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Gazprombank launches first Ucits fund
27 January 2014
Russian bank's asset management division issues $50m offering
Gazprombank Asset Management
Gazprombank Asset Management has launched its first Ucits offering, the GPB Emerging Europe Equities Fund that is registered in Luxembourg. The fund launched with an initial investment of $50m and its 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 is managed by GPB Asset Management Luxembourg with Moscow-based portfolio manager, Rustam Mursalimov, acting as the sole investment advisor. The Fund's benchmark is the MSCI EM Europe 10/40.
Aylin Suntay, CEO of Gazprombank Asset Management, commented: "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.”