Ukrainian Open-End Funds Saw Growth Last Week

      Between April 3 and April 9, the aggregate net assets of Ukrainian open-end investment funds grew 0.7 percent to reach 544.49 million hryvnias, according to the weekly report of the Ukrainian Investment Business Association.

      Last week, the number of investment certificates sold increased 1.8 percent. At the same time, open-end funds saw a small net outflow of 828,500 hryvnias.

      The average weekly return on the investments was 1.05 percent. Bonum Optimum’s investment certificates showed the highest growth on the week, gaining 2.22 percent. Magistr – Balanced Fund held the second place with a growth of 2.03 percent. Yaroslav Mudry Stock Fund ended up third with a growth of 1.8 percent.

      The report says that last week’s results were not too comforting, though they compensated to some degree for the downturn in certificate value which occurred the week before last. On average, the value of Ukrainian open-end funds’ certificates dropped 2.94 percent between March 9 and April 9.

      According to the report, gold price slid 6.62 percent last week in the wake of global trends, although it remains one of the most profitable assets since the beginning of the year. Investments in open-end investment funds lost 2.48 percent in value since the beginning of the year.