elana fund management bulgaria - corporate profile 2017 (en language)
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www.elana.net/fund-management
www.elana.net/fund-management
15 years in the lead
ELANA Fund Management is among the very first licensed asset managers in Bulgaria founded 2002. It started the first mutual fund in the country.
A member of the Bulgarian Association of Asset Managers. Member of the Board of BAAM.
Offers 7 UCITs funds and discretionary portfolio management to high-net-worth individuals /HNWI/ covering the full risk spectrum of investment strategies as well as saving plans.
Total assets under management – approx. EUR 50 mln. (31 Dec 2016, BAAM).
Among the top 5 players by AUM on the Bulgarian mutual funds market.
14 annual industry awards based on rankings of asset managers and funds.
Provides service to approx. 2000 institutional and individual investors, being distinctive for strong retail customers base.
Part of ELANA – one of the largest local institutions in the non-banking financial sector with history of 26 years in finance, investment, consultancy.
www.elana.net/fund-management
ELANA Group portfolio
Asset managementELANA Fund Management
15 years in the lead Started the first mutual fund Manages 7 UCITs funds and individual portfolios Approx. EUR 50 mln. AUM Recognized by 14 national and international
awards
Brokerage & investment bankingELANA Trading
26 years a licensed broker in the top 5 Full-service provider on Bulgarian and
international financial markets Best Bulgarian Broker of the Year 2016, 2015,
2014, 2013 and 2010 Trusted long-term partner to international
institutions
Public funds managementBulgarian Energy Efficiency and Renewable Sources Fund 12 years promotion of energy efficiency Fund Management granted via World Bank Selected as the first private fund manager of a
public fund
Regional Urban Development Fund Jessica Funds granted by EIB Partner of Societe Generale Expressbank 4 years – EUR 55 mln.
Renewable energyELANA Energy Management
RE projects since 2004 2 projects certified Class A Investment by
InvestBulgaria Agency (the governmental arm to promote investment in Bulgaria)
Farmland investment ELANA Agrocredit
First farmland financial leasing company Registered as a financial institution in 2012 Listed on the Bulgarian Stock Exchange -
Awarded The Best IPO in 2013 Guaranteed annual dividend Invested EUR 26 mln. in farm land purchase and
loans to farmers (as of 31 Dec 2016).
EU funding consultancyELANA Investment
18 years successful EU-funded projects for business and public administration
Consulted over 500 enterprises, agricultural producers and municipalities
Facilitated over EUR 260 mln. aid investment in BG industry and agriculture
www.elana.net/fund-management
Mission and values
Our mission
ELANA Fund Management strives to provide opportunities for wealth improvement to each and every of its investors – large andsmall, institutional and individual – by highly professional and wise investment management as well as by caring and accountablecustomer service.
Our values
We believe integrity and transparency are in the core our work. We are in the business of trust which can only be successful if wecare every day for the best interest of our investors and build a long-term relationship with them.
Our investment philosophy and approach
We take a fundamental approach to investing and rely on our in-depth analysis to bring the best results with a long-term vision. Indesigning our products we maintain ELANA’s twofold principle – keeping up with tradition & innovation: sustain the best ofexperience and grasp the future opportunities.
www.elana.net/fund-management
Core Team
Martin Nikolov has got 26 years’ experience in investmentmanagement. He is part of ELANA team from the very founding thecompany in the early 90s. Until 2006 he was the executive director ofthe brokerage ELANA Trading. Since then he took over themanagement of the asset manager in ELANA group. Mr. Nikolovgraduated Economics at the New Bulgarian University and specializedcurrency hedging at Merrill Lynch-London as well as Technical Analysisat ING Bank-Austria.
