Content. MUTUAL FUNDS MONTHLY REVIEW 2013 June. New Europe TOP20 Subfund 1. Russia TOP20 Subfund 2. Global Flexible Subfund 3
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1 Content New Europe TOP20 Subfund 1 Russia TOP20 Subfund 2 Global Flexible Subfund 3 Emerging Europe Bond Subfund 4 World Equity Subfund of Funds 5 Baltic Fund 6
2 New Europe TOP20 Subfund Finasta New Europe TOP20 subfund has a concentrated portfolio of region s best investment ideas (close to minimum allowed by UCITs). Every pick comes from a thorough fundamental bottomup analysis. Concentrated portfolio means maximum focus on each investment idea, high leverage on best picks. Higher concentration comes with the risk of higher deviation in subfund s net asset values. Aim of the subfund - to achieve maximum equity return while investing in Eastern Europe ex Russia region. Recommended term of investment - more than 5 years. 27,0 26,0 25,0 24,0 23,0 22,0 21,0 20, Monthly -6,63% YTD -4,74% Since inception -15,91% Fondul Proprietatea Bank Pekao SA Raiffeisen Bank International AG Powszechna Kasa Oszczednosci Bank Polski S.A. KGHM Polska Miedz SA 7,8% 7,0% 6,7% 5,7% 38,862 mln. LTL 11,255 mln. 24,35 30 Management fee 1,5 % Success fee 15 % Investments by industries Investments by countries Commercial Banks 2 Poland 28,1% Oil, Gas & Consumable Pharmaceuticals Diversified Diversified Financial Metals & Mining Insurance Specialty Retail Electric Utilities Food Products Cash and money market 11,1% 9,9% 8,3% 7,8% 5,7% 4,8% 4,7% 4,4% 4,2% 5,7% Austria Romania Slovenia Hungary Estonia Czech Republic Serbia Ukraine 5,3% 4,7% 4,4% 4,2% 4,2% 9,6% 12,0% 16,0%
3 Russia TOP20 subfund Finasta Russia TOP20 subfund has a concentrated portfolio of region s best investment ideas (close to minimum allowed by UCITs). Every pick comes from a thorough fundamental bottom-up analysis. Concentrated portfolio means maximum focus on each investment idea, high leverage on best picks. Higher concentration comes with the risk of higher deviation in subfund s net asset values. Aim of the subfund - to achieve maximum equity return while investing in Russia and CIS region. Recommended term of investment - more than 5 years Monthly -4,55% YTD -9,61% Since inception -20,99% Investments by industries 11,161 mln. LTL 3,232 mln. 22,88 30 Management fee 1,5 % Success fee 15 % Oil, Gas & Consumable Fuels 31,8% Sberbank 8,1% Commercial Banks 1 Pharmaceuticals 7,5% Protek 7,1% Trading Companies & Distributors Specialty Retail 7,1% 6,0% M Video 6,0% Metals & Mining Real Estate Management & Development Cash and money market 5,5% 3,2% AFI Development PLC - GDR Avangardco Investments Public Ltd. - GDR 4,9%
4 Global Flexible Subfund Finasta Global Flexible Subfund is considered as actively managed subfund. Subfund investments are diversified and allocated among different regions and assets classes: equity, bonds and other fixed income securities, hedge funds, commodities and currencies. Aim of the subfund - to seek maximum return with risk lower than equity investments. Recommended term of investment years , , , , Monthly -3,71% YTD -0,71% Since inception -9,79% PowerShares FTSE RAFI US 1000 Fund 10,1% Romania Government Bonds 4.5% MSCI World ETF (ComStage) 6,9% Amundi ETF MSCI World 6,9% Credit Suisse Solutions Lux - Dow Jones Credit Suisse AllHedge 6,8% 2,433 mln. LTL 0,705 mln. 26,13 30 Management fee 2 % Success fee 15 % Investments by asset class Investments by regions Equity Cash and money market 34,1% 39,0% Alternative investments Global developed markets 18,6% 18,6% Hedge funds and other 14,0% CEE 13,6% Bonds North America 10,1% Commodities 5,5% Europe 5,0% *High cash level is due to the reshuffle of the investment portfolio; it will drop when in process settlements are completed.
