For 9 months of 2017 TNOC unit rose by 13.76%. Mostly all of this movement has got in the 3d quarter of 2017 and is due to operations with equity securities (MICEX: TGKB, DIXY), dividends received (ALRS, GMKN), yield received from fixed income securities (sub-federal and corporate).
Comparable dynamics of TNOC unit, MICEX index, Governement bond and Corporate bond indices with 1-3 years duration.
Source: MICEX , TNOC calculations
According to the investment strategy, the price of the Fund unit will get around 15% for the year.