Monthly Performance Review of Publicly Offered CII in Ukraine. October 2014
Aggression of Russia in relation to Ukraine got a new answer – West canceled a number of restrictions concerning countries - oil and gas distributors and in addition «opened» an oil valve in Saudi Arabia. These actions quite predictably led to a sharp fall in world’s oil prices. More than optimistic results of elections to Verkhovna Rada added the positive to the market participants. Therefore, by October results, the index of Ukrainian Exchange grew by 3.46%, and the index of PFTS increased by 3.20%.
The growth of quotations had a positive impact on the profitability of investment funds. However, the greatest "weight" was added by the funds, which portfolio consists of instruments with fixed income, as indices’ fall in the previous month was quite large, and risky investments funds had not enough drive in October to catch up.
In terms of rates of return "since the beginning of the year" sectors of public CII were distributed as follows: on the first place - the closed-end funds (+28.23%), on the second – open-ended CII (+13.31%), interval CII (+9.40%) were on the third place.
OPEN- ENDED FUNDS
As per UAIB data, the NAV of 27 open-ended CII as of 31.10.2014 constituted UAH 67.89 mln. According to the provided data at the end of the previous month, the overall decrease in net assets amounted to UAH -107.22 thsd. (-0.16%). Net outflow of capital in the sector was - UAH 1752.60 thsd. due large payments to investors.
Based on month’s results, only four funds recorded a negative change in NAV, the remaining funds successfully used the growth of quotations on the exchanges. In October, the range of rates return of investment funds fluctuated from + 9.38% to -8.69%.
Based on October results, growth leaders in the sector of open-ended CII were:
«UNIVER.UA/Yaroslav Mudryi: Fond Aktsii» (+ UAH 93.37 thsd. (+9.38%)), "UNIVER.UA/Volodymyr Velykyi: Fond Zbalansovanyi” (+ UAH 55.90 thsd. (+5.84%)),and “Altus – Depozyt” » (+UAH 25.83 thsd. (+1.21%)). None of the funds received a dime net capital inflows due to lack of investments attraction.
The greatest payments to investors in October were made by the following funds:
"UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen” (- UAH 956.12 thsd. (-31.96%) – the largest net outflow for the month amounting UAH 938.59 thsd. due to redemption of the great number of certificates from the investors (-31.62% in circulation);
"OTP Klasychnyi" (-UAH 207.52 thsd. (-5.20%) – the net outflow amounted to UAH 259.57 thsd. also due to substantial payments to investors, who presented for redemption 146 units of certificates;
"UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv" (- UAH 179.00 thsd. (-6.90%) – received the net outflow of capital amounted to UAH 201.09 thsd. due to the negative revaluation of the portfolio and payments to investors.
The list of major players of the sector changed slightly in October. The first place by market share in the sector of open-ended CII went to “KINTO-Klasychnyi” fund (31.04% of aggregate NAV (UAH 21.08 mln.)), the second one - to “Sparta Zbalansovanyi” fund (13.40% (UAH 9.09 mln.)). The third place went to “KINTO-Ekviti” fund (5.93% (UAH 4,02 mln.)). “OTP Klasychnyi” fund (5.58% (UAH 3.79 mln)) had the fourth place and “Premium – Fond Indeksnyi”(5.02% (UAH 3.41 mln.)) is located on the honoured fifth place.
The leaders by the rates of return were the following funds: "UNIVER.UA/Iaroslav Mudryi: Fond Aktsii" (+9.38%), “Nadbannia” (+7.26%) and “KINTO-Ekviti” (+6.67%).
The worst results by the rates of return in October were demonstrated by the following funds: “Delta Fond Zbalansovanyi” (-8.69%), “FIDO Fond Obligatsiinyi (-0.63%) and "UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen” (-0.49%).
INTERVAL FUNDS
In October the review included 6 interval CII, the net assets of which, as per UAIB data, comprised UAH 18.55 mln. Compared to this sector indicators at the end of the previous month, the aggregate NAV decreased by UAH 3.52 thsd. (-0.02%).
In October the leader by moneys attracted in the sector of interval CII was «Aurum» fund (+UAH 170.58 thsd. (+7.95%)) – due to increase in investment portfolio’s value and by attracting funds from investors (+2.42% in circulation) it received UAH 54.43 thsd. of net inflow of capital.
The greatest payments to investors in October were made by "Platynum" fund (- 141.05 thsd. (-1.31%)) – investors presented for redemption 599 units of securities, that led to the net outflow of capital in the amount of –UAH 178.54 thsd.
The range of interval funds’ rates of return in October was between +5.40% до -2.08%.
Leaders by the rates of return in October were the funds «Aurum» (+5.40%), "UNIVER.UA/Otaman: Fond Perspectyvnyh Aktsii" (+0.60%) та «Platynum» (+0.33%).
The worst results by the rates of return in October were demonstrated by the funds: «ТАSK Ukrainskyi Kapital» (-2.08%) and "Konkord Perspectiva” (-0.18%)).
CLOSED-END FUNDS
The net asset value of 4 closed-end CII, which were included in October review at the end of the month, amounted to UAH 768.92 mln. According to the provided figures, the aggregate NAV of these funds increased by UAH 218.03 thsd. (+2.79%).
In October no one fund received a net inflow of capital.
The biggest benefits to investors in October were done by “UNIVER.UA/Skif Fond Neruhomosti” (- UAH 71.26 thsd. (-4.31%)) – due to investors’ presentation of 55 equities for redemption (-5.16% in circulation) fund experienced net outflow in amount UAH 85.26 thsd.
The range of rates of return of closed-end funds in October fluctuated from +5.87% to -0.09%.
The leaders by the rates of return in October were the following funds:
“Indeks Ukrainskoi Birzhi” (+5.87%) and “UNIVER.UA/Skif: Fond Nerukhomosti (+0.88%).
The worst results in October were fixed by “TASK Universal” fund (-0.09%).