Support The Moscow Times!

Sberbank's Asset Management Arm Gets $20M in 2012

The asset management arm of state-owned Sberbank recorded a modest inflow of $20 million last year and expects profits to grow in 2013, director Anton Rakhmanov said Tuesday.

The funds controlled by Sberbank Asset Management were once a part of Moscow brokerage Troika Dialog until it was swallowed up by Russia's biggest lender in 2011.

Rakhmanov attributed Sberbank Asset Management's success in large part to the new reach it enjoys through access to Sberbank's extensive networks.

"The influence of the process of integration with our parent company, Sberbank, was very important," he told reporters. Products linked to the funds are sold through 1,500 local Sberbank branches, he added.

The Troika Dialog name is still used for some of the funds within Sberbank Asset Management, but its final removal is "a question of a few weeks," Rakhmanov said.

A global switch away from bonds and into more risky equity markets should continue in 2013 and boost inflows, Rakhmanov said. And the trend is likely to be helped by monetary easing from the Central Bank.

"We expect a serious lowering of interest rates to take place this year," Rakhmanov said. "The people [at the Central Bank] understand that to maintain such high rates is extremely counterproductive for the development of the economy."

Related articles:

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more