Advance Invest Yield at 10.1% in May

The special investment vehicle Advance Invest, managed by Karol Capital Management, achieved a yield of +10.1% last month (adjusted to the net value of the fund’s assets from 2.8146 leva on 27 April to 3.0985 leva on 31 May 2007), the company told

This is the highest yield among Bulgarian mutual funds for the period. For comparison the average yield of local equity funds (high-yield) last month was +4.93%, the SOFIX index was up +4.86%, and the benchmark of Advance Invest – SOFIBET grew only +1.99%.

Last month was one of the strongest in the history of Advance Invest. The fund had higher yield only in November 2004, when the price jumped +12.9%.

From the beginning of the year Advance Invest continues to be one of the most profitable investment schemes. With its yield of +29.08% it is ranked second by this indicator. In the same period the average yield of local mutual funds, investing in equity, is +23.5%, SOFIX was up only +9.10%, while the benchmark SOFIBET gained +8.43%.

Advance Invest which recently marked 3 years since its IPO start, has invested on the stock exchanges of EU’s new member states – Bulgaria and Romania. Through the years Karol’s fund has established itself as the biggest and most popular collective investment scheme in Bulgaria currently managing more than 47.5 mln leva.

Last month alone the fund’s assets grew by more than 5 mln leva or +12.5% - three times the sector as a whole. For the five months since the beginning of the year Advance Invest has registered a growth of almost 14 mln leva, while local funds as a whole have grown with the impressive 180 mln leva.

The portfolio manager of the fund Daniel Ganev commented the excellent results of Advance Invest were due to the sagacious view of Karol’s analytical team in selecting stock.

“In the future the fund will continue to stake on the good profit potential of the Bulgarian and the Romanian market. Its portfolio management will remain flexible enough, in order to take advantage of all transaction we find attractive”, the manager added.

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