Team
Advance Invest is an open-end mutual fund, investing in stocks listed on the stock exchanges of the Balkan EU members – Bulgaria & Romania.
The fund's objective is to achieve capital appreciation through investments in leading companies representing the major sectors in these two countries.
An open-ended mutual fund investing in the capital markets of Eastern Europe. The fund has 2 separate unit classes - class A and class B (class B holds the fund's investments in Russian assets).
IMPORTANT! As of 31.12.2022, Кaroll Capital Management publishes an indicative NAV of EUR 1,331,426.27 and NAV per unit of EUR 0.6083.
Upon the formulation of class B, the newly issued shares were distributed to the unit-holders on 03.01.2023. with a class B NAV per unit of EUR 0.0312.
Advance Emerging Europe Opportunities is a sub-fund of the Luxembourg umbrella Karoll SICAV, whose investment portfolio is managed by Karoll Capital Management. The fund invests in shares of companies from Central and Eastern Europe, primarily in Poland, Czechia, Hungary, Austria, Slovenia and the Baltics. The fund’s objective is to provide capital appreciation by realizing capital gains in the long run at a moderate to high risk.
Advance Global Trends is an open-end mutual fund using a tactical asset allocation model to invest globally via exchange traded products. It is a multi-asset product providing exposure to equities, bonds, real estate and commodities. The portfolio is structured primarily using exchange-traded funds (ETFs).
The fund aims to maximize the return by investing in the top performing asset classes at any given moment, and at the same time to observe a strict control over the portfolio risk measures.
Advance European Infrastructure is an actively managed, sector-focused open-end mutual fund, created and managed by Karoll Capital Management. The fund aims for long-term capital appreciation through strategic investments in shares of European publicly traded companies that own, manage and derive income from infrastructure assets across Europe. The fund also invests in shares of companies with business in Central and Eastern Europe, based on the long-term expertise of our team in this region. The investment horizon is long-term, while maintaining strict discipline to effectively manage concentration and liquidity risks.
The strategy invests in: Poland, Russia, Turkey, Czech, Hungary, Latvia, Lithuania, Estonia, Romania, Austria, Croatia, Bulgaria, Greece, Serbia.
Investment style: blended (value & growth), stock-picking, bottom-up combined with top-down and sector views, benchmark agnostic.
Objective: to generate alpha at lower risk than market.
The strategy invests in: Poland, Hungary, Czech Republic, Estonia, Latvia, Lithuania.
Investment style: blended (value & growth), stock-picking, bottom-up combined with top-down and sector views, benchmark agnostic.
Objective: to generate alpha at lower risk than market.
The strategy invests in: sectors such as Industrial development, Outsourcing, ICT, Tourism, High-growth exporters benefiting from low labor costs, skilled workforce and lowest taxes in a fast-growing region with strategic location.
Investment style: blended (value & growth), stock-picking, bottom-up combined with top-down and sector views, benchmark agnostic.
Objective: to generate alpha at lower risk than market.
We believe Emerging Europe offers excellent investment opportunities as the regional economies are set to grow faster that the Eurozone and given local stock exchanges’ early stage of development. The attractive valuations and positive market outlook combined with diminishing risk levels are starting to attract international investors to the region.
Our in-depth local knowledge and on-the-ground presence give us an edge in analyzing the economies and markets of Emerging Europe. All investment products are managed by investment specialists with solid capital markets expertise and a passion for Emerging Europe. Thanks to our location and excellent analytical capabilities we access information easily, regularly visiting companies and events.
We apply five layers of selection filters; 1.) market cap & liquidity; 2.) corp governance, transparency, ESG; 3.) sector outlook & company competitiveness; 4.) financial strength; 5.) in-house valuations. Because of market inefficiencies we believe Emerging Europe is abundant with mispriced assets. Our analysts possess native understanding of the region’s economies, companies, and market dynamics and use this in screening the investment universe to identify “hidden gems”.
We believe in taking a long-term view when making investment decisions. We expect Emerging Europe to continue to outperform the Eurozone in the long run due to the convergence processes related to income levels, household living standards, interest rates, etc. The horizon of portfolio investment decisions is usually beyond 3+ years.
Each of our investment products is managed by a separate PM. In making asset allocation decisions, the PM is supported by an eight-member Investment Committee. The team debates and decides on the asset classes, as well as geographic and sector splits. The stock selection is performed by the strategy’s PM with the help of our seasoned analyst team. We have the freedom to deviate from local indices based on our views, giving us flexibility in investment choice and consistently leading to outperformance.