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

By results of the month Ukrainian stock market indices closed in different directions: UX index decreased by -1.93%, while the index PFTS resisted in the "green zone" with a value of +1.37%.

In April, all public sectors of collective investment institutions (CII) finished the month with a decrease in performance, but this correction had no significant effect on the “year-to-date” rates of return. By this indicator sectors were distributed as follows: interval funds - in the first place

(+16.44% (-1.25% MoM)), sector of closed-end CII - in the second place (+11.06% (-3.39% MoM)), and open-ended CII found themselves in third place (+9.09% (-0.26% MoM)).

OPEN- ENDED FUNDS

As per UAIB data, the net asset value of 18 open-ended CII, as at 28.04.2017 amounted to UAH 61.32mln. According to indicators as at the end of April, the overall increase in NAV amounted to +UAH 307.45thsd.(+0.52%). Amount of raised investors’ funds in April exceeded the amount of benefits, so the total net inflow of funds in the sector was UAH 197.57 thsd.

Sector’s funds finished the month mostly with an increase in profitability, only 7 funds suffered a fall. The range of rates of return of open-ended CII was from +1.69% to -4.40%.

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

“VSI" (+UAH 83.20 thsd. (+5.27%)) – through a positive revaluation of the portfolio’s components and due to additional placement of certificates (+6.26% in circulation) it received a net inflow in the amount of +UAH 99.19 thsd.;

"OTP Fond Aktsii" (+UAH 76.59 thsd. (+2.62%)) - increase in NAV and attraction of investors’ funds allowed the fund to receive “net” +UAH 74.12 thsd.(+2.46% in circulation);

"Argentum" (+UAH 123.49 thsd. (+14.62%)) - due to additional placement of 14 certificates

(+1.29% in circulation) and growth of NAV fund received a net inflow of capital in the amount of +UAH 37.84 thsd.

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

"KINTO-Klasychnyi" (+UAH 64.02 thsd. (+0.28%)) - despite the positive revaluation of the investment portfolio, the fund recorded the biggest net outflow in the sector amounting to –UAH 9.30 thsd., which was connected with the purchase of 20 certificates (-0.04% in circulation);

"UNIVER.UA/Volodymyr Velykyi: Fond Zbalansovanyi" (-UAH 34.29 thsd. (-2.89%)) - redemption of 2 investment certificates from fund’s participants led to capital outflows amounting to

-UAH 3.93 thsd.;

"KINTO Ekviti" (-UAH 23.40 thsd. (-0.58%)) - after presentation for repurchase of 2 investment certificates fund experienced net outflows amounting to –UAH 1.76 thsd.

Major players in the sector were distributed as follows: fund "KINTO-Klasychnyi" occupied the first place among open-ended CII by market share (38.06% of total NAV (UAH 23.24 mln.)), the second place went to fund "Sofiivskyi" (7.61% (UAH 4.67 mln.)), the third place - to "UNIVER.UA /Mykhailo Hrushevskyi: Fond Derzhavnykh Paperiv" (6.77% (UAH 4.15 mln.)). Fund "Kinto-Ekviti" was in the fourth place (6.49% (UAH 3.98 mln.)), fund "Altus-Deposyt" (5.91% (UAH 3.63 mln.)) completed the top five of sector’s leaders.

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

"Nadbannia" (+1.69%), "Sofiivskyi" (+1.44%) and "OTP-Klasychnyi" (+1.30%).

The worst indicators of changes in the value of their securities were demonstrated in April by the following funds: "UNIVER.UA/Yaroslav Mudryi: Fond Aktsii” (-4.40%), "TASK Resurs" (-2.60%) and "UNIVER.UA/Volodymyr Velykyi: Fond Zbalansovanyi" (-2.56%).

INTERVAL FUNDS

In April, the review included 4 interval CII, whose net assets, according to UAIB, amounted to UAH 5.69mln. In comparison with indicators of this sector as at the end of the previous month, the total NAV of funds decreased by –UAH 40.17 thsd. (-1.22%).

Fund "Parytet" became the growth leader in the sector (+UAH (9.35 thsd.(+0.68%)) - an increase in NAV was due to the rising value of investment portfolio, and additional placement of securities (+0.66% in circulation) allowed the fund to receive UAH 8.99 thsd. of net capital inflows.

The rest of the funds received negative value of changes in net assets, no benefits or attractions of investors’ funds took place, so no changes in net capital were fixed.

In terms of rates of return per month sector’s funds were distributed as follows: "Parytet" (+0.03%), "Optimum" (-0.55%) and "TASK Ukrainskyi Kapital" (-3.23%).

CLOSED-ENDFUNDS

Net assets value of 3 closed-end CII, which wereincluded in April review, as at the end of the month amounted to UAH 12.35 mln. According to filed indicators, the aggregate NAV of these funds decreased by –UAH 177.09 thsd. (-1.41%).

By changes in NAV in Apri, sector’s funds were distributed as follows: "AntyBank" (+UAH 69.55 thsd. (+1.43%)), "TASK Universal" (-UAH 99.63 thsd. (-9.36 %)) and "Indeks Ukrainskoi Birzhi"

(-147.02 thsd. (-2.23%)). Any changes in net equity were recorded.

By rates of returnper month sector’s funds were distributed as follows: "AntyBank" (+1.43%), "Indeks Ukrainskoi Birzhi" (-2.23%) and "TASK Universal" (-9.36%).