WVP Bond is a fund that combines stability and growth potential through carefully selected bonds (debt instruments) from emerging markets. With a focus on moderate risk and disciplined asset allocation, the fund has the potential to deliver returns that can be higher compared with traditional deposits…
Professional management, geographic diversification and automatic reinvestment create a structure that continuously works in your favor.
According to its investment strategy, the fund is primarily intended for investors who do not want to expose their funds to high risk and who want to earn an attractive return on their assets over the medium term.
To realize its investment objective, the Company invests the Fund’s assets primarily in transferable debt securities (short and long term), money-market instruments, and deposits, or in instruments with the same or a similar investment strategy.
At least 60% of the fund’s assets will be invested in bonds of issuers headquartered in emerging-market countries, with or without a recommended investment-grade rating. The remaining portion of the fund’s assets may be invested in bonds of issuers not headquartered in emerging-market countries, deposits and cash in accounts of authorized banks in the Republic of North Macedonia, and investment funds with the same or a similar strategy.
* Figures refer to data as of 31.03.2026
WVP BOND is an open-end investment fund, established with the approval of the Securities and Exchange Commission of the Republic of North Macedonia under Decision No. UP 1 08-80 of 16.12.2016.
The main reasons investors choose the fund are:
This fund is ideal for:
Financial and audit reports for WVP Bond Open-End Fund
The investment policy on which the WVP Bond fund’s portfolio is built carries a moderate level of risk — higher than that typical for money-market funds, while at the same time lower than that of funds investing in equities.
| Risk type | Impact level |
| WVP Bond | |
| Market (Change in:) | |
| securities prices | high |
| interest rates | high |
| exchange rates | medium |
| liquidity risk | low |
| Credit risk | medium |
| Political risk | low |
| Change of tax regulations | low |
| Counterparty risk | low |
| Operational risk | medium |
| Custody risk | low |
As part of the risk-identification procedure, in accordance with the investment policy and the planned investment structure of the funds set out in the fund’s Prospectus, the Company identifies the following investment risks:
Market risk – Depends on the movement of market prices of the securities that form part of the Fund’s portfolio.
Credit risk – The probability that the issuer of a particular security will not be able, fully or partially, to settle its obligations at the time they fall due.
Interest-rate risk – Changes in interest rates may have a positive or negative impact on the value of the Fund’s assets, since most assets will be invested in debt securities and deposits with authorized banks in the Republic of North Macedonia.
Currency risk – arises when the price of one currency changes relative to another.
Liquidity risk – The probability that, at any given moment, the Fund will have difficulty obtaining funds to settle obligations related to the redemption of units, as a result of being unable to quickly sell financial assets at a price approximately equal to their real value — primarily because of unfavourable current market demand.
Political risk – The probability of potential political crises in the countries where the Fund has invested under this Prospectus may lead to a change in the Fund’s assets.
Risk of change in tax regulations – The probability that the legislative authority, in the Republic of North Macedonia or abroad, will change tax regulations in a way that would negatively affect the Fund’s return.
Operational risk – sums up all the uncertainties that are part of the Company’s day-to-day business activities. They may arise from failures in internal processes, human errors, IT, legal and system errors.
The fund invests in debt instruments issued by governments or companies. These instruments pay interest, which is the source of income. Bonds are generally less volatile than equities, which contributes to greater fund stability.
In principle, yes. Bond funds have a lower level of risk and smaller price fluctuations compared with equity funds. However, they are exposed to risks such as interest-rate changes and credit risk, so they are not entirely risk-free.
The return is moderate and typically lower than that of equity funds, but also more stable. It depends on the portfolio structure, interest rates, and the quality of issuers. This type of fund is suitable for investors looking for a balance between risk and return.
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