Russia’s Sberbank mandates Accelerando Associates to market funds to European investors
Sberbank Asset Management, formerly Troika Dialog Asset Management, has mandated Frankfurt-based Accelerando Associates to market Russian equity and Russian fixed income funds to institutional investors in Germany and other European jurisdictions.
The funds were launched in April, and Sberbank seeded each fund with $50m.
The equity fund invests in a diversified portfolio of Russian equities, including blue chip, mid- and small-cap stocks, and sources the best ideas from the company’s existing strategies.
The fixed income fund invests in a portfolio of rouble-denominated sovereign, municipal and corporate bonds.
The Russian investment case is mostly driven by fiscal strength, strong growth, huge natural resources and a rapidly growing middle class, the firm said.
“Russia has demonstrated a strong recovery with 4.3% real GDP growth over the last two years and has the lowest debt / GDP-level worldwide. Sberbank Asset Management has continuously been recognised as one of the leaders of the Russian asset management market,” said Anton Rakhmanov, chief executive of the firm.
Sberbank AM is Russia’s largest bank with 26% of aggregate banking assets and 48% of retail deposits. Sberbank has the largest distribution network in Russia with over 19,000 offices as well as subsidiaries in 20 countries including the CIS, Central and Eastern Europe and Turkey.
Accelerando Associates is a European fund distribution consultant with offices in Frankfurt, London and Valencia, headed by Philip Kalus (pictured).