Ukrainian asset & fund management industry accelerated growth in Q3 2016

Asset management companies in Ukraine had UAH 253 billion (EUR 8.7 billion) of AuM as at the end of Q3 2016. This represents a 3.4% growth (in UAH) for the quarter and 7.4% YTD in 2016.

Total NAV of open-ended CII (funds) amounted toUAH 58 mln as at end September 2016 thanks to growth by 7.4% in Q3. Quarterly net saleswere positive for the first time after 20 quarters of outflow and amounted to just under UAH 1 mln.

NAV of closed-end funds with public offer has shrinked by 17.0% to UAH 2,699 mln., and closed-end funds with private placement have contracted by 5.4% to UAH 5,546 mln. while venture funds’ total NAV further expanded by 1.8% over the quarter, to UAH 204,041 mln.

Number of AMCs decreased further as well as the number of formed (‘established’) CII – to 300 and 1127 respectively. At the same time, having continued previous trend, more newly registered venture corporate CII have emerged over the course of Q3 2016 at even higher pace (+8.4%).

Foreign investors (institutional and individual) in Ukrainian CII amounted to 563, down from 587 in Q2, of which legal entities kept a 93% share, with same seven invested in open-ended funds.

Meanwhile, almost 73-percent share in the open-ended funds’ NAV belonged to domestic retail investors who accounted for 98.5% of their investors.

Open-ended CII performed at +6.6% in Q3 2016 and they also led by the YTD performance (+12.0%) among the CII categories by fund type. Annual performance put closed-end funds with public offer to top with +21.4%.

Among the publicly offered diversified and specialised CII (mainly open-ended funds), the highest performance in Q3 2016 was again shown by equity funds (+14.4% for the quarter), triggered by the UX index growth by 20.1%.

Bond funds still stayed behind (+3.5%), while keeping top place in terms of the YTD and annual results (10.0% and 16.9% respectively).

See more at the UAIB website (full report in Ukrainian): http://www.uaib.com.ua/analituaib/publ_ici_quart/251901.html

English version of the full report to follow soon.

For enquiries, please contact:

Anastasiia Gavryliuk (Senior analyst & International relations coordinator) – gavrylyuk@uaib.com.ua