LHV pakub oma klientidele enda poolt juhitud aktsiafondi, mis investeerib tarbimisega seotud sektoritesse Uues Euroopas.
Kiirelt kasvav Uus Euroopa pakub aktsiatesse investeerijatele jätkuvalt suure potentsiaaliga võimalusi. Kuid hea tootluse saavutamiseks tuleb tulevikus rohkem tähelepanu pöörata õigete aktsiate ja majandusharude valikule.
Läbi aktiivse investeerimise paigutame raha lõpptarbijatega seotud ettevõtetesse, mida ootab ees pidev käibe ja kasumi kasv. Inimeste sissetulekud selles regioonis kasvavad hüpetega ning vaba raha suunatakse edasi tarbimisse. LHV Tõusva Euroopa Alfa Fondi eesmärk on selle laiaulatusliku ja pikalt kestva makrotrendi pealt investoritel võimalikult hästi teenida.
Fondijuht Romanas Bulatovas valib välja ettevõtted, mis kasvavad kiiresti, on tugeva kaubamärgi, jaekaubandusvõrgu, positiivse rahavoo ning hinnakujundamise positsiooniga. Fokuseeritud investeerimisstrateegia tõttu kuuluvad enamik investeeringuid järgmistesse sektoritesse: jaekaubandus, pangandus, tarbimislaenud, ehitus, kinnisvara, tervishoid ja vaba aeg.
Mihkel Oja
tegevjuht
LHV Varahaldus
1. augustini saab fondi investeerida ilma sisenemistasuta. Minimaalne investeering on 50 eurot. Väljumistasu fondil puudub.
Ostukorralduse puhul, mis esitatakse enne kella 12 päeval, on tehingu aluseks olev hind sama päeva osaku puhasväärtus (NAV). Kui ostukorraldus laekub peale 12 päeval, võetaks tehinguhinnaks järgmise pangapäeva osaku puhasväärtus (NAV). Ostukorralduse esitamiseks tuleb „Portfelli“ alt valida „Fondiosakute ost/müük“ ning sealt fondiosak „LHV Tõusva Euroopa Alfa Fond, EUR, LHVALFA“.
Et osta osakuid esimesel päeval nominaalhinna 10 euro pealt tuleb ostukorraldus esitada kella 12-ks. Peale südapäeva esitatud ostukorralduste puhul võetakse aluseks esmaspäevane osaku puhasväärtus.
Ostukorralduse puhul, mis esitatakse enne kella 12 päeval, on tehingu aluseks olev hind sama päeva osaku puhasväärtus (NAV). Kui ostukorraldus laekub peale 12 päeval, võetaks tehinguhinnaks järgmise pangapäeva osaku puhasväärtus (NAV). Ostukorralduse esitamiseks tuleb „Portfelli“ alt valida „Fondiosakute ost/müük“ ning sealt fondiosak „LHV Tõusva Euroopa Alfa Fond, EUR, LHVALFA“.
Et osta osakuid esimesel päeval nominaalhinna 10 euro pealt tuleb ostukorraldus esitada kella 12-ks. Peale südapäeva esitatud ostukorralduste puhul võetakse aluseks esmaspäevane osaku puhasväärtus.
Fondijuhile on võimalik selles foorumis esitada küsimusi, kuid seda tuleks teha kas inglise, leedu, läti, poola, vene, saksa või iiri keeles. Samuti üritab ta vastata küsimustele, mis on esitatud tšehhi, prantsuse, slovaki, ungari ja rumeenia keeles, kuid mitte eesti keeles.
The fund manager will reply to all questions regarding the fund and the investment strategy that are presented in English, Lithuanian, Latvian, Polish, Russian, German or Irish. And will try to answer all questions in Czech, French, Slovak, Hungarian and Romanian, except Estonian.
The fund manager will reply to all questions regarding the fund and the investment strategy that are presented in English, Lithuanian, Latvian, Polish, Russian, German or Irish. And will try to answer all questions in Czech, French, Slovak, Hungarian and Romanian, except Estonian.
Hi, everybody!
I am the Fund manager - and I can answer all your questions regarding the strategy and policies of the new fund.
Best regards
I am the Fund manager - and I can answer all your questions regarding the strategy and policies of the new fund.
Best regards
Ma teeks küsimustega otsa lahti.
Romanas, oled Leedu turgu üsna pikalt jälginud, millised oleksid sinu lemmikettevõted sellelt turult?
Romanas, what is Your top pick from lithuanian stock market?
AloV
Ei tohtinud ju eesti keeles küsida, pidi iiri keeles küsima :)
Ei tohtinud ju eesti keeles küsida, pidi iiri keeles küsima :)
Same question about Estonia and Latvia. Which are you favorite companies in Estonia and Latvia?
