Advance Eastern Europe

LONG-TERM INCREASE OF THE INVESTMENT VALUE BY REALIZING CAPITAL APPRECIATION AT A MODERN TO HIGH RISK IN EASTERN EUROPE.

Description

Open-end mutual fund investing in the Eastern European stock markets.

Currently the fund has exposure to 6 countries in the region: Bulgaria, Romania, Serbia, Croatia, Russia and Ukraine. Should the market conditions change in the future, the fund has a mandate to add other CEE markets as well.

The fund aims to increase the value of the invested funds in the long term mainly through capital gains assuming moderate to high risk in Eastern European equities.

Investment Strategy

The investment strategy of the fund is based on a top-down approach where the major decision is the allocation among the different markets. The investment strategy can be defined as moderately active as long as the Asset Manager revisits its expectations about separate markets and individual stocks between 2 and 4 times per year.

In accordance with the investment strategy, under normal conditions the fund is invested mainly (90 % of assets) in large cap equities listed in Bulgaria, Romania, Serbia, Croatia, Russia and Ukraine that have strong long-term growth potential. Around 10 % of the fund’s assets are held in cash and money market instruments for liquidity purposes.

Advance Eastern Europe provides easy access to Emerging Еurope by allowing you to take advantage of the long-term growth potential of the regional economies and stock markets.

Nadia Nedelcheva, CFA
Portfolio manager of Advance Eastern Europe

Prices


NAV per unit* as of 20.09.2019
0,8211
%
change vs previous NAV
-0.05%
Issue price:
<€50 000
0,8334
€50 000 - €250 000
0,8293
€250 000 - €500 000
0,8252
>€500 000
0,8211
Net asset value*
2 734 415,98
Redemption price
0,8211
3
months
6
months
12
months
YTD
3
years
Since launch

Performance

2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Fund
5.33%
25.91%
-61.94%
36.50%
18.44%
-17.02%
3.37%
6.64%
-4.06%
-2.29%
11.31%
-0.73%
-12.35%
Benchmark
21.67%
13.67%
-66.63%
73.42%
21.65%
-22.53%
17.06%
-11.15%
-22.21%
-8.32%
24.40%
2.66%
-11.12%
Fund vs Benchmark
1 month6 months1 yearYTDSince launch
Fund5.22%14.06%16.14%21.20%-1.49%
Benchmark-0.14%4.76%15.14%13.99%-2.89%
MSCI EFM Europe + CIS

The MSCI EFM Europe + CIS (E+C) Index captures large and mid cap representation across 7 Emerging Markets (EM) countries and 7 Frontier Markets (FM) countries.  The index is supported by MSCI Inc. (Morgan Stanley Capital International) and monitors the performance of companies from the Czech Republic, Greece, Hungary, Poland, Russia, Turkey, Estonia, Croatia, Kazakhstan, Lithuania, Romania, Serbia, Slovenia and Ukraine.

Portfolio

Top 5 stocks

Risk profile

LOW RISKHIGH RISK
1234567
LOW RETURNHIGH RETURN
Overview
Type:
Open-end UCITS
Focus:
Eastern Europe / equities
Domicile:
Bulgaria
ISIN
BG9000016063
Bloomberg code
ADVEAEU.BU
Reuters Lipper
65095316
Currency:
EUR
Launch Date:
04.10.2006
Minimum investment:
1 unit
NAV as per 20.09.2019
NAV/Share:
0,8211
< €50 000:
0,8334
€50 000 - €250 000:
0,8293
€250 000 - €500 000:
0,8252
> €500 000:
0,8211
Redemption Price:
0,8211
Total Fund Size:
2 734 415,98
Performace
1 month:
5.22%
6 months:
14.06%
1 year:
16.14%
YTD:
21.20%
3 years:
13.36%
Since launch:
-1.49%
Standard Deviation*:
n/a
Expenses
Subscription Fee:
< €50 000
1.50%
€50 000 - €250 000
1.00%
€250 000 - €500 000
0.50%
> €500 000
no tax
Investors in Karoll Capital’s UCITS Mutual Funds do not owe any capital gains taxes at the source.
Redemption Fee:
0.00%
Management Fee:
1.5% оf the avg annual NAV
The performance data represents historical results that do not guarantee future results. The current performance of the fund may differ from the above numbers. The return on the invested funds and the invested amount may vary with the changes in the financial markets depending on the market environment and you may realize a profit or a loss at the moment of redemption of the fund’s units.
Disclaimer
The value of the units оf the fund and the income arising from them may decrease, the profit is not guaranteed, and investors bear the risk that they may not receive the full amount of the invested funds. Investments in mutual funds are not guaranteed by a state guarantee fund or any other guarantee. The future results of the fund are not linked to its historical performance.

Documents

The value of the units оf the funds and the income arising from them may decrease, the profit is not guaranteed, and investors bear the risk that they may not receive the full amount of the invested funds. Investments in mutual funds are not guaranteed by a state guarantee fund or any other guarantee. The future results of the fund are not linked to its historical performance.The performance data represents historical results that do not guarantee future results. The current performance of the fund may differ from the above numbers. The return on the invested funds and the invested amount may vary with the changes in the financial markets depending on the market environment and you may realize a profit or a loss at the moment of redemption of the fund’s units.All funds are UCITS -IV compliant. The Fund’s NAV is calculated every business day by 5 pm local time. In order to subscribe or redeem Advance funds units, please send us an enquiry. The funds are open for trading every business day with cut-off at 5 PM Bulgarian time (4 PM CET). Subscriptions and redemptions accepted in BGN and EUR.
Investment Outlook
2019
monthlyhighlights

How to Invest

How to invest?

Investors can open an account and place orders for subscription and redemption of units of Advance Invest at the headquarters of Karoll Capital Management and its office network every business day between 10:00 and 17:00. The order should be submitted in person or through a proxy upon client identification. The money for the subscription are wired though a bank transfer to the fund’s account at the respective custody bank.

Redemption of units

The redemption order is fulfilled within 10 days following its submission at the redemption price calculated on the nearest day following the day of submission. Investors in Advance Invest do not owe any capital gains taxes at the source.

Bank details for purchase of shares of the fund

BGN account:
BG07UNCR96601043020505
EUR account:
BG27UNCR96601443020500

UniCredit Bulbank | Beneficiary: Mutual Fund Advance Eastern Europe | BIC: UNCRBGSF

Subscription of units

The subscription order is fulfilled within 7 days from the date of placement at the issue price calculated on the nearest day following its submission.

Publishing of net asset value (NAV)

The net asset value (NAV), which serves as the basis for calculation of the issue (subscription) price and the redemption price of the fund’s units is calculated in accordance with the applicable Law and the Rules for calculation of net asset value of the fund every business day, and is published on the website of the asset management company www.karollcapital.bg, the web site of the Bulgarian Association of Asset Management Companies www.baud.bg , as well as in various media.