH 7.52 thsd. (-0.54%)) and "Optimum" (-UAH 18.90 thsd.

(-3.91%)) - negative change of NAV took place due to reducing value of investment portfolio’s components.

Fond “Parytet” became the leader by rates of return (+2.10%), the worst performance in changes of their securities’ value were shown by fund "Optimum" (-3.91%) and "TASK Ukrainskyi Kapital" (-0.54%).

CLOSED-END FUNDS

Net assets value of 2 closed-end CII, which wereincluded in May review, as at the end of the month amounted to UAH 7.58 mln. According to filed indicators, the aggregate NAV of these funds increased by +UAH 167.10 thsd. (+2.25%).

By the results of May fund "TASK Universal" became the leader of growth in the sector (+UAH 1.70 thsd. (+0.18%)) - due to positive revaluation of investment portfolio.

Fund "Indeks Ukrainskoi Birzhi" made the largest payments to investors in May (+UAH 165.10 thsd. ((+2.57%)) - due to presentation of significant amount of equities for repurchase (-3.56% in circulation) fund lost net capital in the amount of –UAH 232.32 thsd.

Based on month’s results, rates of return in the sector were as following: "Indeks Ukrainskoi Birzhi" (+6.36%) and "TASK Universal" (+0.18%).