Martin NikolovExecutive Director and Member of the Board of ELANA Fund ManagementMember of the Board of ELANA Financial Holding
Ivaylo Penev, CFA Head of Asset Management Department, Member of the Board of ELANA Fund Management
Ivaylo Penev has over 15 years of experience in investmentmanagement and trading. He joined ELANA 2004 as anexpert on global financial markets at the brokerage ELANATrading. In 2007 he joined the asset management team ofELANA Fund Management. Since 2009 Mr. Penev headed thedepartment and in 2013 was appointed to be a Boardmember. Before ELANA, he had worked at debt securitiesand FX trading departments at the International Asset Bank(former First East International Bank).He graduated Banking & Finance at University of Nationaland World Economics. He is a licensed investmentconsultant by the Financial Supervision Commission as wellas CFA charterholder. Mr. Penev is a member of theBulgarian Dealers Association. He delivers thematic lectureson Finance at the American University in Bulgaria and at theAtanas Burov Foundation summer school on capital markets.Mr. Penev participates in the MBA Program in Finance ofVienna University Executive Academy with expectedgraduation in 2016.
Board MemberProcurator of ELANA Fund ManagementMember of the Board of ELANA Financial Holding
Georgi Malinov is the procurator of ELANA Fund Management and also amember of the Board of ELANA Financial Holding. He joined ELANAteam in 2003 after having legal positions in private businesses.Graduated Law at Sofia University.Georgi Malinov is member of the Board of the Bulgarian Association ofAsset Management Companies.
www.elana.net/fund-management
Partnerships
In Bulgaria, ELANA Fund Management is a founding member of the Bulgarian Association of Asset Managers and currently is amember of the board of the organisation. It represents the local fund industry and works for improvement and development of themarket by legal and educational efforts in order to ensure investors find a fair investing environment.
Traditional international partnerships
In 2008 launched a capital-protected fund, designed for Bulgarian investors, in partnership with KBC Asset Management.
www.elana.net/fund-management
Award-winning mutual funds
Conservative investment strategy
Inception 2007 Currency – BGN Invests in fixed-income instruments Highest annual return on the market in
2008 (7.6%); among top local low-riskfunds in 2010 (8.56%) and 2011 (6.54%)
1.16% annual return 2016 0.19% standard deviation 2016 Awarded Best Bulgarian Investment
Product 2007 Awarded Business New Europe Best
Fixed Income Fund in CEE 2009
Inception 2009 Currency EUR Invests in fixed-income and money
market instruments, up to 10% stocks 4.41% annual return 2016 1.13% standard deviation 2016 Best conservative fund in 2016
national ranking of Investor.bg
Balanced investment strategy
Inception 2006 The first mutual fund in USD on
the local market Invests up to 60% in Bulgarian
and international stocks 7.49% annual return 2016 4.35% standard deviation 2016
Inception 2005 Currency - EUR and BGN Invests up to 60% in Bulgarian
and international stocks 5.21% annual return 2016 3.53% standard deviation 2016 Awarded Business New Europe
Best Balanced Fund in CEE 2013, 2015 and 2016
Best balanced fund in national rankings 2016 of Investor.bg and Moitepari.bg
www.elana.net/fund-management
Award-winning mutual funds
Aggressive investment strategy
Inception 2005 Currency – BGN Invests up to 90% in Bulgarian and
international stocks 8.91% annual return 2016 6.75% standard deviation 2016
Inception 2010 Currency EUR Invests up to 90% in stocks on
international markets Focus on global blue chips and
emerging markets ETFs -4.81% annual return 2016 6.49% standard deviation 2016
Inception 2016 Currency – BGN Invests up to 100% in stocks
focused on the Bulgarian market
www.elana.net/fund-management
Individual Portfolio Management
ELANA Fund Management offers discretionary portfolio management to high-net-worth individuals since 2002.
What makes the difference
Experienced and credible asset manager
Professional CFA team with long-standing experienced and proven results
Flexibility of terms – customised design of portfolio and service
Capacity and flexibility in investment opportunities – easy access to approx. 130 markets of stocks, bonds and derivatives
The return data wascalculated after accountingfor all the investments andwithdrawals within theperiod as well afterpayment of fees. Therepresent a sample ofportfolios active in theperiod of 1 January – 31December 2016.
