Monthly Performance Review of Publicly Offered CII in Ukraine. July 2017
For the second consecutive month, Ukrainian stock exchanges closed in the "green" zone, UX index increased by +6.76%, PFTS index added +0.44%.
In July, all sectors of public collective investment institutions completed the month with the following indicators: sector of closed-end funds became the leader in terms of "profit from the beginning of the year" +24.95% (+2.70% over the month), interval CII took the second place - +17.91%
(-1.89% for the month), while open-ended CII were in the third place with an index of +14.63% (+1.33% for the month).
OPEN-ENDED FUNDS
According to the UAIB data, the value of net assets of 18 open-ended CII as at 31.07.2017 amounted to UAH66.58 mln. According to indicators as at the end of July, the total increase of the NAV amounted to +UAH 716.00 thsd.(+1.30%).
Sector’s funds completed the month mainly with increasing yield, only two funds recorded a negative result. Range of the open-ended CIIs’ yield varied from +5.17% to -0.31%.
Based on July results, the following funds were the growth leaders in the sector:
"VSI" (+UAH 77.73 thsd. (+4.70%)) - due to a positive revaluation of portfolio’s components and to the additional placement of certificates (+5.02% in circulation), it received a net inflow at the amount of +UAH 82.11 thsd.;
“KINTO-Kaznacheiskyi" (+UAH 53.18 thsd. (+3.32%)) - due to attraction of investors' funds (+1.94% in circulation) and growth of investment portfolio, the fund received UAH 31.27 thsd. of net inflow;
"Nadbannia" (+UAH 55.02 thsd. (+6.53%)) – also due to a positive reassessment of the components of the portfolio and the additional placement of certificates (+1.30% in circulation), it received a net inflow of +UAH 10.90 thsd. [1]
The largest payments to investors were made in July by the following funds:
"Altus-Zbalansovanyi" (-UAH 4.75 thsd. (-0.17%)) - the largest net outflow in the sector in the amount of –UAH 28.45 thsd. associated with the ransom of a small number of certificates from investors (-0.99% in circulation);
"KINTO-Klasychnyi" (+UAH 297.39 thsd. (+1.25%)) - despite positive reassessment of portfolio’s components, the redemption of 23 investment certificates from the fund's members resulted in a net outflow of capital in the amount of –UAH 10.92 thsd.;
The list of major players in the sector in July underwent dramatic changes. The first place among the open-ended CII in terms of market share was taken by the “KINTO-Klasychnyi” Fund (36.23% of the total NAV (UAH 24.12 mln.)), the second place was unexpectedly taken by the “OTP Fond Aktsii” Fund (7.88% (UAH 5.25 mln.), having displaced the “Sofiivskyi” Fund to the third place (7.80% (UAH 5.19 mln.)). The fourth place was fixed by the fund "UNIVER.UA/ Mykhaylo Hrushevskyi: Fond Derzhavnykh Paperiv " (6.39% (UAH 4.25 mln.)), the “KINTO-Ekviti” Fund (6.23% (UAH 4.15 mln.)) completed the top five of sector’s leaders.
The highest rates of return were demonstrated by the following funds:
«Nadbannia» (+5.17%), «UNIVER.UA/Yaroslav Mudryi: Fond Aktsii» (+2.66%) and «UNIVER.UA/Volodymyr Velykyi: Fond Zbalalsovanyi» (+2.12%).
The worst indicators of changes in the value of their securities in July were demonstrated by funds: “VSI” (-0.31%) and “Bonum Optimum” (-0.30%).
INTERVAL FUNDS
In July the review included 5 interval CII, whose net assets, according to UAIB data, amounted to UAH15.71mln. In comparison with indicators of this sector as at the end of the previous month, the total NAV of funds decreased by -UAH 34.39 thsd. (-1.08%).
According to the results of the month, the “Paryutet” Fund became the leader of the growth in the sector (+UAH 68.19 thsd. (+4.79%)) - due to a positive reassessment of the components of the portfolio and due to the additional placement of certificates (+1.70% in circulation) it received net inflow in the amount of +UAH 24.14 thsd. [2]
Major reductions in NAVs were fixed by funds:
"TASK Ukrainskyi Kapital" (-UAH 96.90 thsd. (-7.48%)) and "Optimum" (-UAH 5.68 thsd.
(-1.23%)) - a negative change in NAV occurred due to reduction of the investment portfolio components’ value.
The “Parytet” Fund became the leader by rates of return (+2.10%); the “Optimum” Fund
(-3.91%) and “TASK Ukrainskyi Kapital” Fund (-0.54%) demonstrated the worst performance indicators for changes in the value of their securities.
CLOSED-ENDFUNDS
Net asset value of 2 closed-end CII included in the July survey, as at the end of the month amounted to UAH 8.29 mln. According to the provided indicators, the total NAV of these funds increased by +UAH 26.02 thsd. (+2.70%).
According to the results of July, the fund "TASK Universal" (+UAH 26.02 thsd. (+2.70%)) became the leader of growth in the sector - due to the positive revaluation of investment portfolio.
[1] According to the available data, the total net inflow/outflow in the sector amounted to +UAH 89.45 thsd., but due to the lack of data of some funds, the information on which is insufficient for comparison with the previous period, the net inflow/outflow amounted to +UAH 1,544.26 thsd.
[2] According to available data, the total net inflow/outflow amounted to +UAH 24.14 thsd., but due to the lack of data of some funds, the information on which is insufficient for comparison with the previous period, the net inflow /outflow amounted to +UAH 33.08 thsd.