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News
October 29, 2008
New strategy for METROPOL Asset Management Company announced at RIA Novosti press conference
M.V. Slipenchuk, the head of METROPOL Group and Director General
METROPOL AM, A.E. Rabinovich Managing Director of METROPOL AM and
M.Yu. Borzin, Deputy Director General IFC Metropol on Public and
Corporate Relations took part in the press conference “New
development strategy for Metropol Management Company” which took
place at RIA Novosti.
Participants of the press conference spoke about the reasons for
the staff changes which have taken place in METROPOL AM, and
acquainted those attending with the new development strategy for
the company during the financial crisis.
M.V. Slipenchuk analysed in detail the situation which has
developed in the Russian and world financial markets. He noted that
of the fall in the share market has affected METROPOL to a lesser
degree than other market players. “Several years ago, we understood
that there could not be long-term growth in the share market, and
therefore changed our strategy of behaviour in the market and
differentiated our activity. We excluded investments of our own
funds in securities,” he said.
In addition to its own investment bank activity, METROPOL Group is
engaged in direct investments into real estate, the development of
polymetallic deposits and tourism, M.V. Slipenchuk has said. “The
fall which is affecting the share market now has virtually passed
by METROPOL Group. The majority of our assets today are commercial
real estate. The only thing that concerns us is the liquidity in
the financial market,” he concluded.
In his turn, A.E. Rabinovich, having said that from 7 October to 28
October share investment funds under the control of METROPOL AM
performed better in comparison with the whole structure of the
market, especially noted: “We have two large funds: Metropol Golden
Fleece share fund and Metropol Athena mixed investment fund.
According to all available information, today the Metropol Athena
fund has performed 9.8% better in comparison with the whole
structure of the market, and Metropol Golden Fleece fund by 5.45%.”
In addition, the Metropol Athena fund performed 9% better than the
RTS index, and Metropol Golden Fleece fund by 15%, he added.
The improvement of parameters is connected with the change in
investment strategy of the company, Rabinovich emphasized. “We have
rearranged portfolios and, having left less liquid shares and bonds
of the second and third levels, have shifted securities to blue
chips,” he explained.
Those gathered were shown the new development strategy for METROPOL
AM which includes:
• Active interaction with state corporations and management of
their funds;
• New approaches to cooperation between METROPOL AM and
private pension funds;
• Increase in the quantity private pension funds under
METROPOL AM control;
• Expansion of cooperation with Japanese partners, entry to
other international markets;
• Participation in development of a federal state development
programme for the market of collective investments in the Russian
Federation along the line of “Concepts of long-term socio-economic
development in Russia up to 2020,” approved by the Russian
Government.
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