Ukraine stock index PFTS gained 97% (YTD).

Last week I wrote post about best performing markets for first 6 months 2007 http://stockweb.blogspot.com/2007/07/what-is-best-performing-stock-market.html
The winner is Ukrainian stock index PFTS with 97% (volume is falling rapidly; half of the volume year ago). Boarder index KAC 20 is with similar performance.

Let me today indroduce instrument for investment. You hardly find ETF or CEF. But still there are some certificates at EUWAX which you can trade in Stuttgart. If you are risk averse, S-BOX Ukraine index certificate (ISIN DE000DBIUKR2) is consist of 8 major shares. Dividends are included, spread is quite high (2%) and managerial commission 1.8%.