OREANDA-NEWS. May 29, 2012. The global financial research company Morningstar has awarded a five-star overall rating to the Citadele Eastern European Bond Fund-USD and a four-star overall rating to the Citadele Russian Equity Fund.

Ratings are awarded for the strong risk-adjusted performance demonstrated by these funds managed by Citadele Asset Management. Since inception, investors in the Citadele Eastern European Bond Fund-USD have averaged a return of 6.9% per year, while investors in the Citadele Russian Equity Fund have averaged a return of 7.6% per year.

„These high ratings from Morningstar give us a true sense of fulfillment for the diligent work performed and are a recognition of the high level of competence at Citadele Asset Management – especially in the capital markets of Eastern Europe and Russia. These achievements confirm that a prudent long-term investment approach is the right choice in the current uncertain economic circumstances. Being active in the markets of many regions, we have accumulated a very strong block of knowledge and experience,” says Vladimirs Ivanovs, chairman of the board of Citadele Asset Management. „Thanks to the work, knowledge and skills of the Citadele Asset Management team we have been able to secure some of the best performance results for our clients in pension and investment fund management, as well as in the management of other investment portfolios.”

The Morningstar ratings are quantitative measures of a fund’s net risk-adjusted performance relative to funds in the same category. The overall rating is a weighted average of three-, five- and ten-year ratings, giving more weight to recent periods. The maximum rating of five stars is assigned to funds that have outperformed 90% of their peers, and a rating of four stars is assigned to funds that have outperformed nearly 70% of their peers. The Citadele Eastern European Bond was compared with nearly 50 other funds, whereas the Citadele Russian Equity fund was compared with more than 100 other funds.

As was previously announced, the Citadele Eastern European Bond Fund – USD was also recognized by the internationally renowned fund research company Lipper, which presented the Fund with the Lipper Fund Award 2012 for the best consistent, risk-adjusted performance over three years in the Emerging Europe Bond Fund category.