OREANDA-NEWS. December 14, 2007. According to information provided by the Riga Stock Exchange, Parex Russian Equity Fund is the best performing equity fund in the Baltic Fund Centre over both 3-year and 1-year periods, generating annualized returns of 47,92 % and 47,39% respectively (as of November 15, 2007), reported the press-centre of Parex.

Mr. Sergey Medvedev, First Vice President of Parex Asset Management IPAS, commented: “We are very pleased with the results Russian Equity Fund showed in both the 3 year and 1 year periods. The success of the fund is mainly explained by our local knowledge and our deep background in the market through our subsidiary in Moscow, which manages three investment funds in Russia.”

Parex Russian Equity Fund seeks a high level of capital growth by investing in currently undervalued Russian equity securities exhibiting high growth potential. It consists of a diversified array of the most liquid equity holdings representing primarily the telecommunications, metallurgy, utilities and financial sectors. Fund investments may also be made in regional and national companies from the construction, retail, transportation and chemicals sectors of the Russian economy.

Parex Asset Management holds 56,2% of all locally managed investment funds in Latvia as at 30 September 2007. PAM distributes its in-house funds not only in Latvia, but also in Lithuania, Ukraine, Russia, Germany, Sweden and Switzerland.

About Baltic Fund Centre
Baltic Fund Centre is a place, where information about investment fund performance may be obtained. Currently, information about 191-investment fund is available on site. 112 of these funds are registered for public distribution in Latvia. Part of the funds registered for public distribution in the neighbouring countries is available also to Latvian inhabitants by using services provided by the fund distributor representatives.

About Parex Asset Management
With over USD 1 billion assets under management, Parex Asset Management, the subsidiary of Parex banka, is one of the leading investment company in Latvia. PAM offers investment management and advisory services to domestic and international retail, corporate and institutional clients. Through its subsidiaries and representation offices Parex Asset Management also operates in Lithuania, Russia, Ukraine and Kazakhstan.