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
The European Commission has approved, under EC Treaty state aid rules, an amendment to a Lithuanian scheme allowing aid to be granted of up to €500 000 per company, initially approved on 8 June 2009.
more »
As agreed by the President of the European Commission and the President of the Russian Federation during the last EU-Russia Summit in Khabarovsk, the EU and Russia have strengthened the current dispositions under the EU-Russia Energy Dialogue to prevent and manage potential energy crises, with an enhanced Early Warning Mechanism.
more »
The European Union has today presented to the World Trade Organization the trade facilitation projects it has financed between 2006 and 2008.
more »
The European Commission has authorised, under the EC Treaty’s rules on state aid, a planned state guarantee by Romania to enable Ford Romania SA to access a loan from the European Investment Bank (EIB).
more »
The economic crisis has left many countries with budget deficits well over the 3% limit. The commission is proposing deadlines for reducing the gaps.
more »
Statistics Lithuania informs that in October 2009, against September, prices for consumer goods and services went down by 0.4 per cent.
more »
Lithuania’s Vice-Minister of Foreign Affairs Šarūnas Adomavičius took part in bilateral political consultations with representatives from foreign affairs, commerce and transport ministries of the People’s Republic of China.
more »
Under the budgetary surveillance powers conferred by the EU Treaty, the European Commission today proposed to the Council to set 2013 as the deadline for the correction of the budget deficits in Austria, the Czech Republic, Germany, Slovakia, Slovenia, the Netherlands and Portugal.
more »
A joint partnership between the World Bank, the Moldovan Ministry of Agriculture and Food Industry and the Ministry of Environment was launched in Moldova’s capital in the late days of October.
more »
World Bank Group President Robert B. Zoellick today joins senior officials from the Government of Singapore to launch a new global urban strategy that will guide Bank advisory services and financing in the sector over the next decade.
more »