Advance Invest

TO ACHIEVE CAPITAL APPRECIATION AT A MODERATE TO HIGH RISK IN THE LONG RUN, THROUGH INVESTMENT IN THE BULGARIAN AND ROMANIAN STOCK MARKETS.

Description

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.

Investment Strategy

The fund aims to achieve returns higher than the performance of the major stock exchange indices in the two countries. The fund invests mostly in large companies traded on the Bulgarian and Romanian capital markets but also in stocks with strong growth potential, representing highly promising sectors. The portfolio is structured on the basis of active management following in-depth analysis of the fundamental characteristics of individual positions, as well as liquidity analysis. The fund targets companies with strong management teams, high-quality corporate governance and stable financial results.

Advance Invest aims to discover the best investment opportunities on the stock exchanges in Sofia and Bucharest, following a disciplined long-term strategy.

Tihomir Kaundzhiev
Portfolio Manager Advance Invest

Prices


NAV per unit* as of 18.01.2019
1,2045
%
change vs previous NAV
1.00%
Issue price:
100,000 BGN.
1,2226
100,000 - 500,000 BGN.
1,2165
500,000 - 1,000,000 BGN.
1,2105
> 1,000,000 BGN.
1,2045
Net asset value*
7 589 452,28
Redemption price
1,2045
3
months
6
months
12
months
YTD
3
years
Since launch

Performance

2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Fund
31.43%
32.61%
31.17%
55.37%
-66.57%
2.20%
-11.73%
-17.02%
-5.02%
18.95%
2.40%
-6.26%
10.02%
21.56%
-8.79%
Benchmark
53.36%
51.04%
9.97%
20.71%
-56.45%
51.49%
16.29%
-29.75%
34.08%
-16.81%
2.24%
-22.13%
-1.29%
22.39%
-20.91%
Fund vs Benchmark
1 month6 months1 yearYTDSince launch
Fund-5.02%-5.82%-15.20%-2.44%0.93%
Benchmark2.98%2.12%-19.89%4.28%2.00%
MSCI EFM Europe + CIS ex Russia

The MSCI EFM Europe + CIS ex Russia index captures large and mid cap representation across 5 Emerging Markets (EM) countries and 8 Frontier Markets (FM) countries. The index is supported by MSCI Inc. (Morgan Stanley Capital International) and monitors the performance of companies from the Czech Republic, Greece, Hungary, Poland, Turkey, Estonia, Croatia, Kazakhstan, Lithuania, Romania, Serbia, Slovenia and Ukraine.

Portfolio

Top 5 stocks

Risk profile

LOW RISKHIGH RISK
1234567
LOW RETURNHIGH RETURN
Overview
Type:
Open-end UCITS
Focus:
Bulgaria & Romania / equities
Domicile:
Bulgaria
ISIN
BG9000014134
Currency:
BGN
Launch Date:
10.05.2004
Minimum investment:
1 unit
NAV as per 18.01.2019
NAV/Share:
1,2045
< 100,000 BGN.:
1,2226
100,000 - 500,000 BGN.:
1,2165
500,000 - 1,000,000 BGN.:
1,2105
> 1,000,000 BGN.:
1,2045
Redemption Price:
1,2045
Total Fund Size:
7 589 452,28
Performace
1 month:
-5.02%
6 months:
-5.82%
1 year:
-15.20%
YTD:
-2.44%
3 years:
24.94%
Since launch:
0.93%
Standard Deviation*:
n/a
Expenses
Subscription Fee:
< 100,000 BGN.
1.50%
100,000 - 500,000 BGN.
1.00%
500,000 - 1,000,000 BGN.
0.50%
> 1,000,000 BGN.
no tax
Investors in Karoll Capital’s UCITS Mutual Funds do not owe any capital gains taxes at the source.
Redemption Fee:
0.00%
Management Fee:
2.5% оf the avg annual NAV
The performance data represents historical results that do not guarantee future results. The current performance of the fund may differ from the above numbers. The return on the invested funds and the invested amount may vary with the changes in the financial markets depending on the market environment and you may realize a profit or a loss at the moment of redemption of the fund’s units.
Disclaimer
The value of the units оf the fund and the income arising from them may decrease, the profit is not guaranteed, and investors bear the risk that they may not receive the full amount of the invested funds. Investments in mutual funds are not guaranteed by a state guarantee fund or any other guarantee. The future results of the fund are not linked to its historical performance.

Documents

The value of the units оf the funds and the income arising from them may decrease, the profit is not guaranteed, and investors bear the risk that they may not receive the full amount of the invested funds. Investments in mutual funds are not guaranteed by a state guarantee fund or any other guarantee. The future results of the fund are not linked to its historical performance.The performance data represents historical results that do not guarantee future results. The current performance of the fund may differ from the above numbers. The return on the invested funds and the invested amount may vary with the changes in the financial markets depending on the market environment and you may realize a profit or a loss at the moment of redemption of the fund’s units.All funds are UCITS -IV compliant. The Fund’s NAV is calculated every business day by 5 pm local time. In order to subscribe or redeem Advance funds units, please send us an enquiry. The funds are open for trading every business day with cut-off at 5 PM Bulgarian time (4 PM CET). Subscriptions and redemptions accepted in BGN and EUR.
Investment Outlook
2019
monthlyhighlights

How to Invest

How to invest?

Investors can open an account and place orders for subscription and redemption of units of Advance Invest at the headquarters of Karoll Capital Management and its office network every business day between 10:00 and 17:00. The order should be submitted in person or through a proxy upon client identification. The money for the subscription are wired though a bank transfer to the fund’s account at the respective custody bank.

Redemption of units

The redemption order is fulfilled within 10 days following its submission at the redemption price calculated on the nearest day following the day of submission. Investors in Advance Invest do not owe any capital gains taxes at the source.

Bank details for purchase of shares of the fund

BGN account:
BG30BPBI79401052761402
EUR account:
BG39BPBI79401452761401

Eurobank EFG Bulgaria Plc | Beneficiary: DF Advance Invest | BIC: BPBIBGSF

Subscription of units

The subscription order is fulfilled within 7 days from the date of placement at the issue price calculated on the nearest day following its submission.

Publishing of net asset value (NAV)

The net asset value (NAV), which serves as the basis for calculation of the issue (subscription) price and the redemption price of the fund’s units is calculated in accordance with the applicable Law and the Rules for calculation of net asset value of the fund every business day, and is published on the website of the asset management company www.karollcapital.bg, the web site of the Bulgarian Association of Asset Management Companies www.baud.bg , as well as in various media.