Can't find what you are looking for? Usethe advanced search
06Nov2006
ADVANCE INVEST – the first local fund with assets above BGN 30 mln
At the very beginning of November, the NAV of Advance Invest Mutual Fund exceeded BGN 30 mln, which is an increase of over BGN 10 mln since the start of the year. Thus it becomes the first Bulgarian fund with assets above BGN 30 mln. The asset growth reflects the strong investors' interest toward the fund combined with the high return from capital gains. Karoll's fund betting on the high growth potential of Bulgarian and Romanian stocks, affirms its leadership position among local investment vehicles. The return realized by Advance Invest for 2004 is +38%, for 2005: +32.6%, and the 2006 YTD return is already above +21%.
The fund's investments in Bulgarian stocks account for 62% of assets, the largest exposures being in the real estate, conglomerates, banking and insurance, pharmaceuticals, and chemical sectors. Romanian investments are already in the amount of more than 10% of fund's assets, and are in sectors such as oil refinery and distribution, electrical utilities, pharmaceuticals, machinery, real estate and finance. Management's plans are to raise substantially the Romanian portion of the portfolio (in view of expected hot IPOs and exchange privatization deals). The product will thus obtain a more clear focus, namely "new EU entrants – Bulgaria and Romania". This strategy is already being implemented and for that purpose the weight of bonds is being drastically reduced.
Advance Invest is an open-end mutual fund, managed and distributed by Karoll Capital Management. Investment in the fund is one of the easiest ways to possess a securities portfolio (including stocks, bonds, etc.) without having to follow and analyze the capital markets. The focus of Advance Invest is long term investment in stocks of leading Bulgarian and other Eastern European companies with high growth potential. Anyone can take advantage of this type of investing by purchasing fund shares in the offices of Karoll Capital Management in Sofia and 7 other Bulgarian cities.
____________________
