Interval PIFs register greatest profitability in 2016 Q2

In 2016 Q2, the weighted average profitability of open-end unit investment funds (OPIFs) moved from the red into the black to reach 3.9% p.a., says The Review of AIF and PIF Key Indicators.

Interval PIFs (IPIFs) registered the greatest profitability – 5% p.a., which is 0.1 p.p. higher than inflation over the same period. The weighted average profitability of closed-end unit investment funds (ZPIFs) stood at 0.4% p.a., and the weighted average profitability of PIFs was 0.6% p.a.

In 2016 Q2, for the first time since 2009 the net asset value (NAV) of PIFs showed negative quarterly dynamics (-1.4%) caused by a 1.6% reduction in NAV of ZPIFs. The reduction was provoked by the redemption of investment units, including as a result of termination of funds and also payment of proceeds on investment units. OPIFs showed positive dynamics (an increase by 3.2% against the previous quarter) due to growth in the NAV of equity and bond OPIFs. The NAV of IPIFs fell by 9.4% as a result of the change of type by the largest fund.