Renaissance Investment looks to riches of the CIS
Jason Corcoran (September 7th, 2008) Writes:
Business New Europe Jason Corcoran in Moscow September 1, 2008Andrei Movchan, founding chief executive and co-head of Renaissance Investment Management (RIM), is banking on his bulging Rolodex of rich clients to help his firm emerge from the long shadow cast by its investment banking stable-mate, Renaissance Capital.
RIM, the emerging markets fund arm of the Moscow-based financial group, has racked up $7bn in assets under management since its inception of 2003, with $5bn in assets being generated by its wealth management business, where individual accounts range from $3m-5m. This significant proportion of high net worth clients is in contrast to the more modest growth in mutual funds, where RIM manages just $200m. Conversely, rival Troika Dialog Asset Management has a total of $10bn in assets under management in retail, ...
RIM, the emerging markets fund arm of the Moscow-based financial group, has racked up $7bn in assets under management since its inception of 2003, with $5bn in assets being generated by its wealth management business, where individual accounts range from $3m-5m. This significant proportion of high net worth clients is in contrast to the more modest growth in mutual funds, where RIM manages just $200m. Conversely, rival Troika Dialog Asset Management has a total of $10bn in assets under management in retail, ...


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