CEO’s Letter on the Results of 2017
Dear clients and partners of TKB Investment Partners,
Please accept my sincere congratulations on the New Year 2018! On behalf of the entire Company, I would like to wish health and prosperity to you and yours!
Allow me on this occasion to thank you for being with us this year and to summarize operational achievements of TKB Investment Partners in 2017.
In 2017 the Company celebrated its 15 years in business and the anniversary year proved to be especially successful as we reached record levels in assets under management, enhanced our clientele and launched a number of new products.
Our assets under management and advisory grew to the unprecedented RUB 472 bln while the total increment in 2017 showed 37%. The fund inflow champions are Russian institutional clients (+ RUB 109 bln or 45%) and international investors (+ RUB 12 bln or 13%).
We provide advice on fund management to BNP Paribas Asset Management, Alfred Berg and Formuepleje, which invest into corporate equity of companies that are significantly engaged with economies of Russia or CIS countries. Two of international funds under our advisory enjoy the highest Lipper rating while Parvest Equity Russia Opportunities fund also holds the highest Morningstar rating.
In 2017 the Morningstar Agency improved the quality rating of Parvest Equity Russia fund by one grade. Total international investments into Russian stocks under TKB Investment Partners advisory reached RUB 104 bln.
Last year we won tenders for three new endowments, namely, Peterhof State Museum Reserve, Vrubel Arts Museum Development Fund and State Hermitage Museum Development Fund. That brings the total endowments under management to RUB 992 mln.
In 2017 the Company won an important tender by FGKU Rosvoenipoteka (Federal State Institution) that transferred RUB 76 bln under our management by the end of 2017.
New private pension funds – Volga-Capital and Gefest – became our clients thus increasing the total non-state owned pension funds under management to RUB 246 bln.
Insurers’ reserves under management by TKB Investment Partners also reached record highs of RUB 30 bln. Our new clients are AO GSK Ugoria Zhizn (State Insurance Company) and AO SK Blagosostoyaniye (Insurance Company).
We work on developing individual trust management and mutual investment fund management where the total managed assets collectively grew to RUB 13 bln and new agents joined in (AO Globexbank and KIT Finance Broker).
We continuously improve access technology to our services of asset manager. Early 2018 we launched a new personal on-line area at online.tkbip.ru. Initially, it is designed to buy or to deal in open-end mutual fund shares with a potential to handle other investment products of TKB Investment Company on-line.
Company’s own equity is at RUB 700 mln with an anticipated net profit of RUB 1.9 bln.
In 2018 we have plans for the continued active development of TKB Investment Partners in all fields mentioned above. We expect the Russian market to be favorable to the further asset growth of international and Russian investors.
We hope that you will stay with us in 2018 and together we can move towards thriving and success!
CEO of TKB Investment Partners