OREANDA-NEWS. November 18, 2011. Deutsche Bank AG (XETRA: DBKGn.DE / NYSE: DB) and UFG Asset Management Ltd. (UFG AM) today announced that Deutsche Bank, through its Asset Management division, will fully acquire Deutsche UFG Capital Management. Deutsche UFG Capital Management was formed in 2008 when Deutsche Bank acquired a 40 percent stake in UFG Invest, the Russian investment management company of UFG AM.

Ranked by Assets under Management Deutsche UFG Capital Management is one of the top 10 players in the Russian asset management industry and the largest independent provider of mutual funds*.The product range includes investment funds and discretionary portfolio management for private and institutional clients.

With this transaction Deutsche Bank’s retail asset management business further strengthens its footprint in Russia, one of the most important growth economies in the world. At the same time this step enables Deutsche Bank to provide its clients with a better access to investments into the Russian market.

Igor Lojevsky, Chief Country Officer of Deutsche Bank Russia, said: “Deutsche Bank acted early to become a leading player in top tier financial services in Russia, a market we see growing over the long term. The acquisition of UFG’s investment banking business in 2004 was a decisive step forward in that process, and today’s transaction further strengthens our role in Russia.”

Florian Fenner will continue his role as Chairman of Deutsche UFG Capital Management and join the Deutsche Bank Russia Regional Executive Committee with a regional reporting line to Igor Lojevsky. Florian Fenner believes that: “Being part of Deutsche Bank Group will allow Deutsche UFG Capital Management to offer its customers a wider range of investment products. Affiliated to such a large multi-national player, we will be able to take the company to an international level. The completion of the transaction confirms our intention to grow and strengthen the position as well as our confidence in the prospects of the Russian financial market.”

All parties involved have agreed that financial terms will not be disclosed.