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  • 20 years experience in the TDF group
  • 4 funds and NPF "My pension"
  • Yield NPF "My Pension"
    permanently higher inflation since 2011
  • The increase in the number of participants
    NPF "My pension" for 2014 by almost 90%

 

ITT INVETSMENT FUNDS 

There are 5 funds under AMC ITT-Management LLC:

- public funds:

- one investor funds (non-public funds founded for one or a group of investors):

  • UVIF Platinum-Invest
  • UVIF Ukrinvestbud

- non-government pension fund My pension.

 

USEFUL TO KNOW

The institute of mutual investment is a corporate or unit investment fund, which conducts the activity, related to investors’ funds accumulation with the purpose of gaining return on the investment in securities, corporate rights and real estate.

Corporate investment fund (CIF) is an institute of mutual investment (IMI), established as an open-end joint-stock company, which exclusively conducts the activity on the mutual investment.

  • The initial common stock (share capital) of the corporate investment fund shall be established from the funds, public securities, securities of the other issuers, admitted to trade on the stock exchange or in the trade-information system, as well as the real estate objects, necessary for the provisioning of the statutory activity.
  • The size of the initial common stock (share capital) of the corporate investment fund may not be less, than the one, established by the laws for the open-end joint stock companies.
  • The increase in the common stock (share capital) of the corporate investment fund shall be made exclusively at the expense of the funds of the shareholders, paid via purchase of the shares.
  • The shares of the corporate investment fund shall only be common registered (inscribed) shares.
  • Corporate funds may be term or termless.
  • IMI may be either of diversified or non-diversified kind.
  • Depending on the order of its activities, IMI may be of the open-end, interval or of the closed-end. In case of participation in the open-end or interval funds dividends are not payed, besides they only can be diversified. Close-end funds may only be term and dividends are payed. Securities of open-end and interval funds are sold and purchased only by funds themselves, while securities of close-end funds are rotating on the market freely.
  • In the event if non-diversified IMI of the closed-end performs exclusively the private placement of the securities of the own issue. Private entities as well as private persons, if their contribution to the fund is not less than 1500 MS, may be participants of venture fund. Nowadays in Ukraine venture funds make over 77 % of the total amount of funds and are the most attractive for investors.
  • The corporate funds of the open-end type in the USA and many foreign countries are named mutual funds.

The unit investment funds are the assets, belonging to the investors on the basis of the mutual property rights, managed by the asset management company, and accounted independently of the results of its commercial activity.

  • The unit investment fund is established at the initiative of the asset management company, by means of purchase by the investors of the investment certificates, issued by the asset management company.
  • The unit investment fund is not a legal entity.
  • While entering into the agreements with the assets of the unit investment fund, the asset management company acts on its behalf, with the mandatory notices to be sent to the third parties.
  • The participant of the unit investment fund is the investor, who purchased the investment certificate of this fund.
  • The investment certificate shall evidence the share of the participant of the unit investment fund. It provides equal rights to each of its owner.
  • The dividends on the investment certificates of the open-end and the interval unit investment fund, shall not be accrued and shall not be paid.
  • Unit funds may be: of the open-end, interval or closed-end type; of diversified or non-diversified kind; term or termless.

Financing construction is the use of the funds under management by the financial institution (having the permission for the conduction of such a kind of activity) with the aim of the objects’ construction under the terms of the contract.
The requirement for the raising of funds of the population in the sphere of construction only through specialized funds is stipulated by Law of Ukraine #978-IV “On financial-credit mechanisms and property management in the process of house-building operations on real-estate” as of June 19, 2003.
For the investor the extension of such a mechanism means the presence of controlled by the State commission for the regulation of financial services financial middleman, that decreases the risks of the investor and makes the process of investment more transparent.
Depending on the purpose of funds’ establishment they may be:

  • Fund of financing construction (if the purpose is the purchase/obtaining the dwelling).
  • Fund of operations on real estate (if the aim of the certifacates’ owners is to gain profit).

 

Funds, which give the opportunity to the private individuals to unite even insignificant savings and collectively invest them at the equity market, have existed all over the world for many years. The first fund of mutual investment for population was established in August, 1822 by king of Holland William I, and afterwards in 1849 in Switzerland, and in 1952 - in France. The establishment of the first mutual fund in the USA goes back to 1924, and this country is the one, where this way of placing of funds of population became the most widespread. The amount of investment funds in the USA exceeded 8000 long ago. There are still such market players as Vanguard U. S. Growth Fund Investor Shares, founded in 1959, or Dodge & Income Dried (1989).

On the whole there are over 50 000 investment funds opened for international investors all over the world. Basic principles of their activity, regardless the features of legislation of every separate country, are similar throughout the world. All of they accumulate clients’ funds by means of selling the shares or stocks to them, and then placing them at the financial market with the purpose of total assets growth and increase of value of investment of every fund member. Return on such investment is gained after the sale of share with higher value (at a higher price) and sometimes in the form of dividend per share of fund.

For the Ukrainian investor the institute of mutual investment is a new worthy alternative to the usual bank deposits, which protect funds from inflation but are not able to provide considerable profit.
The Ukrainian market of mutual investment is on the initial stage of development and is much smaller than Russian, to say nothing of the European, which has a long-term history of development. However it demonstrates the enormous rates of growth despite the crises.