Sberbank Asset Management has appointed Roman Filatov as managing director, head of equities portfolio management.
TKB BNP Paribas Investment Partners has topped the year to date performance rating of Russian equity funds without a sector focus with its Promising Investments fund.
Yury Belonoschenko has left his position as chief executive at Russia’s Nomos Bank Asset Management to join UralSib Asset Management as chief executive officer.
Index tracking funds in Russia have continued to see outflows. Despite their relatively low risk profile compared to equities, they have failed to attract local investors.
As of January, financial market participants in Russia will no longer have to pay value added tax, which may lead to fee reductions by some service providers.
Last week the Russian stock market attracted more money from investors than its other BRIC peers. Combined with the leading performance of Russia’s indices, this has put Russia in a favourable position for the first time in weeks.
Russian private wealth clients are increasingly looking for various solutions from their private banks that stretch beyond the traditional financial services. These are grouped under the umbrella “lifestyle solutions”.
Sberbank of Russia has hired Vlada Gosal from Bank of America Merrill Lynch (BAML) as managing director for debt capital markets in its investment banking team.
Troika Dialog has appointed Robert Hagon, formerly at Renaissance Capital, as co-head of equity sales trading in its London office.
Pavel Teplukhin has been appointed as chief country officer for Deutsche Bank in Russia. He will assume his responsibilities on October 1, reporting to Stephan Leithner, CEO Europe.
The actions of Europe’s Central Bank and the US Federal Reserve earlier this month have boosted investor appetite for Russia’s mutual funds.
Sberbank of Russia has admitted that Troika Dialog, the investment firm it merged with earlier this year, has suffered accounting losses last year, but since the merger things are looking much brighter.