OREANDA-NEWS. On 21 April 2009 was announced, that among the positive factors contributed to rating conformation the agency experts pointed out: high level of corporate management, high quality of risk management and internal control system: “The company manages risks and controls them through investment and financial committee, diversifies risks through division them on different investment projects. The company attracts additional resources within the group for legal support and projects evaluation thus providing the very high level of financial instrument’s quality. The risk management system was re-launched in correspondence with current hard situation on financial markets, the limits on issues and counterparts were revised.

The analysis of Veles Management financial report showed that “the company has stable capitalization, income, high balance liquidity and no debts".

Veles Management specializes on real estate investments. The company portfolio consists of commercial properties and land development projects. The company financed construction projects in Moscow region, holds several large tracts of land. The real estate projects are structured in closed-end mutual funds. The assets of these funds (5 funds as of 31.12.2008) form 85% of all assets under company’s management.

Veles Management has been operating on the Russian financial market since 2004 as part of Veles Capital group of companies. Veles Capital group consists of: Veles Capital IC (has been operating since 1995 and is rated amongst TOP-10 of largest Russian investment companies), Veles Capital Development (manages construction and development programs in Russia and abroad), Veles Lex (law consulting), Veles Personnel (HR-consulting), subsidiary companies in Ukraine and Cyprus.

Veles Management had firstly received reliability rating in September 2006 (“A” with positive forecast). In June 2007 rating was increased till “A+” – high reliability, first level.