The international investment fund information and research company, Lipper, has declared the Citadele Russian Stock Fund which is managed by IPAS Citadele Asset Management to be the best fund in its category among European-registered funds in 2013 in terms of its profitability and risk relationship over the past three years.
“Among developmental countries, Russia has one of the largest and most important stock markets in the world,” says the manager of the Citadele Russian Stock Fund, Eļčins Džafarovs. “Given the substantial amounts of money which circulate in this market, there are dozens of funds which specialise in investments in Russian stocks. Competition among fund managers is substantial, and in terms of the quality of management services, Citadele Asset Management competes with the largest and best-known brands in the global investment arena. This independent and international recognition shows once again that the years of experience which Citadele Asset Management specialists have in Eastern European capital markets is turning into tangible investment results for our clients.”
In 2012 Lipper declared the Citadele Eastern Europe Bond Fund USD to be the best fund in its category.
Lipper is a subsidiary of the Thomson Reuters enterprise, and it is one of the leading companies in the world when it comes to the correlation of information, research and ratings related to international investment funds. Lipper’s recognition is recognised throughout the world as a sign of excellence by fund managers and professional investors. The methodology which it uses emphasises the relationship between profits and risks, thus emphasising funds which merge powerful increases in value with strict risk management.
The Citadele Russian Stock Fund was compared to 24 other funds in the study. Lipper evaluated all of the Russian stock funds that are registered in Europe, have the UCITS status, are registered for sales in at least three European countries, and have at least three years of experience. The UCITS status is determined by a European Union directive which speaks to equal laws throughout the EU for open investment funds.
About Citadele Asset Management
Citadele Asset Management is a subsidiary of the Citadele Bank and one of the leading investment management companies in the Baltic States. Citadele Asset Management offers asset management services for local and international clients – individuals, corporate clients, investment funds, second and third-level pension plans, and insurance companies. Investment funds have been registered for public distribution in the Baltic States, Sweden, Switzerland and Germany.
About Citadele Bank
Citadele is a local Latvian bank, which offers banking, financial and asset management services. Citadele group is represented in the Latvian market as well as in 9 other countries. Citadele Bank is the only collaboration partner of American Express® in Latvia and Lithuania who is entitled to issue American Express credit cards. In 2012 the bank was recognized as the best governed state-owned enterprise in the Baltic States according to a study conducted by the Baltic Institute of Corporate Governance. Citadele’s vision is to become the most valuable local financial group in the Baltic States. 75 % minus one Citadele Bank’s shares are possessed by the State Joint Stock Company Privatization agency on behalf of the Latvian State and the owner of 25 % plus one share is the European Bank for Reconstruction and Development (EBRD).