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14Jan2005
ADVANCE INVEST becomes the largest Bulgarian fund
As a result of the strong investors' interest, ADVANCE INVEST Mutual Fund has just become the largest Bulgarian fund with NAV of BGN 7.7 mln as of Jan 13, 2005.
Thus, the fund run by Karoll Capital Management, for the first time ever manages to oust veteran Golden Lev from its leadership position. TBI Eurobond, Elana Eurofund, Capman Capital, UBB Balanced Fund, and KD Pelican follow in the rankings in terms of assets.
With a 38% return in 2004, ADVANCE INVEST is the leader in this category as well. This is the highest return among all Bulgarian funds, and it is even higher than the yearly SOFIX index growth (+37.63%.).
ADVANCE INVEST is the first Bulgarian open-end mutual fund focused on East European stocks. The key objective is to seek long-term capital appreciation through investment in equity securities. The primary investment focus is stocks listed on the Bulgarian and other East European markets with high growth potential. The fund's investment strategy is based on active portfolio management through the selection of undervalued equities with high upside potential.
The fund’s assets are expected to surge substantially due to four principal advantages: professional management, high growth potential, liquidity, and tax exemption. ADVANCE INVEST is gaining popularity not only in Bulgaria, a country of eight million people that is to join the European Union in 2007, but also with foreign investors who bet on the potential of the “second wave countries.”
