State Central Depositary has published the official report for the first half of 2007. In the reporting period the Depositary provided services to 2 private investment funds (PIFs) and 3 investment funds (IFs) owned by around 46,800 shareholders, including 19 corporate entities holding some 133,500 shares, and 46,778 individuals, owning over 3 million shares. To compare at the end of the first half of 2006 there were 46,941 shareholders, including 17 corporate entities and 46,924 individuals).
In the reporting period, investment funds concluded eight deals at the secondary exchange and off-board deals on the purchase and sale of shares worth 219.2 million soums.
A slight increase in the aggregate value of total and net assets of the investment funds was observed year-on-year. Thus, total assets grew by 88.6 million and net assets by 75.4 million soums. Dustlik PIF demonstrated an asset growth 15.6% higher than the rest of the five funds.
Olim-F PIF ended the reporting period with a loss of 3.7 million soums, and the aggregate profit of other funds comprised only 24.7 million soums, which is 2.6 million soums or 9.7% lower than in the same period of 2006. One of the main reasons for the negative financial performance is seen in the fact that Kamalak, Olim-F and Dustlik funds did not receive return on capital (profit on securities sold). At the same time the funds’ expenses, except for the Dustlik PIF increased substantially – by 3 millions soums, or 15.7%.
As for the profitability of the investment portfolios, at four of the five investment funds (Kamalak, Dustrlik, Semurg, and Baraka) it grew slightly and exceeded the previous first half-year results by 4.7%. The lowest results were demonstrated by Olim-F PIF, which turned to produce no profits or returns on investments. Its revenue dropped by 89.2% and expenses grew by 37.3% compared to last year’s results.
A slight drop in the return on equity is observed for all investment funds. In particular, at Olim-F PIF they declined by 5.6% and at Dustlik PIF – by 6.3%.