Russia's Gazprombank Asset Management has launched its first Ucits fund in Luxembourg, the GPB Emerging Europe Equities Fund.
Managed by Moscow-based Rustam Mursalimov, the fund will invest in equities in Russia, the Commonwealth of Independent States, Turkey, Poland, Czech Republic, Hungary and Greece.
Mursalimov says he will focus on companies with strong fundamentals, growth potential, and attractive valuations.
Aylin Suntay, chief executive officer of Gazprombank Asset Management, says there are continuing investment opportunities as local businesses demonstrate improving corporate governance and transparency.
The fund was launched with an initial investment of $50 million (€36.9 million) and is benchmarked against the MSCI EM Europe 10/40.
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