Monthly Performance Review of Publicly Offered CII in Ukraine. July 2019
Ukrainian stock exchanges closed in the red zone for the second month in a row, UX index decreased by 3.05%, and PFTS index by 0.19%.
By the rate of return for a month, the sectors of CII with public issue had the following breakdown of the results: the sector of open-ended funds got the first place +0.70% (-0.29% for the month)), closed-end funds took second place -6.38% (-2.11% for the month), interval funds were the third -20.58% (-2.10% for the month).
OPEN-ENDED FUNDS
According to the UAIB, the value of the net assets (NAV) of 15 open-ended CII as at July 31, 2019 amounted to UAH 83,69M. According to the data provided at the end of July, the total increase of net assets amounted to UAH 241.30k (+0.29%).
All funds finished the month mostly with a decline in portfolios’ rates of return, the scope for rates of return of open-ended funds ranged from +1.59% to -1.86%.
According to the results of July, the following funds were the leaders of growth in the sector of open-ended CII:
"VSI" (+UAH 276.51k (+22.96%)) – due to a positive revaluation of the components of the portfolio and due to the additional placement of certificates (+25.00% in circulation), a net inflow of UAH 298.66k was obtained;
«OTP Klasychnyi» (+UAH 359.31k (+6.96%)) – due to attracting investors' funds (+5.28% in circulation) and growth of the investment portfolio, the fund received UAH 274.36k net inflow;
«OTP Fond Aktsii» (-UAH 78.62k (-0.66%)) – the additional placement of certificates (+0.70% in circulation) allowed the fund to receive a net capital inflow of UAH 84.38k despite the negative revaluation of the components of the portfolio.
The following funds made the biggest payments to investors in July:
«KINTO-Ekvity» (-UAH 129.20k (-2,35%)) – the largest net outflow in the sector, which is associated with the redemption of certificates from investors (-2.10% in circulation), led to a net capital outflow of UAH 115.19k;
«UNIVER.UA/Iaroslav Mudryi: Fond Aktsii» (-UAH 20.78k (-1.92%)) – the redemption from the fund investors of 10 investment certificates resulted in a net capital outflow of UAH 7.95k.
The list of key players in the sector in July was as follows: «KINTO-Klasychnyi» (37.05% of the total NAV (UAH 31.01M)) took the first place among the open-end CII in terms of market share, the second one was the «OTP Fond Aktsii» (14.11% (UAH 11.81M), the third got the fund «UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv» (8.90% (UAH 7.54M)). Fourth place was taken by the fund «OTP Klasychnyi» (6.60% (UAH 5.52M)), the fund «KINTO-Ekviti» (6.40% (UAH 5.36M)) closes the top five.
The following funds were among the leaders in terms of rate of return:
«OTP Klasychnyi» (+1.59%), «UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen» (+1.37%) and «UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv» (+1.29%).
The worst indicators in July were demonstrated by funds: «KINTO-Kaznacheiskyi» (-1.86%), «VSI» (-1.63%) and «Nadbannia» (-1.55%).
INTERVAL FUNDS
InJuly, thereviewincluded 3 intervalCII, whosenetassets, accordingtoUAIB, amountedto UAH2.59M. Compared to the indicators of this sector at the end of the previous month, the total NAV decreased by UAH 34.53k (-1.32%).
All funds in the sector experienced a decrease in NAV as a result of negative revaluation of components of investment portfolios, no net capital flows were recorded.
In July, based on the rate of return, funds in the sector had the following breakdown of the results: «Optimum» (-4.28%), «PARYTET» (-0.09%) та «TASK UKRAINSKYI KAPITAL» (-0.93%).
CLOSED-END FUNDS
The net asset value of 2 closed-end CII included in July review, at the end of the month amounted to UAH 12.65M. According to the provided data, the total NAV of these funds decreased byUAH 452.62k (-3,45%).
In July, based on the rates of return, funds in the sector had the following breakdown of the results: «Indeks Ukrainskoi Birzhi» (-3.68%) and «TASK Universal» (-0.53%).