ICU, the leading Ukrainian asset manager and government bond broker, today announced the launch of ICU Global Equity Index, a closed qualified mutual investment fund with an issue size of UAH 130 million. “Through the ICU Global Equity Index Fund, local private and institutional investors can invest in Exchange-Traded Funds (ETFs) of various sectors of the economy, in particular, NASDAQ and S&P 500, as well as other indices including gold, health, consumer and Asian companies,” ICU said in a report on Thursday.
In early March the National Securities and Stock Market Commission of Ukraine confirmed the fund complied with the asset size requirements.
“We have been seeing a lot of demand from investors to invest in foreign instruments, so we decided to expand our offering by adding an index fund in foreign currency to meet client demand,” Head of Asset Management at ICU Group Hryhoriy Ovcharenko said.
He said that the fund’s retrospective results for the last 15 years (including crisis periods) more than doubled the benchmark – the yield of the S&P 500, proofing the strategy’s effectiveness.
ICU is an independent asset management and investment advisory firm specializing in the emerging markets of Central and Eastern Europe. Founded in 2006 by senior investment professionals from ING, ICU is Ukraine’s leading asset manager with over $500 million in assets under management.
Makar Paseniuk and Kostiantyn Stetsenko are founding partners of ICU.
