UFS IC trusts in Gazprom eurobond, NLMK and UkraineUFS Investment Company considers that in a current situation the investment portfolio should consist of Open Society eurobonds “ Gazprom “ Open Society “ NLMK “ and also sovereign eurobonds of Ukraine. Besides, it is recommended to include Open Society actions in a portfolio “ a Mechel “ (the long-term forecast of growth - 40 %) and shares of Gold fund (the forecast on profitability - 35 %).
According to analysts, corporate news, growth potential, term of the reference of these securities, and also market condition do investments in the specified tools by the most attractive.
among eurobonds of Gazprom of analytics recommend to pay attention on “ long “ papers Gazprom - 34 and Gazprom - 37. Thanks to higher volatilnosti such papers in the conditions of a positive conjuncture show advancing growth. Predicted growth of papers Gazprom - 34 and Gazprom - 37 makes a minimum nearby 3 - 4 % in the nearest some weeks.
also experts pay attention to sovereign papers of Ukraine, in particular release Ukraine - 17. Demand for brave actives of the CIS countries now remains strong. At the same time release of Ukraine - 17 is essentially underestimated concerning own curve. Analysts would expect profitableness falling in release at least on 30. The item that assumes growth of the price on 2,5 - 3 % in intermediate term prospect.
Besides, analysts recommend to include in a portfolio Open Society eurobonds “ NLMK “ repaid in 2019ã., which now bargain with profitableness of 5,05 % annual. High credit quality of the emitter and “ long “ a duration also can promote strong demand for release in the near future.
as to actions “ a Mechel “ experts notice that improvement perception of shares of company in the market. Not so long ago the company declared global sale of actives in Russia and abroad. Also the emitter considers a variant of sale to 25 % of actions “ a Mechel - Majninga “ to the strategic partner for acceleration of development of the Elginsky deposit (stocks - 2,2 mlrd t coked coal).
Itself “ a Mechel “ wants to concentrate on mountain extraction and metallurgy of a full cycle with accent on manufacture “ long “ hire and production with the high added cost. Analysts UFS IC estimate the given decision positively as it substantially reduces uncertainty concerning prospects “ a debt overload “ the companies and essentially reduces risks of a default.
we will remind, “ to a Mechel “ it is necessary to extinguish an order 2 mlrd debts dollars till the end of the year. As a result in current quotations the extremely negative expectations, therefore loss of a part of actives - quite pertinent payment for elimination of this negative are already put. And as soon as the sharpness of a problem with a debt will decrease, to company quotations the way upward will be opened.
Speaking about raw actives, analysts notice that recently they show attractive results are is caused by a growing demand. Most popular of raw actives is gold. Investors consider this metal in quality “ smooth water “ and a way to hedge risks.
the fund of direct investments in rossypnye gold deposits UFS Gold gives the chance to enter into highly profitable gold mining business. The fund serves as the tool of alternative investments for conservative investors and allows to hedge instability of prices on securities. The investor actually gets diversifitsirovannyj a pool of gold mining actives, essentially reducing operational risks.
the Cost price of projects makes USD/ OZT 850. The settlement price put in fund for profitableness of 35 % annual - USD/ OZT 1200. The investor earns on a difference between the cost price of extraction and by gold sale in the commodity markets. According to the forecast, the price for gold for the end 2012ã. Makes 1750 - 1800 dollars
the Investor of fund can on the security to 50 % of shares (operation REPO) to participate at primary auctions of eurobonds. Thanks to investments into short-term ideas and participation in fund of direct investments, the investor receives marzhinalnyj the income of Gold fund, profitableness of growth of the price for gold, a hedge of risks volatilnosti, possibility of short-term participation in the primary market of placings. Potential profitableness at such scenario of investments can be limited only by passivity of the investor.
fact-finding character, edition have the market ideas Offered in article and UFS IC do not bear responsibility for the independent investment decisions made by players. All recommendations of analysts UFS IC are given exclusively in an information order and are not the offer on carrying out of operations on a securities market.