Veles Capital group of companies enters top-5 managing companies by volume of assets in open-end mutual funds under management in 2019
18 May 2019 14:34
According to Kommersant newspaper Veles capital group of companies entered top-5 managing companies by volume of assets in open-end mutual funds under management in 2019.
The total amount of assets in open-end mutual funds managed by Veles Capital group of companies reached 110 million Rubles as of the end of April thus ensuring Veles Capital group of companies 4-th position in the ranking. Open-end mutual funds managed by Veles Management rely on a well developed investment strategies.
Open-end mutual fund "VELES - Conservative Investments" is designed for investments in bonds of leading Russian issuers and open-end mutual fund "VELES - Currency savings" is structured for investments in corporate and sovereign currency bonds.
In April 2019 investors’ interest in financial instruments grew due to the lower interest rates provided by bank deposits, Kommersant notes.
According to “Investfunds”, in April 2019 the net money inflow into open-end mutual funds amounted to 70 million Rubles. At the same time, mutual investment funds with aggressive investment strategies appeared to become the most popular.
Veles Management asset management company was founded in 2004 as a part of Veles Capital group of companies,one of the oldest and largest investment groups in Russia.
Over the years, Veles Management asset management company created under its management 25 mutual investment funds and also signed contracts for managing assets of seven compensation funds and four endowment funds. At the moment, the company manages assets of 11 mutual investment funds including 10 dedicated for qualified investors, as well as two compensation funds and four endowment funds. In 2018, the volume of assets under its management grew by 12% to 7.3 billion Rubles with the amount of the company's own funds having reached 117 million rubles.