M.V. Slipenchuk, the head of METROPOL Group and Director General METROPOL AM, A.E. Rabinovich Managing Director of METROPOL AM and M.Yu. Borzin, Deputy Director General IFC Metropol on Public and Corporate Relations took part in the press conference “New development strategy for Metropol Management Company” which took place at RIA Novosti.
Participants of the press conference spoke about the reasons for the staff changes which have taken place in METROPOL AM, and acquainted those attending with the new development strategy for the company during the financial crisis.
M.V. Slipenchuk analysed in detail the situation which has developed in the Russian and world financial markets. He noted that of the fall in the share market has affected METROPOL to a lesser degree than other market players. “Several years ago, we understood that there could not be long-term growth in the share market, and therefore changed our strategy of behaviour in the market and differentiated our activity. We excluded investments of our own funds in securities,” he said.
In addition to its own investment bank activity, METROPOL Group is engaged in direct investments into real estate, the development of polymetallic deposits and tourism, M.V. Slipenchuk has said. “The fall which is affecting the share market now has virtually passed by METROPOL Group. The majority of our assets today are commercial real estate. The only thing that concerns us is the liquidity in the financial market,” he concluded.
In his turn, A.E. Rabinovich, having said that from 7 October to 28 October share investment funds under the control of METROPOL AM performed better in comparison with the whole structure of the market, especially noted: “We have two large funds: Metropol Golden Fleece share fund and Metropol Athena mixed investment fund. According to all available information, today the Metropol Athena fund has performed 9.8% better in comparison with the whole structure of the market, and Metropol Golden Fleece fund by 5.45%.” In addition, the Metropol Athena fund performed 9% better than the RTS index, and Metropol Golden Fleece fund by 15%, he added.
The improvement of parameters is connected with the change in investment strategy of the company, Rabinovich emphasized. “We have rearranged portfolios and, having left less liquid shares and bonds of the second and third levels, have shifted securities to blue chips,” he explained.
Those gathered were shown the new development strategy for METROPOL AM which includes:
• Active interaction with state corporations and management of their funds;
• New approaches to cooperation between METROPOL AM and private pension funds;
• Increase in the quantity private pension funds under METROPOL AM control;
• Expansion of cooperation with Japanese partners, entry to other international markets;
• Participation in development of a federal state development programme for the market of collective investments in the Russian Federation along the line of “Concepts of long-term socio-economic development in Russia up to 2020,” approved by the Russian Government.