Press-release: RA «Expert-Rating» confirms the rating of JSC AMC «KINTO» at the level uaAA.amc

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Press-release: RA «Expert-Rating» confirms the rating of JSC AMC «KINTO» at the level uaAA.amc

27/11/2012

November 27, 2012 at the meeting of the rating committee of RA «Expert-Rating» it was decided to confirm the infrastructural rating of JSC AMC «KINTO» at the level uaAA.amc according to the national scale. Confirming the rating of the Company at a high level, the Agency was based on the analysis results of the activity of AMC «KINTO» according to the 9 months of 2012.

Table 1

Key performance indicators of JSC «KINTO»

according to the 9 months of 2012, th. UAH, %, p.p.

Indicators	9 months of 2012 (01.10.2012)	9 months of 2011 (01.10.2011)	Change, th. UAH, p.p.	Growth rate, %
Total net assets under AMC management, th. UAH	255 470	416 787	-161 317	-38,70%
Change of net assets under AMC management for 12 months, th. UAH	-134 323	-48 635	-85 688	176,18%
Net assets of public funds, th. UAH	197 935	358 619	-160 684	-44,81%
Proportion of public funds in net assets under AMC management	77,48%	86,04%	-8,56 p.p.	-
Net value of NPF assets under AMC management, th. UAH	21 148	21 619	-471	-2,18%
Proportion of pension funds in the net assets under AMC management	8,28%	5,19%	3,09 p.p.	-
Number of funds under management including NPF	19	21	-2	--
Shareholders equity, th. UAH	75362	80288	-4926	-6,14%
Shareholders equity/net assets under AMC management ratio	29,50%	19,26%	10,24 p.p.	-
Authorized capital, th. UAH	66660	66660	0	-
Revenues, th. UAH	5008	23054	-18046	-78,28%
Net profit (loss), th. UAH	-877	-3154	2277	-72,19%
ROE, %	-1,16%	-3,93%	2,77 p.p.	-

Source: data of the Company, calculations by RA «Expert-Rating»

1. Unfavorable conditions, which have occurred in the domestic stock market, have affected the results of the Company’s activity. In the period from 01.10.2011 to 01.10.2012 net assets under AMC management have decreased by 38,7% (UAH 161,3 mln). Key component of this decrease has resulted from the reduction of net assets of public funds by 44,8% (UAH 160,7 mln), which, in its turn, has resulted from a significant decrease in stock indices.

2. The decrease rate of net asset value of NPFs has amounted to 2,18% in the period from 01.10.2011 to 01.10.2012. The proportion of pension funds in assets under the Company’s management has grown by 3,09 p.p. and has amounted to 8,28%. At the moment AMC «KINTO» is one of the few Ukrainian companies, in assets of which the NPFs occupy a significant proportion that can stabilize the dynamics of asset value under the Company’s management in future.

3. In the 9 months of 2012 the revenues of the Company have amounted to UAH 5 mln that is by 78% less than the indicator of the 9 months of 2011. The positive moment is that the Company has managed to decrease its loss by 72% and to improve the indicator ROE by 2,8 p.p. If these rates and favorable external market conditions are maintained, «KINTO» will be able to conduct the profitable activity in the nearest future.

Table 2

Data on the profitability of JSC “KINTO” public funds according to the results of the 9 months of 2012, UAH, %

Fund	01.01.2012 – 01.10.2012	01.01.2011 – 01.10.2011	Net asset value as of 01.10.2012, UAH
‘Classical’ open-end diversified mutual fund	-2,23%	-22,03%	25 525 737,73
‘KINTO-Equity’open-end diversified mutual fund	-13,40%	-39,45%	4 572 484,65
‘Narodny’ interval diversified mutual fund	-10,55%	-19,29%	10 383 966,96
‘Dostatok’ interval diversified mutual fund	1,09%	-7,58%	15 297 777,47
‘Synergy-7’ closed-end non-diversified corporative investment fund	-33,76%	-38,32%	4 790 597,14
‘Synergy-5’ closed-end non-diversified corporative investment fund	-31,65%	-17,02%	28 819 089,09
‘Synergy-4’ closed-end non-diversified corporative investment fund	-31,38%	-31,99%	43 809 717,16
‘KINTO-Spring’ closed-end non-diversified mutual fund	-19,50%	-38,47%	674 357,99
‘KINTO-Summer’ closed-end non-diversified mutual fund	9,45%	-50,37%	748 352,17
‘KINTO-Autumn’ closed-end non-diversified mutual fund	-0,82%	-42,68%	717 883,39
‘KINTO-Winter’ closed-end non-diversified mutual fund	-1,43%	1,32%	693 142,25
‘UX index’ closed-end non-diversified mutual fund	-31,56%	-	2 525 625,09
‘Synergy Real Estate’ closed-end non-diversified corporative investment fund	-6,04%	-4,64%	22 247 992,45
‘Synergy Club’ closed-end non-diversified corporative investment fund	-40,87%	-23,03%	15 835 939,46
‘KINTO-Kaznacheskiy’open-end diversified mutual fund	-	-	144 809,03
‘Social standard’ open-end pension fund	-2,98%	-15,44%	21 119 368,62
‘Pension for all’ open-end pension fund	-5,92%	-	28 290,79
Total:	-13,85%	-24,93%	197 935 131,44

Source: data of the Company, calculations by RA «Expert-Rating»

4. In the period from 01.01.2012 to 01.10.2012 the average loss ratio of the Company’s public funds has amounted to 13,85% that is by 11 p.p. better than the same indicator of the 9 months of 2011. Stock indices UX and PFTS have demonstrated the fall by 31,75% and 32,41%, respectively, in the 9 months of 2012. Almost all the public funds of the Company have worked more effectively than the market that is confirmed by the work efficiency of managers of JSC «KINTO».

Analytical service of RA «Expert-Rating»

Confirmation of JSC AMC «KINTO» (english version) - 27.11.2012