Risk profile of portfolios of customers
Yield range 2016
Low-risk portfolios 4.81% - 8.25%
Balanced portfolios 3.65% - 8.38%
High-risk portfolios 3.31% - 8.79%
www.elana.net/fund-management
Recognition: 14 awards in 15 years
ELANA Cash Fund was awarded Business New
Europe Best Fixed-income Fund in CEE
2009
From 2006 to 2009ELANA Fund
Management was awarded The Asset
Manager of The Year within the annual
industry ranking by Banker Weekly
ELANA Cash Fund was awarded Best
Investment Product 2007 by the International
Exhibition Banks, Investments, Money
ELANA Eurofund was awarded The Best Financial Product
2003 by the International
Exhibition Banks, Investments, Money
ELANA Balanced EUR Fund was
awarded Business New Europe
Intellinews Best Balanced Fund in
CEE for 2013, 2015 and 2016
ELANA Eurofund and ELANA Balanced EUR Fund were ranked
first in their categories in the
national ranking „Best Bulgarian funds 2016“
of Investor.bg
ELANA Balanced EUR Fund was ranked first in its category in the
national ranking „Best Bulgarian funds 2016“
of Moitepari.bg
In 2016ELANA Fund
Management was ranked The Asset Manager of The Year within the
annual industry ranking by Banker Weekly
www.elana.net/fund-management
Bulgaria: Country Overview
Territory – 110 994 sq.km. Population – 7.364 mln. as per 2011 census, 72.5% urban
Political system – Parliamentary Republic
EU member since 1.1.2007, NATO member since 29.4.2004
Currency: Bulgarian Lev, pegged to EUR @ 1,95583
Currency Board Arrangement, strongly supported by all institutions and with solid coverage ratios
Ease of doing business score (WB ranking): No. 39 – 2017 ranking
Well-capitalized banking system with 20.88% total capital adequacyratio as of December 2016 compared to 13% average for EU
Flat 10% income and corporate tax, 0% capital gains tax, 5% withholding dividend tax
GDP Growth Bulgaria vs EU
Source: NSI, Eurostat
6.9%
5.8%
-5.0%
0.7%
2.0%
0.5%1.1%
1.5%
3.0%2.6%
2.5%
-6%
-4%
-2%
0%
2%
4%
6%
8%
BG, annual growth %
EU, annual growth %
www.elana.net/fund-management
Bulgaria: Market Overview
Mutual funds market: Potential for growth
Source: BNB, BSE, NSI. Funds AUM include local and foreign funds assets.
www.elana.net/fund-management
Bulgaria: Market Overview
Bulgarian Stock Exchange vs region and developed markets 2007 – 2016
Source: Bloomberg
www.elana.net/fund-management
Welcome to Bulgaria!
ЕLANA Fund Management
Sopharma Business Towers
5, Lachezar Stanchev St., Tower B, Floor 12-13
Sofia 1756, Bulgaria
Tel.: +359 2 81 000 40
Fax: +359 2 95 815 23
E-mail: [email protected]
Website: www.elana.net/fund-management
www.elana.net/fund-management
Disclaimer
The content of the current presentation has been published with information purpose only and does not constitute an offer orsolicitation to invest or buy or sell any securities in any country, including in the United States of America, and to any person in anyjurisdiction in which such offer or solicitation would be contrary to local law or regulation including to U.S. persons as defined inRegulation S under the Securities Act of 1933.
We would like to inform investors that the value of investments and the income from them can go down. Profit is not guaranteed and there is a risk that investors may not get back the amount originally invested. Mutual fund investment as well as the fund assets are not guaranteed by any insurance fund or other type of guarantee.
The return data of individual portfolios’ management presented here should not be considered an indication or example of future results. In individual portfolio management investors assign the fund manager with the task to structure and manage a portfolio of financial assets in accordance with a specifically defined investment strategy at the risk of the investor. Investing in financial instruments in accordance to various investment strategies holds certain risks and therefore profits are not guaranteed and there is a risk that investors may not get back the amount originally invested.
Potential investors should make a decision for investing in ELANA Fund Management mutual funds based on the official documentsof each fund: prospectus and key investment information document (KIID). The documents are available at ELANA FundManagement head office at 5, Latchezar Stanchev St., Sopharma Business Towers, Tower B, Floor 12, Sofia, Bulgaria, as well as atall ELANA investment centres and on website: www.elana.net.
More on risks related to investment in financial instruments on www.elana.net.