tailieunhanh - MUTUAL FUNDS MONTHLY REVIEW 2011

Tham khảo tài liệu 'mutual funds monthly review 2011', tài chính - ngân hàng, quỹ đầu tư phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | MUTUAL FUNDS MONTHLY REVIEW 2011 February finasta asset management 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 New Europe TOP20 Subfund Subfund strategy Year to date return Finasta New Europe TOP20 subfund has a concentrated portfolio of 15 - 25 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 Eastern Europe ex Russia region. Recommended term of investment more than 5 years. Subfund returns Monthly 0 21 YTD 3 04 Since inception 2 87 Past performance of subfund 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. Fund managers comment Beginning of the year 2011 was successful for Finasta New Europe TOP20 sub-fund unit value has increased by 3 and outperformed its benchmark by more than 1 in the first two months. Much changes were done in the fund as fund structure was preparing for the year 2011. Major investments were done in Balkan region - having one the lowest valuations in the region banks AIK banka from Serbia and Central cooperative bank from Bulgaria became one of the top companies in the fund. Energy holding Fondul proprietatea from Romania was also included in the fund because of its attractive valuation and reliable and famous manager Franklin Templeton . Priority for Balkan region could be explained by several reasons firstly economies of these countries have already started growing again but investors haven t come there. Stock markets haven t increased significantly since the bottom in the year 2009 so companies .