It is not a bad thing for the past

Investments in the US stock markets failed in January’s price rise, although a week passed for not so bad. In our country, on the other hand, the stock exchange again reached its historical maximum. In addition to the action, investors have found their way to the funds, but lately they have preferred the same ones.

Analysts in the US are confused. This year’s January effect does not happen, and although the companies present most of the positive quarterly results, they are still selling on the market. The market fell despite a positive investment recommendation, and it was no different on the waters of the past week, for which technology paid for as much as possible. Over the next two days, in addition to very good market results and good macro data on horses, the relatively “oversold” technology sector also manifested itself, investors decided to buy horses and other markets also took over with technology.

The following days in the markets began to worry about the upcoming elections in Ireland, which had an impact mainly on the rise in oil prices, and this ultimately manifested itself mainly in the industrial index Dow Jones, which, unlike the technology Nasdaq, held a red hearing. On the last day of the week, the most noticeable effect on the growth of US GDP was the biggest development on the markets, nor did a slight decline prevent the markets from ending the week in disputed values ​​(DJIA + 0.35%, Nasdaq 0%, S&P 500 +0.25 %).

Although trading on the stock exchange did not start in any significant way, the shares of the Czech Telecom changed this situation during Monday afternoon, but Unipetrol continued its rapid growth. During the week, it proved to be the biggest driver of the market and recorded a double-digit percentage growth (+ 12%). They helped

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In particular, speculation about keeping a share on the stock exchange after the takeover of PKN and thus the record sales of the Paramo subsidiary will help him. Telecom, which accounted for mostly optimistic recommendations and weekly resale of the company, accounted for ten percent of the growth.

A positive development this week was recorded by the Philip Morris concern group, which fell well above the 18,000 K per share mark. In total, all companies trading in the SPAD segment reported growth. During the week, the most important first for the development of the market proved to be a surprising reduction in the base year rates by the central bank by a quarter of a percentage point and Orco Property’s admission to trading in SPAD from 1 February. Nothing prevented the PSE from re-attacking its long-term highs (PX-D + 3.8%, PX 50 + 4.3%).

At the over-the-counter RM-System, the main event of the week was one of the claims for compensation for the code created by the former CS Fund, now traded under the name AKRO Energetiky and AKRO Kapitlovch vnos. AKRO’s allegations were fully complied with and a fine of CZK 1.114 billion was imposed on R with the members. The funds were suspended from trading this week, but will be resumed from today, and therefore an interesting development of prices can be expected for the share certificates of these funds.

We also observed an interesting development in other mutual funds where investors could be mostly satisfied with their exchange rate than in the week ahead. After a long time, however, one of the money market funds found itself in ervench slech, IKS Penn trh (-0.02%). You are

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this bag compensated in the statistics of certain sales, where a week clearly dominated (+271.9 million K.).

In terms of performance, they have enjoyed the exchange of funds the most IKS Balancovan (+ 2.60%), followed by the equity fund ISS Sporotrend (+ 2.27%), who seem to want to show investors that their performance in the past year was not at all random. He took the opt-shift in this town AKRO mezinrodn flexibiln (+ 1.37%). There was no fund of funds, which fell somewhat after the first week, after all, on the very day this day, two shares of PI’s company ended, Nov Economy Fund (-1,51 %) a biotechnology farmacie fund (-1,65 %).

In certain sales, all groups succeeded in paying the salary, and the statistics of bond and equity funds held two ISS funds; Sporotrend (K 75.1 million) a Sporobond (50.1 mil. K).

Trading according to UNIS

Type of fundThe bestThe worst
Nzev fondAs a resultNzev fondAs a result
SharesISS-SPOROTREND2,27%PI Farm a biotech.-1,65%
PI Rop. a energet.0,83%PI Nov economy-1,51%
ISS-EUROTREND0,68%PI Globlnch znaek-0,76%
BondsISS-TRENDBOND0,78%SOB Quantity korunov-0,07%
ISS-SPOROBOND0,59%ISS-BONDINVEST-0,04%
IKS DLuhopisov0,54%SOB Bond Mix-0,02%
Funds fundICS Fund Fund -0,62%
ISS-GLOBALTREND-0,94%
Pennho MarketISS SPOROINVEST0,12%IKS Penn trh-0,02%
SOB entries0,04%Pioneer-Sporokonto0,03%
PI Pennho Market0,03%
SmenIKS Balancovan2,60%SOB Nadan-0,19%
AKRO mezinrodn flexi1,37%Rstov fond nadac-0,07%
ISS Entries1,10%SOB Quantity combine.0,00%
is sales of mil. KIKS Penn trh271,9ISS-EUROTREND-18,0
ISS SPOROINVEST155,9IKS Svtovch index-7,0
ISS-SPOROTREND75,1ICS Fund Fund -6,4

Zdroj: UNIS

Certainty and missed performance, otherwise it is not possible

KBC / SOB and ING funds are an example of this, when investing at home. In the case of certain sales of KBC / SOB (+217.9 mil. K), there is a clear orientation towards products with a low level of risk and the best net sales are achieved by money market funds (KBC Multi Cash SOB SKK Chapter +52.6 mil. K), or funds secured (SOB World Click + USD 4 +32.5 mil. K). It is probably no coincidence that this company places the most hedge funds on our market (last time two weeks ago they were the funds SOB Svtov Click + USD 4 and SOB Svtov Click + 16).

On the other hand, ING (a total of +34.7 million CZK last week) does not even consider the creation of hedge funds, but on the other hand, the slippage in the sale of ING Czech equity fund (+45.0 million CZK), which last year recorded actual performance.

Shift in the KTP case

On 25.1. The first board of the Garann ​​Securities Trading Fund (GFOCP) decided to initiate the payment of advances on payments for unissued assets of the client of the former trader KTP Quantum. The payment could start regularly and the GFOCP has set aside 332.1 million K for this el. .

For how long, according to vs, will investors ignore risky forms of investment? Do you think that it is good to orientate when collecting the fund its past performance?