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Advance Eastern Europe

LONG-TERM INCREASE OF THE INVESTMENT VALUE BY REALIZING CAPITAL APPRECIATION AT A MODERATE TO HIGH RISK IN EASTERN EUROPE.

Description

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.

Investment Strategy

The fund implements an active investment policy by investing mainly in shares of large cap companies included in the main stock indices of the regulated markets in Eastern Europe. The fund's strategy is mainly based on a top-down approach where the main decision is regarding the allocation of assets among the different markets. For class A, the main markets for the fund’s scope at the moment are Greece, Turkey, Romania and Bulgaria.

Advance Eastern Europe provides easy access to Emerging Еurope by allowing you to take advantage of the long-term growth potential of the regional economies and stock markets.

Konstantin Prodanov and Georgi Raykov
Portfolio managers of Advance Eastern Europe

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Important information

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.
As of 30.11.2022, Кaroll Capital Management publishes an indicative NAV of EUR 1 244 546.04 and NAV per unit of EUR 0.5686.
As of 31.10.2022, Кaroll Capital Management publishes an indicative NAV of EUR 1 143 901.85 and NAV per unit of EUR 0.5227.
As of 30.09.2022, Кaroll Capital Management publishes an indicative NAV of EUR 1 038 997.17 and NAV per unit of EUR  0.4747.
As of 31.08.2022, Кaroll Capital Management publishes an indicative NAV of EUR 2 122 355.09 and NAV per unit of EUR  0.9697.
As of 31.07.2022, Кaroll Capital Management publishes an indicative NAV of EUR 2 006 247.42 and NAV per unit of EUR 0.9167.
As of 30.06.2022, Кaroll Capital Management publishes an indicative NAV of EUR 2 163 135.87 and NAV per unit of EUR 0,9884.
As of 31.05.2022, Кaroll Capital Management publishes an indicative NAV of EUR 2 073 071.10 and NAV per unit of EUR 0,9472.
As of 30.04.2022, Кaroll Capital Management publishes an indicative NAV of EUR 2 003 651.12 and NAV per unit of EUR 0,9155.
As of 31.03.2022, Кaroll Capital Management publishes an indicative NAV of EUR 1 848 350.52 and NAV per unit of EUR 0,8445.

Prices class A


NAV per unit* as of 18.04.2024
0,7750
%
change vs previous NAV
0.49%
Issue price:
<= €50 000
0,7866
€50 000.01 - €250 000
0,7828
€250 000.01 - €500 000
0,7789
>€500 000.01
0,7750
Net asset value*
1 662 146,69
Redemption price
0,7750

*Starting 04.01.2023 the price chart reflects the value of class A

3
months
6
months
12
months
YTD
3
years
Since launch

* The price for the previous working day is published here no earlier than 2pm and no later than 6pm local time in Bulgaria

Performance

2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Fund
5.33%
25.91%
-61.94%
36.50%
18.44%
-17.02%
4.07%
6.64%
-4.06%
-2.29%
11.87%
-0.73%
-12.25%
29.88%
-8.31%
30.09%
-28.77%
20.64%

Benchmark
21.67%
13.67%
-66.63%
73.42%
21.65%
-22.53%
17.06%
-11.15%
-22.21%
-8.32%
24.40%
2.66%
-11.12%
27.90%
-22.29%
18.34%
N/A
N/A
Fund vs Benchmark
1 month6 months1 yearYTDSince launch
Fund-0.73%11.61%25.32%8.04%-1.42%
Benchmark-29.66%-39.35%-28.71%N/A-5.24%

After 04.01.2023 the results are based on the value of class A

MSCI EFM Europe + CIS

The MSCI EFM Europe + CIS (E+C) Index captures large and mid cap representation across 7 Emerging Markets (EM) countries and 7 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, Russia, Turkey, Estonia, Croatia, Kazakhstan, Lithuania, Romania, Serbia, Slovenia and Ukraine.

Portfolio class A

Top 5 stocks

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Risk profile class A

LOW RISKHIGH RISK
1234567
LOW RETURNHIGH RETURN
Overview
Type:
Open-end UCITS
Focus:
Eastern Europe / equities
Domicile:
Bulgaria
ISIN (class A)
BG9000016063
Bloomberg code
ADVEAEU.BU
Reuters Lipper
65095316
Currency:
EUR
Launch Date:
04.10.2006
Minimum investment:
1 unit
NAV class A as per *18.04.2024*
NAV/Share:
0,7750
<= €50 000:
0,7866
€50 000.01 - €250 000:
0,7828
€250 000.01 - €500 000:
0,7789
> €500 000.01:
0,7750
Redemption Price:
0,7750
Total Fund Size:
1 662 146,69
Performace
**After 04.01.2023 the results are based on the value of class A*
1 month:
-0.73%
6 months:
11.61%
1 year:
25.32%
YTD:
8.04%
3 years:
-13.32%
Since launch:
-1.42%
Standard Deviation*:
0.49%
Expenses class A
Subscription Fee:
<= € 50 000
1.50%
€50 000.01 - €250 000
1.00%
€250 000.01 - €500 000
0.50%
>€ 500 000.01
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:
1.5% 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. This is a marketing material. Before taking a definitive investment decision, please review the prospectus and the key investor information document of the relevant fund, in which you intend to invest.

Documents

Investor Information
Sustainability statementKey Information Document (Class A)
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.

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:
BG07UNCR96601043020505
EUR account:
BG27UNCR96601443020500

UniCredit Bulbank | Beneficiary: Mutual Fund Advance Eastern Europe | BIC: UNCRBGSF

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.

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