The total net worth of the National Investment Fund increased by 8.5% in one month, reaching the mark of $2.63 billion, which was due to the revaluation process.
The total net worth of the National Investment Fund increased by 8.5% in one month, reaching the mark of $2.63 billion, which was due to the revaluation process.
As of June 30, the fund's net worth amounted to 31.67 trillion sums or the equivalent of $2.63 billion. This figure is an 8.5% increase from the previous level on May 31. The total value of shares in 13 companies in the UzNIF portfolio was estimated at $2.66 billion.
NAV (Net Asset Value) represents the fund's net worth after deducting all its liabilities from the total asset value. An increase in NAV does not mean that more new funds have entered the fund or that stocks have risen by exactly 8.5%. According to UzNIF data, the main reason for the increase was the revaluation of companies that are either not listed on the stock exchange or have low liquidity. Furthermore, forecasts regarding their future activities and financial results were updated.
The most significant positive contribution came from companies such as 'Uzbekistan National Electric Networks' (by 5.2%), 'Uzbektelecom' (by 4.5%), 'Heat Power Plants' (by 3.5%), 'UzSanoatConstructionBank' (by 1.2%), and 'Regional Electric Networks' (by 1%). It should be noted that the growth in the value of 'Uzbektelecom' was related to improved profitability and revenue indicators. Energy enterprises benefited positively from the implementation of a new tariff model and updated financial forecasts.
The UzNIF portfolio includes stakes in thirteen major Uzbek companies. The five largest assets account for 71.59% of the fund's NAV. For reference, UzNIF manages stakes ranging from 25% to 40% in large state corporations. The fund is overseen by the trustee Franklin Templeton. The fund's shares are traded in Tashkent, and its GDRs (Global Depositary Receipts) are listed on the London Stock Exchange.
The total assets of banks in the Eurasian Economic Union (EAEU) countries have reached $2.9 trillion.
The most significant growth was recorded in Kyrgyzstan, where bank assets increased by 47.8%, amounting to $13.9 billion.
Russia ranked second in this list: its bank assets grew by 37.3% and reached $2.7 trillion.
The Eurasian Economic Union (EAEU) is an international economic association that has been operating since January 1, 2015. Currently, the members of the Union are Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Uzbekistan obtained observer status in the EAEU in 2020. Moldova, Cuba, and Iran also hold observer status.
