Monthly Performance Review of Publicly Offered CII in Ukraine. March 2020

In March, Ukrainian stock market indices closed with a significant decrease in indicators. According to the results of the month, the UX index decreased by 11.49%, and the PFTS index decreased by 4.07%.

By the rate of return for a month, the sectors of CII with public issue had the following breakdown of the results: open-ended funds (+1.66% (-2.84% for the mounth)), interval funds took second place (-3.87% (-5.38% for the mounth)), closed-end funds were the third (-8.88% (-11.89% for the mounth)).

OPEN-ENDED FUNDS

According to the UAIB, the value of the net assets (NAV) of 16 open-ended CII as at 31 March 2020 amounted to UAH 85.11M. According to the data provided at the end of March, the total decrease of net assets amounted toUAH 399.49k (-0.47%). Due to significant attraction of investors' funds, the total net inflow in the sector amounted to UAH 1968.47k.

Investment portfolios of virtually all funds have “fallen” due to a negative revaluation of assets, with only six funds ending the month with NAV growth. In March the scope for rates of return of open-ended CII ranged from +6.48% to -11.38%.

According to the results of March, the following funds were the leaders of growth in the sector of open-ended CII:

«OTP Klasychnyi» (+UAH 2975.94k (+5.70%)) – received the largest inflow of net capital in the amount of UAH 3422.83k due to the largest in the sector of attracting investors (+39.49% in circulation);

«UNIVER.UA/Iaroslav Mudryi» (+UAH 1194.08k (+81.49%)) – the additional placement of certificates (+86.90% in circulation) allowed the fund to receive +UAH 1114.55k;

«KINTO-Kaznacheiskyi» (+521,43 тис. грн. (+19,59%)) – as well, the additional placement of certificates (+18.25% in circulation) allowed the fund to receive +UAH 481.53k.
 

The following funds made the biggest payments to investors in March:

«OTP Fond Aktsiy» (-UAH 3891.49k (-39.67%)) – a net capital outflow of -UAH 2962.33k associated with the redemption of certificates from investors (-31.93% in circulation);

«KINTO-Klasychnyi» (-UAH 495.45k (-1.68%)) – the redemption of certificates from investors (-0.31%), led to a net capital outflow of UAH 89.71k;

«КІNTO-Ekviti» (-UAH 184.96k (-3.63%)) – the redemption of 39 certificates from investors, led to a net capital outflow of UAH 47.27k.

KINTO-Klasychnyi» (33.97% of the total NAV (UAH 28.91M)) took the first place among the open-end CII in terms of market share, the second one was the «OTP Klasychnyi» (13.57% of total NAV (UAH 11.55M)), the third got the fund «UNIVER.UA/Myhailo Grushevskyi: Fond Derzhavnyh Paperiv» (9.21% (UAH 7.84M). Fourth place was taken by the fund «OTP Fond Aktsiy» (6.95% (UAH 5.92M), the fund «Sofiivskyi» (5.87% (UAH 4.99M)) closes the top five.

The following funds were among the leaders in terms of rate of return: «VSI» (+6.48%), «Altus – Depozyt» (+3.44%) and «KINTO-Kaznacheiskyi» (+1.13%).

The worst indicators in March were demonstrated by funds:  «OTP Fond Aktsiy» (-11.38%), «Nadbannia» (-10.69%) and «Sofiivskyi» (-6.80%).

INTERVAL FUNDS

In March, the review included 2 interval CII, whose net assets, according to UAIB, amounted to UAH 2.33M. Compared to the indicators of this sector at the end of the previous month, the total NAV decreased by UAH 126.96k (-5.17%).

«PARYTET» made the biggest payments to investors in March (-UAH 46.85k (-3.05%)) –due to a slight decrease in the number of shares in circulation (-1.01%), the fund experienced a net capital outflow of -UAH 15.72k.

Based on the rate of return, funds in the sector had the following breakdown of the results:  «TASK UKRAINSKYI KAPITAL» (-8.70%) and «PARYTET» (-2.05%).

CLOSED-END FUNDS

The net asset value of 2 closed-end CII included in March review, at the end of the month amounted to UAH 10.54M. According to the provided data, the total NAV of these funds decreased by UAH 1918.47k (-15.40%).

The biggest payments to investors in March were made by«Indeks Ukrainskoi Birzhi» (-UAH 1815.14k (-15.70%)) - due to the redemption of a significant number of shares (-3.93% in circulation), the fund suffered net outflow of UAH -433.75k

Based on the rates of return, funds in the sector had the following breakdown of the results: «Indeks Ukrainskoi Birzhi» (-12.26%) and «TASK Universal» (-11.53%).