OREANDA-NEWS. December 10, 2013. The international financial research company Morningstar has awarded its highest rating of five stars to the Citadele Russian Equity Fund, which is managed by IPAS “Citadele Asset Management”.

The five-star rating is higher than that of 90% of the fund’s competitors. Citadele Asset Management is a subsidiary of Citadele Bank, and it won recognition for the high and stable level of profitability in its category in terms of the fund that it manages.

“We are proud of the fact that we can offer high-quality investment services to our clients,” says the governor of the Citadele Russian Equity Fund, Elcins Dzafarovs. “This prize offers additional international recognition to Citadele, and it once again confirms the effectiveness of our long-term investment strategy.”

The Citadele Russian Equity Fund has received other international prizes. The international investment fund information and research company Lipper declared it to be the best European fund in 2013 in terms of a three-year look at Russian shares. Morningstar has granted a four-star rating to the fund for the past four years.

The Citadele Russian Equity Fund was established in 2004 and is focused on long-term capital growth by investment resources in Russian companies which the fund’s governors have selected – ones which have the greatest growth potential. Currently there are shares from 32 companies in the investment portfolio, and since the fund’s launch on October 31, 2013, the value of the Citadele Russian Equity Fund has increased by an average of 8.7% a year.

The international financial research company Morningstar is one of the best-known companies in the world when it comes to investment fund data, research, results and analysis. The company currently correlates data about more than 435,000 investment products, and for nearly 30 years now, good ratings from the company have been a widely recognised sign of excellence in the area of investment management. It is very much appreciated by professionals in the sector.