Parex Assets Management (PAM), an asset management company owned by Parex Bank, has established a subsidiary in Ukraine, Parex Asset Management Ukraine, to launch the fund management operations there by the end of the year
Published:
6 September 2004 y., Monday
Parex Assets Management (PAM), an asset management company owned by Parex Bank, has established a subsidiary in Ukraine, Parex Asset Management Ukraine, to launch the fund management operations there by the end of the year.
Parex Asset Management head Roberts Idelsons told BNS that PAM raised its share capital to 1.7 million lats (EUR 2.57 mln) in connection with establishing the subsidiary. He said the company invested 700,000 euros in the share capital of the Ukrainian subsidiary.
Idelsons said the company in Ukraine will launch operations after it gets the license which might take place before the end of the year. PAM in Ukraine wants to deal with management of investment and pension funds.
He said PAM decided to establish the subsidiary in Ukraine as part of implementation of its expansion strategy. Ukraine was chosen for the purpose as it has a prospective market, an ongoing pension reform, growing economy and developing a globally interesting market. “We want to build our base in Ukraine in due time”, he said.
Asked about rivals Idelsons said there are some local companies in Ukraine but they are relatively small while no foreign companies companies are present there. He said PAM can cooperate with many partners in Ukraine, including companies, banks, insurance companies.
At present PAM has operations in Moscow and Kiev and for the time being has no plans for further expansion.
Šaltinis:
Parex Bank
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
An International Monetary Fund mission led by Mr. Paulo Drummond visited Bissau during January 12-27, 2010, to discuss the government’s medium-term economic program that could be supported by the IMF under the Extended Credit Facility.
more »
The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support US$1.9 billion in debt relief for the Republic of Congo, which includes US$255.2 million of debt relief from the two institutions.
more »
In 2009, net external assets of Monetary Financial Institutions remained negative but increased by LTL 9.3 billion.
more »
Spain's Minister for Science and Innovation, Cristina Garmendia, supports making R&D+i at the heart of Europe as a key to economic recovery.
more »
Lithuania and Malta granted reprieve on budget deficits; Hungary and Latvia on track to meet deadlines.
more »
More responsibility for fishermen, rules favouring good fishing practice and adjusting fisheries management models to complement and improve the traditional quota system should be among the key aims of common fisheries policy reform, say MEPs in an own-initiative report approved by the Fisheries Committee on Wednesday.
more »
On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.
more »
On January 22, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Norway.
more »
Agriculture can help to slow climate change, but should be ready to adapt to the impact of global warming, said Agriculture Committee MEPs and scientists at a public hearing on Wednesday.
more »
The Ministers for Employment of the European Union are holding an informal council on Thursday 28 and Friday 29 January which will lay the foundations for drawing up the common policies in the area of employment which the European Union will adopt over the next ten years as part of the “2020 Strategy”.
more »