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Raiffeisen Aval Asset Management: Raiffeisen Aval Asset Management included gold to the assets of individual investment funds.
16 June, 2011
The next Tactical Asset Allocation Committee of Raiffeisen Aval Asset Management has taken place in order to review structure and results of investment portfolios and their adaptation to current conjuncture of Ukrainian and world markets.
Members of the Committee made an analysis of macro and microeconomic position of Ukraine and agreed upon further possible development of equity markets and fixed income sector (deposits and bonds). Following trend, agreed on last meeting of the Committee, it was decided to continue to enlarge corporate bonds by decreasing state bonds and also to preserve positions of metallurgy and energy sectors at overweight level.
The Committee also decided to broad range of assets available for investment in closed-ended funds of the Company by adding the Gold asset to them. For Capital growth, Capital income, Capital preservation and Capital inheritance the Gold part is at 10%, 15%, 20% and 25% accordingly.
“The decision to include gold into portfolios of closed-ended funds was approved considering high inflation level expectations in world and due to high positive correlation between inflation and raw materials prices. Gold in portfolios will help not only to preserve investments but also increase performance especially at volatile markets”, - comments Vadym Mosiychuk, the CEO of Raiffeisen Aval Asset Management.
One more important issue on agenda is launch of effective risk-management system according to recommendations of Austrian Raiffeisen Capital Management in frames of the process of risk-management quality improvement according to international standards. Due to these recommendations we signed the agreement with Raiffeisen Bank Aval on cooperation in risk-management with Department of management of market risks and risks of financial institutions. The agreement includes documents that define investment process, analysis of counterparts risks, market risks, liquidity levels and appropriate risk levels.
The Committee of Tactical Assets Allocation consists of representatives of Raiffeisen Aval Asset Management and also the specialists of Raiffeisen Bank Aval on financial markets and risk-management and also the representatives of the research center “Raiffeisen Research”. The Committee meets on a quarterly basis.
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Members of the Committee made an analysis of macro and microeconomic position of Ukraine and agreed upon further possible development of equity markets and fixed income sector (deposits and bonds). Following trend, agreed on last meeting of the Committee, it was decided to continue to enlarge corporate bonds by decreasing state bonds and also to preserve positions of metallurgy and energy sectors at overweight level.
The Committee also decided to broad range of assets available for investment in closed-ended funds of the Company by adding the Gold asset to them. For Capital growth, Capital income, Capital preservation and Capital inheritance the Gold part is at 10%, 15%, 20% and 25% accordingly.
“The decision to include gold into portfolios of closed-ended funds was approved considering high inflation level expectations in world and due to high positive correlation between inflation and raw materials prices. Gold in portfolios will help not only to preserve investments but also increase performance especially at volatile markets”, - comments Vadym Mosiychuk, the CEO of Raiffeisen Aval Asset Management.
One more important issue on agenda is launch of effective risk-management system according to recommendations of Austrian Raiffeisen Capital Management in frames of the process of risk-management quality improvement according to international standards. Due to these recommendations we signed the agreement with Raiffeisen Bank Aval on cooperation in risk-management with Department of management of market risks and risks of financial institutions. The agreement includes documents that define investment process, analysis of counterparts risks, market risks, liquidity levels and appropriate risk levels.
The Committee of Tactical Assets Allocation consists of representatives of Raiffeisen Aval Asset Management and also the specialists of Raiffeisen Bank Aval on financial markets and risk-management and also the representatives of the research center “Raiffeisen Research”. The Committee meets on a quarterly basis.
Upload press-release in pdf-format.pdf
