Press-release

(Translation from Russian)

RA «Expert-Rating» confirms the rating of JSC «AMC PFA «UkrSib Asset Management» at the level uaAA+.amc

 

August 30, 2012 the rating committee of RA «Expert-Rating» has decided to confirm the infrastructural rating of JSC «AMC PFA «UkrSib Asset Management» at the level uaAA+.amc (a very high level of reliability). The decision of confirming rating was made according to the results of the Company’s activity in the 1 half of 2012.

Table 1

Key performance indicators of the company

JSC «AMC PFA «UkrSib Asset Management» in the I half of 2012

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

Note: *— excluding the impact of operations with the parent company        

1. As of 01.07.2012 net assets under AMC management have amounted to UAH 667,953 mln that is by 1,28% more than the indicator as of 01.07.2011. Net assets of public funds have increased by 39,31% in the period from 01.07.2011 to 01.07.2012 and have amounted to UAH 81,586 mln as of the reporting date of the I half of 2012. Despite a difficult situation, which has arisen in the Ukrainian stock market, asset management company «UkrSib Asset Management» has managed to attract new resources into its funds that indicate the effective activity of the Company.

2. The Agency reminds that at the end of 2011 the first nongovernmental pension fund has appeared in the AMC management. Net assets of this NPF have amounted to UAH 10,527 mln as of 01.07.2012. Besides, the Company has received a termless license for activity on administering nongovernmental pension funds – License AB № 614841 from 03.04.2012, which provides the right not only to manage the NPF assets, but also to act as administrator.

3. According to the results of the I half of 2012 revenues of AMC «UkrSib Asset Management» have amounted to UAH 2,127 mln that is by 3,4% more than the indicator of the I half of 2011. Besides, despite the increase in administrative expenses by 10,63% in the I half of 2012, net profit of the Company has amounted to UAH 10,052 mln. The profit of the analyzed period exceeds in 3 times the profit of the I half of 2011 (excluding the impact of operations with the parent company). ROE of the Company has amounted to 16,6% according to the results of the I half of 2012.

4. The weighted average of the loss of the AMC public funds has amounted to 5,44% in the I half of 2012 that is much better than the average market indicators. Such funds as CNCIF “Acceleration” and MNIF “UkrSib Stable investments 2” have demonstrated 8,11% and 10,91%, respectively, that indicate a good level of managing the portfolios of these funds.

Table 2

Data on the profitableness of «market» funds under management of JSC «AMC PFA «UkrSib Asset Management», following the results of the I half of 2012

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

Note: ** — Yield since 17.05.2011

Note: *** — Beginning of the fund’s activity 28.12.2011

5. JSC «AMC PFA «UkrSib Asset Management» is part of the international financial group BNP Paribas Group. BNP Paribas has finished the first 6 months with net profit of EUR 4,715 bn. At the beginning of the 3Q BNP Paribas has demonstrated a high level of solvency: Tier I capital under Basel-3 has reached 9%, the same indicator, calculated by standards adopted before Basel-3, has amounted to 10,9%. Consolidated assets of the group have reached EUR 1,97 trillion as of 01.07.2012, the loan portfolio has amounted to EUR 657 bn. BNP Paribas has belonged to the category of the largest financial groups of Eurozone, which managed to avoid recapitalization during the debt crisis.

Therefore, in the first half of 2012 JSC «AMC PFA «UkrSib Asset Management» has managed to increase net assets under management, to expand its presence in the market of nongovernmental pension funds and to demonstrate positive yield on the three funds of the seven monitored ones despite the unfavorable conditions in the stock market.

 

Analytical service of RA «Expert-Rating»

Confirmation of JSC «AMC PFA «UkrSib Asset Management» (english version) - 30.08.2012