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Yapı Kredi Asset Management Annual Report 2012
30
D. Mutual Funds
Managing 40 mutual funds, YKAM Mutual Funds (MF) Unit aims to ensure
consistently positive return above the pre-specified benchmarks for
each fund at minimum risk. Mostly composed of finance professionals
with strong research background, the Unit has a clear edge over the
competition in asset selection and active portfolio management. Thanks to
its high volume of transactions, the MF Unit is able to work with relatively
lower transaction costs and reflect this advantage directly to investors.
Mutual Funds
Cutting-edge In-house Research
Research and fundamental analysis is the backbone of the asset selection
process for YKAM mutual funds.
For equity funds, the Unit utilizes both top-down and bottom-up
analysis. Utilizing third party research services as well, YKAM also prepares
proprietary in-house research through company visits and analyses on
selected companies’ business models, financial performance and growth
opportunities. The valuation models formed through such researches
establish the basis of the portfolio management process.
Wide Range of Products for Each Client Profile
YKAM mutual funds serve the needs of various investor profiles. While
risk-tolerant investors who are in pursuit of higher returns prefer equity
and fixed income growth funds, risk-averse investors mostly prefer money
market, capital guaranteed and fixed income funds. On the other hand,
“qualified investors” tend to invest in YKAM Hedge Fund, which allows
investors simultaneously to invest in different financial instruments and
aims to deliver positive returns in all market conditions through active
buy-sell strategies.
Strict Risk Management Standards
The Unit keeps a very close watch on variance limits and takes decisive
actions on breach of pre-defined stop-loss limits. The in-house risk
management software is pivotal to all risk management activities. The Unit
also works very closely with the Risk Management Department.
Key Performance Indicators
Mutual Funds
2012
2011
2010
Number of Funds
40
40
37
Number of Clients (thousand)
500
486
487
Assets under Management (TL mn)
4,942
4,977
5,696
Investment funds launched in 2012
Fund
Launch Date
Yapı Kredi Bank IMKB Dividend Index Sub-Fund
20.01.2012
Yapı Kredi Bank Private Sector Focused Variable Sub Fund
25.01.2012
Yapı Kredi Bank Fund of Commodities Sub Fund
26.01.2012
Yapı Kredi Bank Variable Dealers Network Fund
27.02.2012
Yapı Kredi Bank Idea Model Portfolio Equity Fund
05.06.2012
Yapı Kredi Bank Agressive Equity Fund
06.06.2012
Yapı Kredi Bank Fixed Income Short-Term Bonds and Bills Fund
09.07.2012
Yapı Kredi Invest Fixed Income DPM Absolute Return Fund
20.07.2012
Investment funds redeemed in 2012
Fund
Redemption Date
Yapı Kredi Bank Allianz Private Equity Fund
16.05.2012
Gökhan BİLEN, PhD, CFA
Head of Equities and Quantitative Analysis
Products and Services
Mutual Funds