5 Emerging Europe Bond Subfund Finasta Emerging Europe Bond Subfund invests to the strong credit profile emerging Europe governments and companies debt securities. Subfund Managers combine riskier (corporate) and safer (government) bonds in order to achieve higher total return. Aim of the subfund - to secure the balanced capital growth of the subfund. Recommended term of investment years. 34, , , , , Monthly -0,86% YTD 0,95% Since inception 16,63% 36,863 mln. LTL 10,676 mln. 33,78 30 Management fee 1 % Investments by countries* VTB Bank 5,01% 2015/09/29 7,1% Russia Slovenia 14,3% 21,1% Zhaikmunai 10,5% 2015/10/19 Hungary 13,7% MOL 3,875% 2015/10/05 Croatia Romania 9,1% 8,3% OTP Bank 5,27% 2016/09/19 6,2% Lithuania Kazakhstan 7,0% Lithuania 5,2% 2018/03/28 Cash and money market 16,2% *High cash level is due to the reshuffle of the investment portfolio; it will drop when in process settlements are completed.
6 World Equity Subfund of Funds Finasta World Equity Subfund of Funds invest to other funds that invest in global equities. To ensure greater subfund security and diversification, subfund investment strategy is not limited by investment regions or sectors. Aim of the Subfund - seeks higher than average global equity investment return. Recommended term of investment years. 28,5 27,5 26,5 25,5 24,5 23, Monthly -4,61% YTD -0,64% Since inception -9,57% 1,386 mln. LTL 0,401 mln. 26,19 30 Management fee 1 % Investments by regions* PowerShares FTSE RAFI US 1000 Fund 9,6% Global developed markets 42,8% ishares MSCI World Minimum Volatility 9,5% North America 18,7% Amundi ETF MSCI World MSCI World ETF (DB X-Trackers) 9,3% 9,4% Europe Global emerging markets 5,0% 9,2% CEE 1,2% The Lyxor ETF DAX 9,2% Cash and money market 23,1% *High cash level is due to the reshuffle of the investment portfolio; it will drop when in process settlements are completed.
7 Baltic Fund Fund strategy Baltic Fund is investing into shares of companies listed on Baltic Stock Exchange or enterprises actively operating in the Baltic states. The fund is striving for maximum return by assuming high risk level. The fund focuses on long-term investments by identifying attractive economy sectors and picking particular companies. Aim of the fund - to achieve maximum equity return while investing in Baltics region. Recommended term of investment - more than 5 years. Fund return in last 12 month 26 25, , , , Fund returns Monthly 1,24% YTD 10,70% Since inception -10,90% Past performance of fund does not guarantee the future results. Your investment value may rise or fall depending on market conditions. You may earn less than you had invested. Silvano Fashion Group AB Šiaulių bankas City Service 7,6% 8,2% Olainfarm 7,2% Rokiškio sūris AB 4,1% Fund data Date of fund inception Currency of fund 7,694 mln. LTL 2,228 mln. Fund unit value 25,80 30 Management fee 2 % Investments by industries* Investments by countries* Specialty Retail Food Products 10,9% 16,3% Lithuania 35,2% Pharmaceuticals 10,7% Commercial Banks Multi - Utilities 7,6% Estonia 28,8% Construction & Electric Utilities Oil, Gas & Consumable 4,1% 4,0% Latvia 15,6% Marine Food & Staples Retailing 3,6% 3,5% Cash and money market 20,4% Cash and money market 20,4% *High cash level is due to inflows at the end of the month; it will drop when in process settlements are completed.
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