Võib siiski ka eesti keeles, saame alati Romanasele ära tõlkida ning siiski Romanasega kokku puutunud inimesena kahtlustan, et ta mõistab ka eesti keelt.
AloV, mis keeles küsimusi polnud mõtet esitada?
At the moment I see Baltic markets flat, so maybe Baltics are not priority to buy into portfolio. But if asked in general - I see potential in Tallinna Kaubamaja, Olympic. In Latvia - Latvijas krajbanka. In Lithuania - banks, Apranga.
What about Stumbras?
STU is interesting, but I still have 10 days to look closer into the company. Maybe we will participate, but I am not ready to say it definitely now
Hi Romanas
If You are Alpha Fund and talking about making alpha, You need to compare Your performance against something ... so what will be fund benchmark?
If You are Alpha Fund and talking about making alpha, You need to compare Your performance against something ... so what will be fund benchmark?
Hi and congratulations! Taking into account the very good track record of LHV pension funds, I hope we see good performance here as well. I have few questions to ask.
1) Considering the huge growth in Balkan and Easten European region, is there any particular indicators that may give the evidence that these stock-markets still have the potential to grow?
2) What are these main points that differentiate the new fund from other funds that are already investing in the region.
Thanks, and good luck!
1) Considering the huge growth in Balkan and Easten European region, is there any particular indicators that may give the evidence that these stock-markets still have the potential to grow?
2) What are these main points that differentiate the new fund from other funds that are already investing in the region.
Thanks, and good luck!
Re benchmarks - they are meaningful for funds that follow the market (beta funds) - so that you can see how closely does the fund follow it. The consequence of such benchmarking is that Fund managers are literally forced to buy the stock of all biggest companies quoted on that stock exchange in order not to "miss" market's performance. We are not investing on the basis of capitalisation, neither take into account influence of the companies on the flagship index. We are rather absolute return oriented fund - the aim is to make consistently 15-20% over many years to come. And I can promise that this fund will be much less correlated with target stock markets than other funds. You won't find companies like Petrom, INA, PKN Orlen, Lukoil or MOL in our portfolio - and those companies are influencing respective indices very much. Neither you will see Eesti Telekom, Ukrtelekom or TPSA. Therefore this fund will be really different from what is on the market.
Good questions, wise!
We had the same internal discussions at LHV. And the reason fund is set up the way it is - we came to conclusion that "buy anything" strategy is over in CEE. We select companies on case-on-case basis - not because "everybody" is buying this or that. Rather like classic value investors did - no chasing fads, just sound companies with clear business model. And if you don't buy everything - there are always companies that grow and develop and you can make money out of it. Thus, it makes more sense to discuss particular companies' potentials, not CEE markets in general.
Second question - I think I covered this in passage on benchmarking. It is rather obvious that fund will be VERY different.
We had the same internal discussions at LHV. And the reason fund is set up the way it is - we came to conclusion that "buy anything" strategy is over in CEE. We select companies on case-on-case basis - not because "everybody" is buying this or that. Rather like classic value investors did - no chasing fads, just sound companies with clear business model. And if you don't buy everything - there are always companies that grow and develop and you can make money out of it. Thus, it makes more sense to discuss particular companies' potentials, not CEE markets in general.
Second question - I think I covered this in passage on benchmarking. It is rather obvious that fund will be VERY different.
So your BM is Euribor (CPI) + x ? and x=?
Or how you define generated alpha?
Or how you define generated alpha?
Alpha in this case means that the Fund actively picks stocks, not just buying top 5 companies from every market. Therefore, Fund's performance is not very much related to market performance per se, but to the skills of Fund manager to see potential companies. This is what we deem to be alpha. Up to know almost all funds offered to investors just imitated market with small discrepancies - and this strategy will start failing soon, in our opinion.
Sounds like nothing new but just a direct competitor to some of Avaron and Trigon funds. Do you agree?
Romanas,
1) How many companies to you expect to have in the portfolio at any time? What are the max weightings of single companies relative to fund size?
2) What is the region you're investing to? Which CIS countries does it include, what about Turkey and new Balkan countries?
3) What is your macro vision in the region currently, what markets do you like/dislike today the most?
4) Will you hedge the currency risk?
5) How does the fee structure look?
6) How many people do you have in the team, what is their relevant experience?
Best of luck with the opening!
1) How many companies to you expect to have in the portfolio at any time? What are the max weightings of single companies relative to fund size?
2) What is the region you're investing to? Which CIS countries does it include, what about Turkey and new Balkan countries?
3) What is your macro vision in the region currently, what markets do you like/dislike today the most?
4) Will you hedge the currency risk?
5) How does the fee structure look?
6) How many people do you have in the team, what is their relevant experience?
Best of luck with the opening!