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10May2007
Advance Invest Turns 3
On May 10, 2007 Advance Invest – the first Bulgarian equity mutual fund - celebrates 3 years since the start of its public offering. Back then the fund was launched with an initial NAV/share of BGN 1.05, while the latest NAV is already at BGN 2.7995. The ambition of its founders – Karoll Capital Management – was to offer local investors new capital gains opportunities – alike the open-end investment schemes available in the USA and western Europe.
At the very beginning the fund's focus was on stocks traded on the Bulgarian Stock Exchange. Today, 3 years later Advance Invest allocates its assets to attractive equities listed in the new EU members – Bulgaria & Romania. In 2006 Advance Invest was the first domestic fund to invest abroad.
For the three years of its existence Advance Invest cemented its position as the most preferred and solid investment vehicles on the market. The fund managed by Karoll Capital Management recorded a stable double-digit return in excess of 30% as follows:
Advance Invest Annual Return | |
|---|---|
| Q1 2007 | + 13.26% |
| 2006 | + 31.17% |
| 2005 | + 32.60% |
| 2004 | + 38.00% |
Further information on the fund's strategy, portfolio and statistics click here.
Since its launch the fund has ranked #1 in terms of size among local mutual funds – as of May 2007 its assets exceed BGN 42 mln, its market share being nearly 10%. It is also one of the most popular investment vehicles in terms of number of shareholders. Advance Invest is the first domestic fund to be listed in the Bloomberg system.
"Advance Invest's achievements can be attributed to the active, flexible portfolio management as well the careful stock picking by the strong analyst team at Karoll. The selection of equities with high growth potential has been the basis of our success, and has resulted in the stable return from 2004 to date," comments Daniel Ganev, portfolio manager of the fund.
Management's plans for the development of the fund are related to the continued active strategy on the BSE, strengthening the fund's positions on the Romanian market, and the rapid expansion of the shareholder base.
"Karoll's funds will continue to play an active role in the development and endorsement of the asset management industry in Bulgaria," Ganev concludes.
