Since the beginning of this year Alfa Index Imoti has achieved a 7.01% yield, and yield for the past six months has hit 10%. The issue value of one share of the fund was 1.0828 leva on 19 April 2007, buy-out price was 1.0720. Issuance and buy-out costs represent 0.5% and have been calculated in the price. The value of Alfa Index Imoti’s assets has reached 2.043 mln leva.
“The correction we’ve been witnessing for the past couple of months has made investors focus on shares used as a refuge in a period of crisis. Thus investors rediscovered REITs which didn’t mislead them”, Peter Vasilev, portfolio manager of Alfa Asset Management, commented.
“We expect this growth to continue all through 2007 because part of the projects of the separate companies are due to be finalized which will have positive effect on their financial results”, the expert added.
Alfa Index Imoti focuses on shares of real estate investment trusts (REITs). The fund's investment strategy is predominantly passive – the fund invests in the most liquid and most actively traded REITs. The stock of the separate REITs in its portfolio is allocated proportionately to their share capital.
The fund achieved a 2.14% yield last month ranking third by this indicator among all Bulgarian stock investment mutual funds. The first two positions in the list went to funds, which invest predominantly in Eastern European companies.