KIEV, Jan. 26 – Ukrainian mutual fund shares fell an average 30.96% in 2008, according to a survey by the Ukrainian Association of Investment Business.

The association says that SEB Fund Financial Market showed the smallest losses (a 6.41% fall).

Parex Ukrainian Balanced Fund was among leaders in fall of the Net Asset Value (NAV) (minus UAH 204.49 million, or an 82.8% fall), and the fund's investment certificates' placement among investors fell by 70.68%.

Classical Fund showed a slump in its NAV in absolute and relative terms (minus UAH 66.34 million, or a 61.05% fall). Concorde Stability Fund showed minus UAH 24.55 million or a 94.33% fall. The number of certificates in the funds dropped by 39.4% and 86.04% respectively.