LHV Emerging Europe Alpha Fund
If you would like to receive monthly reports, please inform LHV customer support. Investment Strategy The Fund aims to benefit from EU convergence trends and rising consumer spending in emerging Europe. The Fund invests actively in listed final consumer oriented companies that gain from increasing household income and emergence of middle class in Eastern Europe, including Russia and Ukraine. The Fund picks companies with profitable operations, strong brand identity, distribution reach and pricing power mostly from the following industries: retail, banks, finance, real estate, construction, and entertainment.
Fund Manager's Comment Despite fears about Greece's debt crisis stock markets rallied on emergent improving macroeconomic news waking hopes of world economy recovery. Indicators of CEE also began to show a gradual economic upturn. The turnaround was mainly visible in higher exports, industry production and annual 4Q GDP growth improvement comparing to lows of 2Q. Hardest hit economies of Latvia and Lithuania managed to diminish contraction to 17.7% and 12.8% vs. drop of 19.6% and 19.5% in 2Q. Croatia, Hungary and Czech Rep. saw annual decline of 4.5%, 4.0% and 2.8% respectively. Poland as usual stood out of the region by presenting 3.1% y/y GDP growth in 4Q. EIB announced plans for enhanced investments in Turkey, Serbia and Croatia this year seeking to assist to economically poor regions, provide support to SMEs and ensure stable and long-term output of enterprises. During the month the Fund expanded its exposure to Baltics by acquiring City Service, Olympic Entertainment, Tallinna Kaubamaja and TEO shares.
Discussion Board Click HERE News In order to place a standing order, please contact our Customer Support by phone +372 6 800 400 or e-mail info@lhv.ee. | Issue Price: 4,2637 EUR Key Stats Publicly offered: Estonia, Latvia, Lithuania Nominal value: 10 EUR B-units Nominal value: 100 EEK Established: 4/12/2007 Issue Fee 2% Depositary: Swedbank Documents Presentation > Reports March 2010 Annual Reports |
| NAV and yield as of 08.09.2010 | |||||||
| NAV | Yield | ||||||
| 1d | 1m | YTD | 1y | 3y* | 5y* | ||
| LHVALPHA | 4.1801 EUR | 0.62% | -1.22% | 9.95% | 10.68% | -24.14% | - |
