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31Mar2005
ADVANCE INVEST already at 13 mln
On the last day of March, the assets of ADVANCE INVEST Mutual Fund exceeded BGN 13 mln. In just one month, the fund added over BGN 2 mln – or almost 20% – thus establishing itself as the largest Bulgarian fund. Meanwhile, the ruturn for March alone is 4.2% (NAV change from BGN 1.66 to 1.73) against the background of the SOFIX index decline of 7.4%. For the same period, the broader index BG40, comprising the 40 most liquid positions, shed 2.7%.
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. Depending on the market situation, a fraction of the fund's assets may be invested in fixed-income instruments – mainly high-yield corporate and mortgage bonds.
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.”
