STK Emergent monthly NAV report
July 2022
Fund profile: alternative investment fund (AIF) listed on the Bucharest Stock Exchange
Fund objectives: invested capital increase, a 25% return per year on the managed assets and a return higher than the BET market index (1.3 x return of the BET index), distributing dividends to investors of the realised profit
Number of fund units in circulation: 609,753
ASF authorization: 232/15.11.2021, Reg.no. CSC09FIAIR/120013
Depositary: BRD - GSG
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Fund assets
|
RON
|
June
|
Juy
|
|
2022
|
2022
|
|
Unlisted shares
|
23,237,748
|
23,237,748
|
|
Tradeable portfolio
|
48,340,982
|
47,838,270
|
|
Listed shares
|
26,858,745
|
26,631,240
|
|
Bonds
|
409,130
|
414,256
|
|
Newly issued securities
|
0
|
0
|
|
Cash
|
17,226,996
|
17,065,817
|
|
Collective undertakings titles
|
3,846,111
|
3,726,957
|
|
Payable dividends
|
88,753
|
53,168
|
|
Other liabilities
|
151,925
|
151,107
|
|
Net assets
|
71,338,052
|
70,871,743
|
|
NAV per unit
|
116.99
|
116.23
|
In July the STK Emergent fund assets remained mostly unchanged as a result of a conservative allocation of investments and the stability of the capital market.
The Greensquare real estate project has received, in writing, the positive endorsement of CTAUTU (Technical Commission for Territory and Urban Planning) on the 5th August and the papers for the PUZ (Zonal Urban Plan) approval were submitted. After A period of public debate (30 working days) it will be elligible for approval by the Local Council. More details on the project are availbale on the website: www.greensquare.ro
The Fund successfully ended the fund unit issue in July when it raised approximately RON 7.5 mln as a preceding stage for developing the Greensquare project.
2. Tradeable portfolio
The international economic context remained pretty much the same: high inflation, rising interest rates, uncertainties regarding a possible recession in Europe and the US. As a consequence, we did not change the portfolio allocations.
Throughout July the Brent oil quote fell by approx. 5% and contributed, to a certain extent, to the cooling off of inflationary expectations. Nevertheless, there is an ongoing threat of rising oil prices by the beginning of the cold season and against the geopolitical tensions which bring about risks regarding the oil and gas flows from Russia to the EU.
3. Changes in the NAV per share
At the end of July, the NAV per unit stands at RON 116.23, down by 0.65%.
The Bucharest Stock Exchange did not register any significant numbers, the BET rose by 1.35% to 12,460 pts, while BET-FI reached 50.092 pts, down by 0.62%.
From launch to the end of July the net asset value per unit registered a positive variation of 22.3%, the BET index increased by 65% and the BET-FI index by 6.2% over the same time frame.
Past fund performance is no guarantee of future results!
Read the documents of incorporation before investing in this fund.