The authoritative international publication Euromoney has recognized ‘Sokrat’ as the Best Managed Institution in Asset Management in Ukraine within the ranking “Best Managed Financial Institutions”. This award was presented by Euromoney’s Representative in Europe, Martin Born.
This is the first time that the publication established performance rankings to highlight the best managed financial institutions, including companies from Western, Central and Eastern Europe, as well as the CIS. Apart from the ‘Sokrat’, UkrSibBank was also recognized amongst Ukrainian companies.
The companies covered in this ranking received high appraisal from experts based on several criteria, among which are the most convincing and coherent business strategy, the most improved performance, the most transparent financial accounts, the highest standard of corporate governance, and the most accessible company to investors and analysts.
The assessment took into account the results for 2007 of the ‘Sokrat’ Asset Management Company, a member of the ‘Sokrat’ investment group. The ‘Sokrat’ Asset Management Company was named among the three largest Ukrainian asset management companies operating in the non-venture funds sector, with six investment funds under its management at year-end, five of which are public. In 2007, for the first time on the Ukrainian market, the ‘Sokrat’ Asset Management proposed a strategy of sector-specific investment (“Energy Premium Fund”, “Metallurgy – Machine Building Premium Fund”), as well as an index-based portfolio strategy for public funds (“Index Premium Fund”). According to 2007 results issued by the information resource www.investfunds.com.ua, funds managed the ‘Sokrat’ Asset Management Company were the profitability leaders for 2007. Amongst Ukraine’s private corporate funds, the “Premium Fund” Closed Non-Diversified Corporate Investment Fund took honors, with an annual income of 204.89%, while the “Balanced Premium Fund” Open Diversified Mutual Investment Fund was highlighted among open mutual funds, with annual returns of 95.79%. The “Premium Fund” and the “Balanced Premium Fund” were leaders on the Ukrainian market with respect to the ratio of risk/return (the Sharpe ratio), according to the weekly journal Expert’s rating of Ukrainian investment funds.
“Recognition from such an authoritative edition as Euromoney is very valuable to us,” stated Grigoriy Ovcharenko, the Executive Director of the ‘Sokrat’ Asset Management Company. “2007 provided us with many opportunities, and we used the positive trends on the market to the maximum, expanding the scope of the company’s activities by offering new products and developing our regional network. Of course, today the market of mutual funds, like the stock market in general, is subject to the significant influence of the global financial crisis, placing greater responsibility on market leaders. In this situation, we are intent on using the experience we have gained and adjusting the investment strategies of our funds to ensure the safety of clients’ investments, as well as increasing their liquidity”.
Press Service of the ‘Sokrat’ investment group
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e-mail: kolesnichenko@sokrat.kiev.ua