Central Europe promises interesting profits

In December, the day on the capital markets changed significantly compared to November. This was reflected in particular in the bond market, where trends in the US and Europe merged, and thus in the euro-dollar market, where the strengthening of the euro against the dollar was from time to time a perpetual jump in the US currency.

The arrest of the month in the US market was well known volatilitou. The falling price of oil and the 41 K level did not help the companies and oil processors, but the rest of the industry did not limit it in any way and the prices of the stock rose. This growth trend did not last long and began to stop after the fall in oil prices shares again lose out on pharmaceutical companies, the technology sector and raw material companies.

However, the rest of the month was marked by growth, which was helped not only by the price of oil so well by information from the labor market. Both perpetrations occurred only due to long declines in individual sectors and the peak of the maximum could be experienced by two main indexes Nasdaq and Dow Jones. Western European stocks have generally copied developments in the markets, although they have shown less intensity.

The shares of the countries of Central and Eastern Europe were much better off, which recorded a much stronger growth, especially at the end of the month. and investors can be happy, thanks to the fact that pispl and esk stock market, which together with the Hungarians recorded during the year nevdan nrst.

ABROAD SHARES FUNDS
Nzev fondSprvceMnaZmna VJ / PL for 1 msc (v%)Zmna VJ / PL for 12 msc(v%)
Best performance for msc
EMIF TURKEYEMIUSD16,8632,08
F EURSMIDCAPGR BX ACC EURFRANKLIN TEMPLETON INVEST FUNDSEUR14,8322,86
HGIF-INDIAN EQUITYHSBC GLOBAL INVEST FUNDS SICAVUSD12,2429,25
Worst performance for msc
AAF-RUSSIA EQUITY FUNDABN AMRO IFEUR-6,23n/a
KBC EQUITY FUND OILKBC AMEUR-3,9214,82
KBC EQUITY F. EASTERN EUROPEKBC AMEUR-2,1822,94
Best and worst performance in a year
ESPA STOCK VIENNAERSTE-SPARINVESTEUR6,3163,15
STOCK AMERICA V KCERSTE-SPARINVESTEUR-1,61-13,59
Average performance of foreign equity funds3,1312,12

Between equity funds with this msc not the first city with the best performance placed a somewhat surprising fund EMIF Turkey with msn performance 16.86%. This fund from the Europartners Multi Investments Fund family invests mainly in Turkish shares and instruments in these shares and is actively managed. Its annual performance of over 30% and especially the results for the second year prove that the result for the December December is not and thus not accepted. Funds with a focus on the countries of Asia, especially Korea and India, recorded good results in December.

American and European bonds after the November split in December, they reunited and both markets grew. The price development clearly speaks in favor of the European ones. They have been particularly successful in the context of the cooling of global economic growth. Even with a slight decline in prices at the end of the month, bonds maintained a growing trend in December.

In the case of bonds pays the same as for the stock, and this is a sharp rise in prices for Central European bonds. Hungarian prices were affected by the reduction of the base year rate to 9.5%, in Poland, among other things, the price development was influenced by the publication of their unexpected producer prices. The growth of Western European counterparts was thus surpassed by domc bonds, with bonds in Slovakia presenting the largest number.

FOREIGN BONDS FUNDS
Nzev fondSprvceMnaZmna VJ / PL for 1 msc (v%)Zmna VJ / PL for 12 msc(v%)
Best performance for msc
RAIFFEISEN “VISION OF EUROPE”RAIFFEISEN KAGEUR4,4819,56
KBC BONDS CENTRAL EUROPEKBC BONDS ADVICEEUR4,3621,42
CS BF (LUX) EMERGING EUROPE BCREDIT SUISSE ASSET MANAGEMENTEUR3,5916,82
Worst performance for msc
BOND DOLLARERSTE-SPARINVESTEUR-3,02-6,58
U.S. DOLLAR SHORT TERMPIONEER ASSET MANAGEMENT S.A.EUR-2,23-6,64
F HIGH YLD EUR A DISFRANKLIN TEMPLETON INVEST FUNDSEUR-2,20-1,82
Best and worst performance in a year
KBC BONDS CENTRAL EUROPEKBC BONDS ADVICEEUR4,3621,42
BOND DOLLAR CORPOR. ERSTE-SPARINVESTEUR-1,97-9,26
Average performance of foreign bond funds0,665,20

Today, the results of the Central European bond market are also proven by the performance bond fund, which clearly leads the introduction of funds oriented to Central Europe and the developing European country. In the first five cities, the funds ranked first in these markets.

The Slovak bond market, benefiting from the koruna’s strengths, has been bought and will be affected by an acute lack of liquidity. Although bonds in response to the reduction of rates by Nrodn banka Slovenska had a tendency to decline, the opposite was true. Revenues fell sharply (prices rose) and by 25 points. In addition to strengthening me, such a public issuance calendar had a positive effect, according to which the Ministry of Finance intends to issue a significantly smaller volume of bonds in the first year than in this year, called the S&P rating, and last but not least positive sentiment in Europe. The development of the Slovak bond market thus ensured the highest performance money market fund KBC Multicash SOB SKK.

FOREIGN MONEY MARKET FUNDS
Nzev fondSprvceMnaZmna VJ / PL for 1 msc (v%)Zmna VJ / PL for 12 msc(v%)
Best performance for msc
KBC MULTI CASH CSOB SKKKBC AMSKK0,384,26
CONSEQ INV.CONS. BOND F.CONSEQ INVESTMENT MANAGEMENTCZK0,36n/a
JB STERLING CASHJULIUS BAER MULTICASHGBP0,303,95
Worst performance for msc
T US DOLLAR LIQ RESFRANKLIN TEMPLETON INVEST FUNDSUSD0,00-0,10
UNI-GLOBAL “MAX 3 YEARS”UNIGESTONEUR0,022,47
EURO RESERVE FUNDJANUS INTERNATIONAL LIMITEDEUR0,030,34
Best and worst performance in a year
KBC MULTI CASH CSOB SKKKBC AMSKK0,384,26
CZECH HYPOTECNIERSTE-SPARINVESTCZK0,20-1,89
Average performance of foreign money market funds0,151,18

Do you think that even for a year the Czech capital market will be as fast as it has been? Drink nm, darken your glow.

Heath IM Provement