Troika Dialog president Pavel Teplukhin estimates the financial capacity of Japanese investors in the tens of billions of dollars.
Photo: Shaposhnikov Vasiliy
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Troika Dialog Creates Japanese Fund
Troika Dialog will be the first Russian asset management company to create an open investment fund in Japan. The Shinsei Troika Russia Fund will be set up in conjunction with Shinsei Bank Ltd. of Japan. That fund will be available to investors through open subscription that will take place May 12-29. Shinsei Bank will continue to sell stock in the fund after that. Russian companies Solid Management and Metropol created investment funds earlier, but they were available only to a limited circle of investors.
The Shinsei Troika Russia Fund plans to attract $100 million in the first year to invest in Russian stocks. Troika Dialog is the third largest Russian management company. Its assets as of the beginning of the year totaled 115.3 billion rubles. Shinsei Bank was created in 2001 as a result of the bankruptcy of Long Term Credit Bank. It was subsequently privatized by a group of foreign investors led by the American Ripplewood Holdings. It is one of the three largest banks in Japan. Its assets at the beginning of the year were $104 billion.
There is about $1 billion in Japanese portfolio investments in Russia now. The Japanese invest very actively, however, they have a very conservative attitude toward foreign companies. That situation is ameliorated by the fact that a Japanese bank will collect the money for the fund.
www.kommersant.com
All the Article in Russian as of May 06, 2008
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