Mutual funds’ return as at 30.04.2015:

From 20 April 2015, changes in the following documents become effective:

The most awaited and significant event of the month for financial markets was the March 17–18 meeting of the Federal Reserve System by which conclusion the market players anticipated the clarification of the Central Bank position regarding terms and the degree of toughening of monetary policy.

In February, in the global financial markets positive trends continued to prevail. The markets of corporate bonds and government bonds of emerging markets continued to recover after December fall while investors preferred risk to quality, therefore credit risk premiums lowered.

January turned to be full of events that may have a long-term impact on the global bond market. Among them, there were the announcement made by the ECB about a new programme of quantitative easing (QE), the depreciation of key interest rates performed by the regulators of several developed countries, the cut of Russia credit rating.

December turned to be a very complicated month in the markets of high-risk corporate bonds and government bonds of emerging countries. The most significant factor that caused a strong sell off in these markets was the continuation of unrestrained fall in oil prices.