OREANDA-NEWS. October 27, 2010. Pioneer Investment Management LLC, a Russian company and subsidiary of Pioneer Investments – one of the largest asset management groups in the world, and ZAO Citibank has started a collaboration that would enable the clients of the bank to invest in three open-end mutual funds managed by the company. Federal Financial Markets Service (FFMS) of Russia has registered the respective changes to the funds’ rules, reported the press-centre of Citibank.  

Elena Loginova, Country Head for Pioneer Investments (Russia), noted that: "Cooperation with one of the strongest sellers of investment products is critically important for the future development of the company’s business in Russia. We have a broad range of investment solutions that we are ready to offer to the bank’s clients. We hope that the extensive experience in product development and asset management accumulated by our company would expand investment opportunities for the bank’s clients."

"The signed agreement is part of Citi’s global partnership with Pioneer Investments,” said Sergey Korotkov, Head of Retail Banking at Citibank Russia. – The company brings in many years of successful experience in various financial markets. We hope that our clients will appreciate the professionalism of their asset managers."

PIONEER-Equity Fund, PIONEER-Bond Fund, and PIONEER-Balanced Fund will be offered at 50 branches of Citibank in eight cities.

Other sales agents of Pioneer Investment Management include UniCredit Bank and Credit Suisse (Moscow).