MOSCOW, January 20, 2014 /PRNewswire/ --
Gazprombank, a leading Russian bank, announces that Gazprombank Asset Management has launched its first UCITS fund. The GPB Emerging Europe Equities Fund ("the Fund") is registered in Luxembourg.
The Fund is managed by GPB Asset Management Luxembourg with Moscow-based portfolio manager, Rustam Mursalimov, acting as the sole investment advisor. The Fund's strategy is to invest in equities in Russia, CIS, Turkey, Poland, Czech Republic, Hungary and Greece with a focus on companies with strong fundamentals, growth potential, and attractive valuation. The Fund's benchmark is the MSCI EM Europe 10/40. It was launched with an initial investment of USD 50m.
Commenting on the appointment, Aylin Suntay, CEO of Gazprombank Asset Management, said: "Our outlook for these countries is positive because of the improving macroeconomic trends of European economies in 2014 and the fact that most markets in these countries are still developing. We see continuing investment opportunities as local businesses demonstrate improving corporate governance and transparency. We believe that our local and regional knowledge and strong analytical process will help us perform strongly and grow our Fund."
Gazprombank has successfully operated in the banking sector since 1990. Founded by the world's largest gas producer and exporter, Gazprom, to provide banking services for gas industry enterprises, Gazprombank has since become a leader in the banking sector, which key performance indicators place the Bank among the top three banks of Russia.
Gazprombank, as a universal financial institution, delivers a wide range of banking and investment services for over 45,000 corporate and about 3 million clients.
About Gazprombank Asset Management
One of the largest Russian asset management businesses, Gazprombank Asset Management group offers a wide range of asset management services to institutional, retail and private investors, both domestic and international. It includes Gazprombank, Management Company "Gazprombank - Asset management", GPB-Asset Management S.A. (Luxembourg) and Omega Trust Umbrella Funds (registered in Ireland).
SOURCE Gazprombank Asset Management