From july till september (3Q2015) the Fund’s unit added 5.3%. From the beginning of the year the Fund’s unit rose by 32.4% (for comparison MICEX index rose 17.6% for the same period). Better than stock market index performance is due to large share of bonds in portfolio (more than 50% of assets).
Performance TNO Capital vs MICEX index (Dec 30, 2014 = 0%), 9m2015
Bond portfolio indicators at September, 2015:
— Weighted average yield 11.19%
— Duration 18.3 months
(1 year=365 days; discount rate=11%)
— Wide portfolio diversification — not more than 6% for each issuer