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03Jan2005
With 38% return in 2004, ADVANCE INVEST is No1 among all Bulgarian funds
ADVANCE INVEST Mutual Fund, managed by Karoll Capital Management, realized 38% return in 2004. This is the highest return among all Bulgarian funds, and is even higher than the yearly SOFIX index growth (+37.63%.) With a par value and NAV of BGN 1 at the beginning of 2004, at year-end the NAV stood at BGN 1.38.
"As a result of Karoll's portfolio management, ADVANCE INVEST ranks No1 in terms of return for 2004. Our success can also be measured by the triple asset growth, and the increase of fund shareholders by more than 20 times," said Daniel Ganev, Portfolio Manager of the fund.
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.”
