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Yapı Kredi Asset Management Annual Report 2012
27
Products and Services
Alternative Investments
C. Alternative Investment Products
Fund of Funds (FoF)
Yapı Kredi Bank Fund of World Funds
Yapı Kredi Bank Fund of World Funds, the first such fund in the Turkish
mutual funds market, was established to provide a solution to tax
disadvantages on foreign mutual funds.
The Yapı Kredi Bank Fund of World Funds generally caters to the investment
needs of investors who prefer to invest in foreign exchange-based
investment products and have a long-term horizon regarding investments
in international markets.
The Fund of World Funds invests;
• minimum 80% of its portfolio in mutual funds,
• minimum 51% of its portfolio in foreign mutual funds,
• in securities and mutual funds investing in Western Europe, North
America, Latin America, Eastern Europe and Asia Pacific countries,
• 25-75% of its portfolio in local and foreign mutual funds, investing in
equity and fixed securities,
• 0-40% of its portfolio in euro-based securities and mutual funds,
• 30-70% of its portfolio in US$-based securities and mutual funds,
• 0-40% of its portfolio in TL-based securities and mutual funds.
Yapı Kredi Bank Fund of Commodities Funds
Yapı Kredi Bank Fund of Commodities Funds invests 80% of its portfolio
in mutual funds and 51% of its portfolio in foreign mutual funds which
invest on commodities. The Fund enables investors to access a wide range
of commodities in agriculture, energy, metal and precious metals sectors.
The Fund provides a wide range of commodities horizon including the
commodities in the stock exhange of United States, United Kingdom,
Switzerland, Germany, France, Canada and Turkey.
Key Performance Indicators
Yapı Kredi Bank Fund of
Commodities Fund
2012
2011
2010
Number of Clients
55
-
-
Assets under Management (TL mn)
0.4
-
-
Capital Guaranteed Funds
The Capital Guaranteed Funds (CGF) Unit designs and develops innovative
yet simple and easily comprehensible products that offer value to
clients. The Unit steadily tracks market demands and clients’ needs in
close collaboration with marketing and sales functions as well as with
foreign investment banks to ensure that most appropriate products are
offered through the best research and expertise utilized in their design.
Capital guaranteed funds offer investors who hold the product for the full
investment period, guarantee on their initial investment up to 100% and
gain depending on the change in the value of the underlying instrument
on the final maturity. While deciding on the underlying instruments for
capital guaranteed funds, YKAM utilizes the investment themes, strategies
and expectations of the Company.
The performance of capital guaranteed funds depends on the structure
of the options utilized in addition to the performance of the underlying
instruments. Aiming to increase customer satisfaction, through capital
guaranteed funds, YKAM offers its clients access to different global markets
with different pay-off structures.
YKAM aims to maintain the balance between its investment strategies and
client needs, giving prior importance to performance. The Company always
strives to keep abreast of the competition by offering highly innovative
products and targets to maximize transparency by selecting counterparties
for OTC options.
By courtesy of capital guaranteed funds, YKAM has strengthened its
competitive edge by providing investors access to both local and global
financial markets through a wide range of investment themes with
different maturities.
Key Performance Indicators
Yapı Kredi Capital
Guaranteed Funds
2012
2011
2010
Number of Funds
6
14
11
Number of Clients (thousand)
4
28
13
Assets under Management (TL mn)
72
729
381
Kubilay ÖZALP
Head of Alternative Investments