OREANDA-NEWS. On 13 August 2008 was announced, that Ingosstrakh Investments Management Company summarized its semi-annual results. The total size of assets in management increased more than 70%. The size of assets placed in trust management with physical and legal persons grew more than 2.3 times, while NAV of unit investment funds increased 5.9 times. The value of assets in management in the Company as at July 1, 2008 is reported to amount to RUR 10,656,723.

The maximum increase is reported in the segment of retail client assets. In Qt.2 2008 the net asset value of the funds grew more than 6 times. The Company opened 16 regional divisions and arranged sale of unit investment funds through the agency network. The success in the retail sector is primarily caused by the product range offered by the company, which currently consists of 7 standard funds, 6 sector-specific funds, 1 money market fund, 1 index fund and 3 closed-end unit real estate investment funds.

A material inflow of clients was noted in trust management for corporate clients. From the start of 2008 the Company has entered more than 30 trust management contracts, and there have been cash transfers made under a bulk of them. As at July 1, 2008 Ingosstrakh Investments managed the pension reserves of nine non-state pension schemes and pension accruals of other two.

Valery Petrov, General Director of Ingosstrakh Investments:

‘We are quite happy with our 1H 2008 results. It is the successful business strategy and our marketing policy that helped us retain our positions in the market and report a significant increase in the assets we manage. The result has been achieved through the introduction of new optimal and convenient investment products and engagement of new clients in trust management. In June, the Company won a tender to manage the funds of the Fund for the Support of the Reform in the Housing and Utilities Sector. The expected value of relevant assets exceeds RUR6bn. An obvious landmark that crowned the first six months of the year was the award to Ingosstrakh Investments of the highest reliability and service quality rating by Expert RA.  We are definitely going to proceed with our achievement and we hope to be able to stand by the current development rates.’