OREANDA-NEWS. January 14, 2007. Management company Finam Management, which is part of Finam Investment Holding, has tallied the results of its December 2007 performance related to the management of mutual funds. All open-ended mutual funds managed by the company generated profits in December 2007. Record returns were generated by the funds that pursue aggressive strategies (Finam MICEX Index and Finam Narodny).

Specifically, index fund Finam MICEX Index reported a 2.59% increase in the value of its fund units, while net assets rose 4.61%. Finam Narodny, whose asset portfolio is defined by unitholders themselves, again outperformed the market, with its fund units gaining 2.9% in value and net assets surging 11.16%.

Hefty returns were generated by another mutual fund (interval fund Finam Low-Liquidity Stocks) that operates using the aggressive strategy. Profits earned by its sharers equaled 3.05% and similar growth was recorded in net asset value. The next interval of this mutual fund will be opened on February 10, 2008.

Finam Management’s conservative funds also delivered growth in fund unit value and net assets. For example, Finam Bonds sharers earned 0.97% in December, while profits of the investors who entrusted their money to Finam Deposit (a money market fund) were as modest as 0.49%. The net asset value of these funds climbed 15.43% and 36.81%, respectively.

Finam First, which pursues a balanced strategy, reported 1.07% monthly returns to its unitholders, whereas its net asset value dropped 2.62%. This is attributable to the fact that ahead of the New Year holidays, that traditionally leads to uncertainty among Russian investors, many of them decided to park their cash in conservative funds.

The leader among close-ended mutual funds that Finam Management formed was real estate fund Finam – Capital Investments, with its fund units gaining 7.56% in December. The fund unit value at close-ended mutual fund Finam – Information Technologies remained virtually unchanged (down 0.17%).

“Against the backdrop of upbeat trends on the stock market our funds returned solid profits. I think that we’ll be able to shore up similar gains this year. A shakeup among our team of asset managers in the second half of 2007 has already yielded results. In addition, it’s noteworthy that our clients have the opportunity to increase their profits by converting their fund units without charging any fees, including on an online basis. This year we intend to take further steps to make new options available and also make efforts to broaden the range of our mutual funds” – Finam Management’s executive director Andrey Shulga noted.