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 percent 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 and the largest independent provider of mutual funds*.The product range includes investment funds and discretionary portfolio management for private and institutional clients.
With this transaction Deutsche Bank’s retail asset management business 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 Deutsche Bank Russia Regional Executive Committee with a regional reporting line to Igor Lojevsky. 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.
For further information, please call:
Dimitri Agishev (Deutsche Bank) +7 495 797 5026
Kristina Artemova (Deutsche UFG Capital Management) +7 495 721 1212
Klaus Winker (Deutsche Bank) +49 69 910 32249
About Deutsche Bank Group
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.
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.
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 of 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.
Closed joint stock company «United Financial Group INVEST» (ZAO «UFG INVEST»). acting under the brand name of Deutsche UFG Capital Management. License number 21-000-1-00012 of 31 October 1996 for managing investment funds. mutual funds and non-state pension funds. issued by the Federal service for financial markets; License of a professional securities market participant number 077-07260-001000 of 19 December 2003 for managing of securities. issued by the Federal commission on securities market.
Terms of trust management of Open mutual funds shares (or Open mutual fund of shares) «Pyotr Stolypin» registered by FCSM of Russia 6 December 2002 for number 0009-46349328-11. Terms of trust management of Open bond unit investment fund (or Open mutual fund of bonds) «Russian Bonds» registered by FCSM of Russia 6 December 2002 for number 0018-47358080-20. Terms of trust management of Open mutual fund of mixed investments «UFG INVEST - Balanced» registered by FSFM of Russia 25 July 2006 for number 0568-94120101. Terms of trust management of Open mutual funds shares (or Open mutual fund of shares) «FUND 2025» registered by FSFM of Russia 2 October 2007 for number 01009-94131352. Terms of trust management of Open mutual funds shares (or Open mutual fund of shares) «INFRASTRUCTURE» registered by FSFM of Russia 2 October 2007 for number 1008-94131435.
Before you buy a share. you should carefully read the terms of trust management of mutual funds. You can get the detailed information about the mutual funds and get acquainted with the terms of trust management of mutual funds. as well as the other documents: (i) in the office of ZAO «UFG INVEST» at the address: 107031. Moscow. Petrovka st.. 5. tel. (495) 721-12-12; (ii) in the Internet: http://www.ufginvest.ru/ and http://www.ducm.ru
The value of investments may go down as well as up. Past performance is not indicative of future results. The Russian government does not guarantee any return on investments in mutual funds. Collection of premiums / discounts reduces the profitability of investments in mutual funds.