Allianz and Sistema further extending their partnership / Rosno now offering full range of Protection, Provision and Performance / High growth potential
(Moscow, 07.10.2004) Allianz and Sistema have merged their asset management activities in Russia in the new company, Allianz Rosno Asset Management. It is a 100 percent subsidiary of the joint venture OJSC Rosno. The operation will offer mutual funds and pension products to private and institutional clients. In addition, the company will manage assets of Rosno and Sistema and also offer this service to third parties.
"Rosno Group is now among the first companies in Russia to offer protection, provision, and performance to our clients from one source", said Leonid Melamed, General Director of Rosno. "I am confident that this will further strengthen the strong position on the Russian market that we have attained already."
With the establishment of Allianz Rosno Asset Management, the partnership of Allianz and Sistema is extended into asset management. The company unifies Dit Ltd. Moscow, the asset manager of Allianz in Russia for private and institutional clients, and Sistema Investments, which managed the assets of Sistema. "ARAM builds on very successful track records and on comprehensive expertise in managing own and third party assets. After the recent launch of Allianz Rosno Life, ARAM perfectly complements our business in old-age provision in Russia", said Hannes S. Chopra, Board member of Rosno and Chairman of the Board of Directors of Allianz Rosno Asset Management. The company aims to become a market shaper in Russia in terms of quality in service, products, advice and long-term performance, and to be among the top 5 non-captive asset managers within the next five years. General Director of ARAM will be Mikhail Khabarov, formerly Chief Financial Officer of Rosno.
Allianz Rosno Asset Management focuses on middle and large private customers and on institutional clients with a long-term investment horizon. The products range from mutual funds based on different investment strategies for private clients to tailor-made solutions for high-net worth individuals and institutional clients. Three open investment funds (equity, bonds, and balanced) are already available.
Rosno Group today is one of the leaders in the Russia insurance market (according to international accounting standards). The company has now completed its product range, offering property and casualty insurance (protection), health and life insurance (provision), and asset management products (performance). ROSNO's major shareholders are Sistema (47%) and Allianz (45%). Sistema is the largest consumer services private sector company in Russia and the CIS. Allianz is one of the major financial service providers worldwide serving more than 60 million clients in more than 70 countries.
AllianzRosno Asset Management
Tel: 231 3120, Marina Samorakova