DSK Bank SPJSC - Sofia - Short Company profile

Bank fund managers attracted more than EUR 948 million to their portfolios at the end of September At the end of September, bank-affiliated asset management companies in Bulgaria operated a total of 44 contractual funds, up from 42 in the first half of the year, according to data from the Bulgarian Association of Asset Management Companies (BAAMC). These funds held a total of 948,485,489 euros, compared to 956,061,079 euros held in their portfolios between April and June. The largest bank-affiliated asset manager remains KBC Asset Management NV, part of the KBC Group. The company manages 12 collective investment schemes, with total assets under management reaching 639,829,909 euros—an increase from the 585,137,020 euros recorded at the end of June. The most successful mutual fund managed by this firm is "UBB Expertise Highly Dynamic Tolerant Responsible Investing," which posted a return of 12.63% for the first nine months of this year. Over the last twelve months, this collective investment scheme has generated a return of 15.88%. The public offering of its units began on April 4, 2022, and the fund’s portfolio has accumulated 236,328,644 euros. UBB AD, which has branches throughout the country, continues to serve as the distributor for these units. DSK Asset Management is the second-largest bank-affiliated asset management company in Bulgaria. Its shareholders are DSK Bank, with a 25% stake, and OTP Fund Management—part of the largest Hungarian financial group, OTP—which holds 75%. The fund manager’s portfolio includes 19 contractual funds, with total assets under management amounting to ˆ232,479,390 (compared to ˆ296,613,951 at the end of June). "DSK Rastezh" (DSK Growth) recorded the highest return for the nine-month period (12.41%), with ˆ15.25 million in assets. The fund offers a broad range of investments, primarily in equities and equity-linked instruments across various sectors. The sole owner of "CCB Assets Management" is Central Cooperative Bank AD, which holds 100% of the company's shares as part of its financial group. The fund manager operates four contractual funds, managing a total of ˆ34,842,587 (compared to ˆ33,611,669 at the end of June). "CCB Aktiv" has been the best-performing fund since the beginning of the year. The fund’s investment policy focuses on generating capital gains from equities, dividend income, and current income from debt securities, money market instruments, and other financial instruments. The raised funds may also be invested in regulated markets, both domestically and abroad. The collective investment scheme recorded a return of 0.81% at the end of September, with accumulated assets totaling 16,032,317 euros. Texim Bank AD is the sole owner of the capital of Texim Asset Management. The management company operates four collective investment schemes, which have attracted 28,536,360 euros—an increase from the 28,101,692 euros recorded in the second quarter. Texim Balkani achieved the highest return over the nine-month period (10.12%). The fund’s assets are invested primarily in equities, and to a lesser extent in debt securities (bonds) and money market instruments—traded both on regulated markets in Bulgaria and on internationally recognized markets abroad. It manages 7,234,406 euros. PFBK Asset Management manages three funds for Fibank (First Investment Bank AD). Over the six-month period, these funds attracted a total of 7,712,115 euros. The most successful fund during this period was PIB-Avangard, which generated a return of 21.56% for its clients. This is a global, high-yield equity fund. Its strategy focuses on identifying companies with significant growth potential ahead of other market participants, utilizing both in-house and external analyses and valuations. The assets accumulated in this fund amount to 2,388,733 euros. Obshtinska Banka Asset Management manages two contractual funds: "Obshtinska Banka – Balanced" and "Obshtinska Banka – Perspective." Clients have entrusted a total of 4,843,989 euros to the firm for management, compared to 4,884,633 euros at the end of the half-year. The sole owner of this fund management company is Obshtinska Banka AD. The ultimate parent entity of the management company is the Liechtenstein-based Novito Opportunities Fund AgmvK, which is also the majority shareholder in the credit institution, holding a 96.51% stake. The remainder of the bank's capital is distributed among smaller municipal entities and several municipalities in Bulgaria.