Professional Documents
Culture Documents
Mutual Funds
Moscow | 2010
UFG Asset Management - Transparent structure
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Deutsche UFG Capital Management
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Deutsche UFG Capital Management
– Some key events throughout our history
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Deutsche UFG Capital Management
– Key management
z Florian Fenner, Managing Partner and CIO, has the overall management responsibility with
particular emphasis on investment management part
z In addition to Mr. Fenner UFG Asset Management Group employs two more investment managers:
Vadim Ogneshchikov on the equity front and Maxim Tishin on fixed income front
z Head of Retail Sales Mrs. Galina Romanyuk overlooks all retail activity including sales, development
and day to day operations
z Domestic Sales Department is headed by Mr. Yury Anpilogov
z Compliance/Back-office department is headed by Mr. Boris Alexeev and also includes dedicated
mutual fund account and 5 more back officers/accountants
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Our partners
z Main counterparties: Aton, Troika Dialog, Uralsib, Goldman Sachs, Brunswik UBS, Deutsche
Bank, Renaissance, ING
z Our agents: Sberbank, Citibank, Barclays, BSGV, KIT Finance, Credit Suisse
z Custody: Rosbank, VTB, ODK, Irkol, SPETSDEP
z Registrar: Computershare
z Auditor: Marrillion
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Liquid products
Liquid products. Mutual funds
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Open-ended equity fund – Pyotr Stolypin
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Open-ended equity fund – Pyotr Stolypin
Strategy Highlights:
“Bottom-up” value-oriented approach focuses on the market price of a share relative to the portfolio
managers’ evaluation of the company in long-term earnings, asset value and cash flow
potential. The manager constructs the Fund´s portfolio on a stock-by-stock basis. Every purchase
is evaluated by weighting the potential gains against associated risks.
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Open-ended equity fund – Pyotr Stolypin
160%
120%
100%
80%
`
60%
40%
20%
0%
-20%
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10
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Open-ended bond fund – Russian Bonds
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Open-ended bond fund – Russian Bonds
gas
3,96%
List of TOP 5 positions
government
finance
19,09%
5,35% as of August 31, 2010:
TD Kopeyka BO 01 4.46%
utilities
metals&mining Novaya perevozochnaya
13,81%
2,89% 01 4.45%
transportation
8,85% oil
Russian Railways 10 4.40%
telecom
12,05%
3,89% Alrosa 4.37%
Belon finance 3.22%
Strategy Highlights:
The criteria for selection of investments will include such factors as attractiveness of the yield, the
prospects for compression of the spread over the yield for debt instruments issued by the Russian
government, currency exposure, relative sector valuation. In-house research-driven credit analysis
currently favors short duration instruments.
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Open-ended bond fund – Russian Bonds
45%
Russian Bonds
40%
35%
30%
25%
20% `
15%
10%
5%
0%
-5%
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10
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Open - ended mixed fund – UFG INVEST - Balanced
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Open - ended mixed fund – UFG INVEST - Balanced
metals&mining
MTS 14.89%
4,37%
Uralkali 12.39%
cash
chemistry 36,41% Gasprom 9.81%
12,39%
Sibmetinvest 4.34%
RusHydro 3.98%
Strategy Highlights:
z Equity: Stock picking strategy. Decisions are based on deep analysis of emitters and their activities
giving preference to companies with stable financial results.
z As for bonds, the choice will be made in favor of emitters with attractive risk vs. profit index as well
as with the best potential for enhancing credit quality within a period of 6-9 months
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Open-ended mixed fund – UFG INVEST - Balanced
70%
60% OFG-INVEST Balanced
50%
40%
30%
`
20%
10%
0%
-10%
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10
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Open-ended equity fund – INFRASTRUCTURE
Objective:
The investment objective of the Fund is to achieve long-
term capital growth through investments in stocks with
the focus on infrastructure
Strategy Highlights:
INFRUSTUCTURE Fund invests into a wide range of
stocks belonging to actively developing sectors of the
Russian economy: construction, real estate,
transportation and utilities
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Open-ended equity fund – INFRASTRUCTURE
transportation
Equity 67.96%
metals&mining
19,47%
19,66%
Cash 2.04%
19
Open-ended equity fund – INFRASTRUCTURE
250%
Infrastructure
200%
150%
100%
`
50%
0%
-50%
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10
20
Open-ended equity fund – FUND 2025
Objective:
The investment objective of the Fund is to achieve
long-term capital growth. Fund 2025 employs an
aggressive investment strategy, preferable selection of
the second tier stocks based on fundamental
approach to selection and has a long-term investment
horizon. The Fund invests into present and future
leaders of the Russian and global stock market. The
fund is ideal for regular investments.
Strategy Highlights:
Fund 2025 employs an aggressive investment
strategy, preferable selection of the second tier stocks
based on fundamental approach to selection and has
a long-term investment horizon
21
Open-ended equity fund – FUND 2025
gold
9,52%
telecom List of TOP 5 positions
7,88%
consumer
as of August 31, 2010:
5,31%
pharmaceuticals
6,53%
Polymetal 9.52%
cash Novatek 7.99%
metals&mining 6,56%
3,65%
industrial gas constructionchemistry Bank Saint Petersburg 7.68%
2,76% 7,98% 3,94% 5,26%
Sistema 6.85%
Pharmstandard 6.53%
Strategy Highlights:
Fund 2025 employs an aggressive investment strategy, preferable selection of the second tier stocks
based on fundamental approach to selection and has a long-term investment horizon
22
Open-ended equity fund – FUND 2025
300%
200%
150%
`
100%
50%
0%
-50%
Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10
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Charity
z Deutsche UFG Capital Management decided to create a long-term charity program for FUND 2025
z The philosophy of FUND 2025 is: “We can’t build our future without supporting children who need
our help. By developing your own financial prosperity for tomorrow, you help someone today”
z This program supports children with oncology, hematology and other devastating diseases
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Investment team
Investment team
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Investment team
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Contacts
Anton Denisov
Senior Investment Advisor
Anton.Denisov@ducm.ru
5 Petrovka Street,
107031 Moscow, Russia
www.ducm.ru