Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) and UFG Asset Management Ltd. (UFG AM) today announced that Deutsche Bank, through its Asset Management division, will fully acquire Deutsche UFG Capital Management. Deutsche UFG Capital Management was formed in 2008 when Deutsche Bank acquired a 40 per cent stake in UFG Invest, the Russian investment management company of UFG AM.
Ranked by Assets under Management Deutsche UFG Capital Management is one of the top 10 players in the Russian asset management industry.* The product range includes investment funds and discretionary portfolio management for private and institutional clients.
With this transaction Deutsche Bank’s retail asset manager, DWS Investments, further strengthens its footprint in Russia, one of the most important growth economies in the world. At the same time this step enables Deutsche Bank to provide its clients with a better access to investments into the Russian market.
Igor Lojevsky, Chief Country Officer of Deutsche Bank Russia, said: “Deutsche Bank acted early to become a leading player in top tier financial services in Russia, a market we see growing over the long term. The acquisition of UFG’s investment banking business in 2004 was a decisive step forward in that process, and today’s transaction further strengthens our role in Russia.”
Florian Fenner will continue his role as Chairman of Deutsche UFG Capital Management and join the DB Russia Regional Executive Committee. Florian Fenner believes that: “Being part of Deutsche Bank Group will allow Deutsche UFG Capital Management to offer its customers a wider range of investment products. Affiliated to such a large multi-national player, we will be able to take the company to an international level. The completion of the transaction confirms our intention to grow and strengthen the position as well as our confidence in the prospects of the Russian financial market.”
All parties involved have agreed that financial terms will not be disclosed.
*Data source: www.investfunds.ru
For further information, please call:
Press & Media Relations
Klaus Winker + 49 69 910 32249
Dimitri Agishev +7 495 797 5026
Kristina Artemova + 7 495 721 1212 (Deutsche UFG Capital Management)
Anke Hallmann + 49 69 71909 4546 (DWS)
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a substantial private clients franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates. www.db.com
Deutsche Bank Ltd. (Deutsche Bank Russia) was established in April 1998. The Bank is a wholly-owned subsidiary of Deutsche Bank AG. Deutsche Bank has become one of the largest foreign banks in Russia. Deutsche Bank Russia provides local and international, corporate and private clients with a broad range of financial services, comprising corporate finance and advisory, sales, trading, transaction banking as well as private wealth management and asset management services. The bank includes the largest Russian and multinational companies among its client base. www.db.com/russia
About DWS Investments
DWS Investments is the mutual fund arm of Deutsche Asset Management, being with EUR 135 bn. AuM1) the largest mutual fund company in its home country, Germany, with EUR 203 bn. AuM number three of the leading retail mutual fund companies across Europe2) and with EUR 281 bn. within the top 10 globally3). Founded in 1956, DWS’s activities span not only the European markets. Over the last few years, the DWS Investments brand has been rolled out to cover countries and products across the Americas and Asia Pacific. Leading positions in rankings of independent fund rating agencies and consistently awarded prizes confirm the sustainable success and the outstanding performance of DWS.
1) BVI, August 31, 2011; incl. DB products
2) Lipper FMI, June 30, 2011; incl. DB products, excl. JV AuM
3) Lipper FMI (Europe), Simfund (US, Asia, Australia); June 30, 2011. European figures incl. DB products, excl. JV AuM
About Deutsche UFG Capital Management
The Asset Management company ZAO «UFG INVEST» as part of UFG Asset Management was established in 1996. Following the signing of a strategic partnership with Deutsche Bank in 2008, the name Deutsche UFG Capital Management formed.
Now Deutsche UFG Capital Management is one of the leaders in the collective investment and asset management. As of 30 June 2011, the company's clients are about 30 thousand individual investors, large pension funds and insurance companies. The amount of assets under management is more than EUR 370 million.
The company offers its customers various investment strategies, including five open-end mutual funds of different management strategies and risk-return ratio. The flagship fund Peter Stolypin regularly takes the leading position in the rankings of mutual funds in return and is in top 5 of all retail mutual funds for net asset value.
DUCM has two offices in Moscow and St. Petersburg and the widely developed agency network through which offers its services to more than 320 Russian cities.
The company has the rating in AAA (the highest) reliability category assigned by National Rating Agency. www.ufginvest.ru