Monthly Performance Review of Publicly Offered CII in Ukraine. May 2016
Based on monthly results Ukrainian stock market’s indices closed with negative values: UX index decreased by -0.21%, while the PFTS index lost -3.65%.
In May, all sectors of public collective investment institutions (CII) finished the month with a decline in profitability. The leader of yield "from the beginning of the year" was the sector of open-ended funds +2.87% (-1.28% for the month), the second place went to the sector of interval CII -3.31% (-2.43% for the month), and closed-end CII appeared in the third place -10.20% (-1.20% for the month).
OPEN- ENDED FUNDS
As per UAIB data, net asset value of 16 open-ended CII as of 31.05.2016 amounted to UAH49.59 mln. According to the indicators of the end of May, the total decrease in NAV amounted to -UAH 891.43 thsd. (-1.77%). And due to substantial payments to investors the total net capital outflow in the sector amounted to –UAH 99.11 thsd.
Sector’s funds finished the month mainly with decrease in profitability, only 6 funds registered the positive result. The range of rates of return of open-ended CII varied from +1.18% to -9.88%.
Based on May results, growth leaders in the sector werethe following Funds:
«VSI» (+UAH 19.74 thsd.(+1.47%)) – due to a positive revaluation of the portfolio’s components and additional placement of certificates (+1.75% in circulation) received a net inflow in the amount of +UAH 23.77 thsd.;
«КІNТО-Каznacheiskyi» (-UAH 203,75 thsd. (+9.65%)) – despite the negative revaluation of the investment portfolio owing to involvement of investors’ funds (+0.26% in circulation) Fund received +UAH 4.87 thsd. of net inflow.
The largest payments to investors were made in May by following funds:
«Аltus-Stratehichnyi» (-UAH 77.30 thsd.(-14.58%)) – the largest net outflow in the sector in the amount of –UAH 83.25 thsd. due to redemption of significant amount of investors' certificates (-15.58% in circulation);
«КІNТО-Кlasychnyi» (-UAH 648.70 thsd. (-2.99%)) – repurches of 100 investment certificates from fund’s participants led to capital outflow at a rate of –UAH 42.28 thsd.;
«КІNТО-Еkviti» (+UAH 10.21 thsd.(+0.30%)) – due to presenting for repurchase of 3 investment certificates Fund suffered net outflow amounted to –UAH 2.22 thsd.
The list of major sector’s players in May remained unchanged. Fund "KINTO-Klasychnyi” occupied the first place by market share among open-ended CII (42.38% of aggregate NAV (UAH 21.02 mln.), the second place went to Fund "UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv" (10.31% (UAH 5.11 mln.)), and Fund "KINTO Ekviti" escaped the third place (6.87% (UAH 3.41 mln.)). The fourth place was fixed for Fund “Altus-Deposyt” (6.61% (UAH 3.28 mln.)), and Fund “Sofiivskyi" (6.45% (UAH 3.20 mln)) completed the top five of the sector.
The highest rates of return were demonstrated by following funds:
«Аltus-Stratehichnyi» (+1.18%), «Аltus-Deposyt» (+1.06%) and «Аltus-Zbalansovanyi» (+1.04%).
The worst indicators of changes in value of their securities were demonstrated in May by following funds: «КІNТО-Каznacheiskyi» (-9.88%), «UNIVER.UA/Yaroslav Mudryi: Fond Aktsii»
(-4.52%) and «ТАSК Rеsurs» (-3.78%).
INTERVAL FUNDS
In May the review included 4 interval CII, which net assets, according to UAIB data, equaled to UAH 3.68 mln.Compared with this sector’s indicators as at the end of the previous month, an aggregate NAV of these fundsdecreased by–UAH 118.75 thsd. (-3.14%).
In May, neither fund was not able to attract investors’ money.
Based on month's results, Fund «Parytet» became the growth leader of the sector (+UAH 5.65 thsd.(+0.48%))– increase in NAV occurred due to increasing value of investment portfolio’s components.
The largest decreases of NAV in May were fixed by following Funds:
«ТАSК Ukrainskyi Каpital» (-UAH 117.61 thsd.(-9.17%)); «Univer.UA/Оtaman: FondPerspektyvnykh Aktsii» (-UAH 4.07 thsd.(-0.56%)) and «Оptimum» (-UAH 2.72 thsd.(-0.46%)) – negative change of NAV was the result of deacresed value of investment portfolio’s components.
The range of interval funds’ rates of returnin May varied from +0.48% до -9.17%.
Fund «Parytet» became the leaderby rates of return (+0.48%); the worst indicators of changes in the value of their securities were demonstrated by following Funds: «ТАSК Ukrainskyi Каpital» (-9.17%), «Univer.UA/Оtaman: Fond Perspektyvnykh Aktsii» (-0.56%) and «Оptimum» (-0.46%).
CLOSED-END FUNDS
Net asset value of 4 closed-end CII, which were included in May review, at the end of the month comprised UAH 9.76 mln. According to filed indicators, the aggregate NAV of these funds decreased by -UAH 88.57thsd.(-0.90%).
Based on May results, Fund "AntyBank" became the leader of growth in the sector (+UAH 19.22 thsd.(+0.47%)) - due to positive revaluation of investment portfolio.
The largest decreases of NAV in May were fixed by following Funds:
«ІndeksUkrainskoi Birzhi» (-UAH 71.32 thsd.(-1.99%)), «UNIVER.UA/Skif: Fond Nerukhomosti» (-UAH 26.75 thsd.(-2.39%)) and «ТАSК Universal» (-UAH 9.72 thsd.(-0.89%)) – because of decreasing value of assets which were included in funds' investment portfolios.
Range of rates of return of closed-end Funds in May was from +0.47% до -2.39%.
«АntyBank» became the leaderby rates of return (+0.47%); the worst indicators of changes in the value of their securities were demonstrated in May by following Funds: «UNIVER.UA/Skif: Fond Nerukhomosti» (-2.39%), «Іndeks Ukrainskoi Birzhi» (-1.99%), and «ТАSК Universal» (-0.89%).