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Investment Strategy

INVESTMENT STRATEGY of the Open-End Diversified Unit Investment Fund KINTO-CLASSICAL

Fund's objective is receiving stable returns above the level of inflation and exceeding the income obtained from bank deposits with a considerably lower risk of the loss of the principal investment amount because of the diversification of the fund's assets.

According to the Investment Declaration, the Fund adheres to the balanced policy of receiving the maximum possible returns under moderate level of risks through the long-term investments into a well-diversified portfolio of government and municipal securities, Ukrainian corporate bonds, equity and money-market instruments*.

According to fund's investment strategy, assets of "KINTO-Classical" will be invested in various types of securities according to the following proportions:

  • Up to 50% - into shares of Ukrainian issuers (up to 40% - until 01.07.09);
  • Up to 30% - into deposits and bank bonds; besides, money market funds allocated on separate deposit accounts should amount to not less than 10% of total fund's assets;
  • Up to 20% - into Ukrainian corporate bonds;
  • Up to 25% - into government securities guaranteed by the Cabinet of Ministers of Ukraine;
  • Up to 20% - into shares of foreign issuers that are traded on foreign organized markets*;
  • Up to 10% - into Ukrainian municipal securities.

In order to lower risks and reach the high level of portfolio diversification, not more than 5% of the Fund's net asset value should be invested into securities of one issuer.

Free cash, including funds in foreign currency, should amount to not more than 30% of the portfolio. This condition should be satisfied only when the market forecast is negative.

Open joint stock company "KINTO" is the asset management company for the Fund. According to the Fund's objective, the asset management company follows the strategy of the active investment management on the basis of economic, financial and market analysis and investment estimates.

Keeping in mind the optimistic scenario for the Ukrainian stock market long-term development, investment priorities are given to the potentially most profitable instruments, despite not liquid at the present time.

While choosing shares as investment targets for the Fund, the asset management company will, most likely, pay the highest attention to largest Ukrainian companies** from the energy, chemical, oil, machine building and food sectors with the above-the-market-average growth potential.

Investing into Ukrainian debt securities (corporate, government and municipal bonds)** will be done on the basis of analyzing yield to maturity scenarios, information on bonds issue liquidity, financial reports for the given issue and corresponding ratings.

While performing the assets allocation, "KINTO" will stake on still unknown players in equity segments and bonds with the duration higher than the market average in corresponding security classes.

The asset management company will adequately react on the constantly changing situation in the stock market and make the maximum use of arising investment possibilities due to the Ukrainian stock market imperfection as well as put the arbitrage possibilities into practice. The daily monitoring of the portfolio and active reallocation of Fund's assets from securities with the reduced price growth potential into instruments offering better perspectives will also be performed.

The offered investment strategy is reasonably conservative and allows both receiving stable current returns and benefiting from advantages of investing into prevailingly undervalued Ukrainian companies. It enables the investor to obtain the optimal risk-return balance and, simultaneously, lessen the risk of the Fund's investment certificate's value decline. As a result of the balanced investment strategy, the Fund's investment certificate value dynamics is protected from sharp ups and downs and does not depend to the high extent upon the stock market movements. Therefore, Fund investors' assets will appreciate even in the time if the negative trend in the market prevails.

Fund's expected return is lower than that received by the "aggressive" growth equity-oriented funds. Thus, "Classical" is the best solution for investors willing to take moderate risks and, due to the optimal risk-return balance, is the most advantageous investment instrument for most investors***.

The Fund's high liquidity is ensured by the obligation to sell and redeem investment certificates without any barriers based on the net asset value (plus 1-2% agent's fee).

The Fund's lifetime is unlimited. Because investing is a dynamic process, the Fund's investment strategy could be revised in the future. But changes and additions to the investment strategy will come into force only if approved by the Fund's Supervisory Board elected according to the procedure specified at the Fund's Regulations.


* The Fund will also invest into foreign bonds and equity as soon as the procedure on acquiring foreign securities will be provided by the Ukrainian legislature;

** And foreign securities in the future;

*** The asset management company highlights that investors solely carry the risk of the investment certificate value decline. Any statement about the Fund's investment certificate value increase made by the Fund Manager or other people should be treated as the suggestion only and does not imply the responsibility of the Fund Manager. Value of the Fund's investment certificate could grow or fall. The previous positive investment certificate value dynamics does not mean that the growth will continue in the future.

 
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Kinto, Investment & Securities in Ukraine
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25-B Sagaydachnogo str, 3rd floor,
Kyiv, Ukraine 04070
Tel.: +380 (44) 462-5377, 462-5140

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