Monthly Performance Review of Publicly Offered CII in Ukraine. February 2018
In February, Ukrainian stock market indices continued to grow steadily. According to the results of the month, the UX index grew by +5.83%, PFTS index added +3.48%.
Rates of return of investment funds with public placement based on the results of the month were distributed as follows: sector of closed-end CII was in the first place (+3.80%), open-ended funds were in the second place (+1.74%), sector of interval CII was in the third place (+1.53%).
OPEN- ENDED FUNDS
According to the UAIB data, the value of net assets (NAV) of 17 open-ended CII as at February 28, 2018 amounted to UAH 82.51 mln. According to indicators as at the end of February, the total increase in the value of net assets amounted to +UAH 3,150.07 thsd. (+4.09%). But due to the significant attraction of investors' funds, the total net inflow of assets in the sector amounted to +UAH 1,513.27 thsd.
Open-ended funds completed the month mainly with increased returns, only seven funds fell. The range of open-ended CIIs’ rates of return varied from +18.20% to -3.38%.
According to the results of February, the leaders of the sector's growth were:
“UNIVER.UA/Mykhailo Hrushevskyi: Fond Derzhavnykh Paperiv” (+UAH 2,133.97 thsd.
(+49.04%)) - due to additional placement of investment certificates (+47.41% in circulation) received a net inflow of +UAH 2,074.49 thsd;
“OTP Fond Aktsii” (+UAH 1,074.88 thsd. (+10.39%)) - also due to attraction of additional funds of investors (+10.50% of IC in circulation) received UAH 1,055.77 thsd. of net inflow;
"OTP Klasychnyi" (+UAH 735.08 thsd. (+20.04%)) - significant attraction of investors' funds
(+18.98% of IC in circulation) allowed the fund to get “net” UAH 697.22 thsd.
The largest payments to investors in February were made by the following funds:
“UNIVER.UA/Taras Shevchenko: Fond Zaoshchadzhen” (-UAH 2,065.92 thsd. (-66,34%)) - the largest net outflow in the amount of –UAH 2,086.60 thsd. associated with the redemption of significant number of certificates from investors (-66.93% in circulation);
“KINTO-Kaznacheiskyi” (+UAH 306.21 thsd. (+14.12%)) - despite positive reassessment of the portfolio’s components, redemption of 372 units of investment certificates from fund's participants resulted in an outflow of capital in the amount of –UAH 88.32 thsd. ;
"UNIVER.UA/Volodymyr Velykyi: Fond Zbalansovanyi" (-UAH 79.34 thsd. (-5.48%)) - due to presentation of 30 investment certificates, the fund experienced a net outflow of –UAH 72.48 thsd.
The main players of the sector in February were distributed as follows: the first place among the open-ended CII in terms of market share was taken by the fund “KINTO-Klasychnyi” (34.24% of the total NAV (UAH 27.25 mln.)), “OTP Fond Aktsii” was the second one (13.84% (UAH 11.42 mln.)), fund “Sofiivskyi” took the third place -(8.15% (UAH 6.72 mln.)). The fourth place was taken by the fund “UNIVER.UA/Mykhaylo Hrushevskyi: Fond Derzhavnykh Paperiv” (7.86% (UAH 6.49 mln.)), Fund “KINTO-Ekviti” was placed on the fifth step (6.36% (UAH 5.25 mln.)).
The leaders in terms of rates of return were the following funds: "KINTO-Kaznacheiskyi”
(+18.20%), “KINTO-Ekviti” (+5.67%) and “KINTO-Klasychnyi” (+3.47%).
The worst indicators of changes in the value of their securities in February were demonstrated by the following funds: “VSI” (-3.38%), “UNIVER.UA/Yaroslav Mudryi: Fond Aktsii” (-2.24%) and “Sofiiivskyi” (-0.86 %)
INTERVAL FUNDS
In February the review included 5 interval CII, whose net assets, according to UAIB data, amounted to UAH20.97mln. In comparison with indicators of this sector as at the end of the previous month, the total NAV increased by +UAH 71.59thsd. (+2.13%).
In February, no interval fund was able to raise funds from investors, an increase in NAV was due to positive revaluation of investment portfolios’ components.
According to the results of the month, the funds’ rates of return in the sector were as follows: “TASK Ukrainskyi Kapital” (+4.05%), “Parytet” (+1.15%) and “Optimum” (-0.60%).
CLOSED-ENDFUNDS
The net asset value of two closed-end CII included in February survey, at the end of the month amounted to UAH 12.25 mln. According to the provided indicators, the total NAV of these funds increased by +UAH 942.03 thsd. (+8.33%).
In February fund "Indeks Ukrainskoi Birzhi" attracted investors' funds in the sector (+UAH 916.45 thsd. (+8.91%)) - due to additional placement of equities (+3.63% in circulation) it received a net inflow of +UAH 372.84 thsd.
The changes of yield in the sector in February were as follows: "Indeks Ukrainskoi Birzhi"
(+5.09%) and "TASK Universal" (+2.51%).