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

In September, Ukrainian stock exchanges closed in different directions: the UX index decreased by 0.86%, and the PFTS index ended the month with zero change for the second month in a row.

By the rate of return for a month YTD, the sectors of CII with public issue had the following breakdown of the results: open-ended funds were in the first place (+6.55%(+1.32% for the month)), the second place went to the sector of interval funds (-3.75%(+0.34% for the month), closed-end CII were the third (-13.78% (+1.64% for the month)).

OPEN-ENDED FUNDS

According to the UAIB, the value of the net assets (NAV) of 15 open-ended CII as at 30 September 2020 amounted to UAH 99.95M. According to the data provided at the end of September, the total increase of net assets amounted toUAH 1363.25k (+1.80%).

The vast majority of funds in the sector ended the month with an increase of rates of return and only three of them recorded a decrease. The scope for rates of return of open-ended CII ranged from +7.56% to -2.96%.

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

«UNIVER.UA/Iaroslav Mudryi: Fond Aktsii» (+UAH 566.50k (+10.69%)) – due to the positive revaluation of investment portfolio components and additional placement of investment certificates (+8.73% in circulation) allowed the fund to receive an inflow of net capital in the amount of  UAH 457.18k;

«VSI» (+UAH 133.83k (+7.05%)) – due to attraction of investors' funds (+4.21% in circulation) and increase in the value of the investment portfolio components received UAH 457.18k of net inflow;

«KINTO-Kaznacheiskyi» – the growth of NAV and insignificant attraction of investors (+0.79% in circulation) allowed to get the fund UAH 28.52k of net inflow.

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

«KINTO-Ekviti» (-UAH 181.29k (-3.84%)) – the largest net outflow in the sector, which is associated with redemption of a significant number of certificates from investors (-10.60% in circulation), led to a net outflow in the amount of UAH 498.10k;

«КІNТО-Klasychnyi» (+UAH 729.46k (+2.52%)) – despite the positive revaluation of the components of the investment portfolio, the redemption of 157 investment certificates from the fund participants caused a net outflow in the amount of UAH 98.54k;

«OTP Fond Aktsii» (-UAH 197.92k (-3.52%)) – same, redemption of a small number of certificates (-0.57% in circulation) led to a net outfow of UAH 31.87k.

«KINTO-Klasychnyi» (29.65% of the total NAV (UAH 29.64M)) took the first place among the open-ended CII in terms of market share, the second one was the «OTP Klasychnyi» (22.69% of total NAV (UAH 22.68M)), the third got the fund «UNIVER.UA/Myhailo Hrushevskyi: Fond Derzhavnykh Paperiv» (7.88% (UAH 7.88M). Fourth place was taken by the fund «UNIVER.UA/Iaroslav Mudryi: Fond Aktsii» (5.87% (UAH 5.87M), the fund «OTP Fond Aktsii» (5.44% (UAH 5.43M)) closes the top five.

The following funds were among the leaders in terms of rate of return:

«KINTO-Ekviti» (+7.56%), «KINTO-Klasychnyi» (+2.87%) and «UNIVER.UA/Myhailo Hrushevskyi: Fond Derzhavnykh Paperiv» (+2.27%).

The worst indicators in September were demonstrated by funds:  

«OTP Fond Aktsii» (-2.96%), «Nadbannia» (-0.44%) and «Sofiivskyi» (-0.10%).

INTERVAL FUNDS

In September, the review included 2 interval CII, whose net assets, according to UAIB, amounted to UAH 2.35M. Compared to the indicators of this sector at the end of the previous month, the total NAV increased by UAH 6.41k (+0.27%).

According to the results of the month, the decrease in net capital (despite the positive revaluation of NAV (+UAH 9.23k)) was suffered by «PARYTET» in the amount of UAH 6.80k due to payments to investors.

Based on the rate of return, funds in the sector had the following breakdown of the results: «PARYTET» (+1.04%), «TASK UKRAINSKYI KAPITAL» (-0.35%).

CLOSED-END FUNDS

The net asset value of 2 closed-end CII included in September review, at the end of the month amounted to UAH 9.88M. According to the provided data, due to negative revaluation of investment portfolios the total NAV of these funds decreased by UAH 120.48k (-1.20%).

According to the results of the month, only the fund "TASK Universal" (+UAH 48.61k (+ 6.72%)) due to the attraction of investors (+1.54% of shares in circulation) received an increase in net capital amounted of UAH 11.07k.

Based on the rates of return, funds in the sector had the following breakdown of the results: «TASK Universal» (+5.10%) and «Indeks Ukrainskoi Birzhi» (-1.82%).