OREANDA-NEWS. June 1, 2012. Veles Capital IC reported operating results of 2011. According to the company’s nonconsolidated financial report, prepared by Russian Accounting Standards (RAS), Veles Capital’s retained earnings increased by 26% and exceeded 882 mln RUB (30 mln USD). Net profit exceeded 185 mln RUB in 2011.

Net assets reached 2 bln RUB (68 mln USD) increased by 11% compared to 1,8 bln RUB (61 mln USD) in 2010. The company’s share capital formed 1,15 bln RUB (37,9 mln USD).

Total turnover of securities came to 5,5 trln RUB (187 bln USD), providing the company's presence in the TOP-10 largest operators on securities market (RBC.Rating).

Veles Capital’s turnover in stock market formed 2,5 trln RUB (85 bln USD). The company is rated amongst TOP-10 largest stock market operators (RBC.Rating).

Promissory notes market turnover formed 1,3 trln RUB (43,9 bln USD) and, therefore, Veles Capital was rated the leader of the market, taking 58% of total promissory notes turnover in Russia (RBC.Rating).

Bond market turnover increased by 25% to 1,7 trln RUB (58 bln USD). The company is rated amongst TOP-5 of largest investment companies by bond market turnover (RBC.Rating in 2011).

Casting up to 2011, Alexey Gnedovsky, Veles Capital CEO, noted that "the company was able to show good results despite challenging market conditions". He added: "We continue developing in accord with the adopted strategy, increasing activity in all areas of investment companies. We have started this year with an internal reorganization, which in particular should lead to strengthening our position at the brokerage".

Veles Capital IC has been operating in Russian fund market since 1995, providing major private and corporate investors services on securities market, in direct and real estate investment. Veles Capital brand name unites investment companies in Russia, Ukraine and Cyprus, asset management and development companies, etc.