Gazprombank Asset Management, a Russian-based firm, has unveiled new Luxembourg domiciled UCITS fund, the GPB Emerging Europe Equities Fund.
The fund will be run by GPB Asset Management Luxembourg alongside Moscow-based portfolio manager, Rustam Mursalimov, who will act as the sole investment advisor for the fund.
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The fund will invest in equities in Russia, CIS, Turkey, Poland, Czech Republic, Hungary and Greece with a target companies with strong fundamentals, growth potential, and attractive valuation.
The fund, which was launched with an initial investment of US$50 million, will be benchmarked against the MSCI EM Europe 10/40 index.
Aylin Suntay, CEO of Gazprombank Asset Management, said their 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," Suntay added.
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