OREANDA-NEWS. National Rating Agency has affirmed its reliability rating on Gazprombank-Asset Management CJSC (GAM) at 'AAA with a stable outlook, its stand-alone reliability rating of 'AAA' and its support rating of 'RS1' on the company. GAM was assigned NRA's first-time reliability rating of 'AAA' in December 2009. The rating was reaffirmed each consecutive year. The latest rating update was on Feb. 18, 2015.

The current affirmation of the highest attainable reliability rating is based on GAM's maintained leading market position, increasing assets under management, growing capitalization and earnings generation capacity. The company is well diversified by both business line and customer. The rating is supported by GAM's high business standing, long track record of successful operations in the Russian stock market, opportunity to leverage on the parent's business infrastructure, experience and achievements, strong corporate governance practices and efficiency in the business process and risk management organization.

Wholly owned by Gazprombank OJSC group, GAM is part of the group's trust asset management division, which also includes the Luxembourg-based GPB Asset Management S.A. and GPB SICAV S.A. and Gazprombank's Departments of Investment Management, Portfolio Investments and Trust Management Support. At Dec, 1, 2015, Gazprombank OJSC was among Top-3 Russian banks by equity and net assets, according to NRA's rankings. GAM's key business areas are mutual fund management, and trust asset management for individuals and corporate customers (corporate entities, private pension managers, self-regulated organizations, endowment funds, etc.)