VEB.RF and Russian Direct Investment Fund to Support Cutting Edge IT Financial Solutions for Wide Range of Investors
VEB.RF signed an Agreement for cooperation in the joint implementation and development of robo-advising and ETF project (Robo+ETF) with FinEx, an international investment group, at the St. Petersburg International Economic Forum.
The Agreement gives VEB.RF, the Russian Direct Investment Fund (RDIF, Russia’s sovereign fund) and co-investors an opportunity to make contributions to the equity of Robo+ETF in the total amount up to one billion roubles, and to carry out marketing and educational programs to promote robo-advising to private and institutional investors in Russia and abroad. FinEx launched Robo+ETF in 2012 as an ETF platform and the first robo-adviser in Russia. Today MICEX lists 14 ETFs with different underlying assets varying from national stock indices to gold and bonds.
“These solutions make it possible to bring together B2B2C platform technologies, Russian and international financial instruments, adapt business practices to different partners and counter parties, unleash export potential of Russian digital products. VEB.RF is also considering the use of financial solutions by the Group and other development institutions to expand its investment offer. In particular, DOM.RF plans to launch the first ETF in Russia with Russian mortgage bonds as the underlying asset,” VEB.RF’s Deputy Chairman Alexey Ivanchenko said.
“Innovative financial products coupled with cutting edge IT solutions make FinEx Robo+ETF project attractive for many of RDIF's international partners,” RDIF’s First Deputy CEO Tagir Sitdekov said. According to Mr. Sitdekov, RDIF will become not only a financial but also a strategic partner of the project taking into account worldwide interest in ETF and robo-advising.
“A partnership with two leading Russian development institutions with extensive international ties is a milestone for us. This partnership opens unique business growth opportunities in Russia and abroad,” FinEx Investment Management Senior Partner Oleg Yankelev said. According to Mr. Yankelev, FinEX team offers a product which efficiently solves issues of small investors in most of the emerging countries, therefore FinEx believes that the product will be in demand not only in Russia but also in Asia and CIS countries.
VEB.RF is a state development corporation. In partnership with commercial banks and investors, VEB.RF is involved in national projects designed to support high value-added manufacturing, non-resource exports, urban agglomeration and infrastructure development. VEB.RF coordinates activities of the largest national development institutions: Russian Export Center, DOM.RF, RSMB Corporation, the Far East and Baikal Region Development Fund, MONOGORODA.RF.
About the Russian Direct Investment Fund
The Russian Direct Investment Fund (RDIF) was founded in June 2011 to make equity investments mainly in Russia jointly with major foreign financial and strategic investors. RDIF is an accelerator of direct investment in the Russian economy. RDIF invested jointly with foreign partners more than RUB1.5tn in more than 70 successful projects in 95% of Russian regions. RDIF’s portfolio companies employ more than 700,000 people and their annual revenue makes 5% of Russia’s GDP. RDIF entered into strategic partnerships with leading international co-investors from more than 15 countries for the total amount of more than USD40bn. For more information please visit: www.rdif.ru
About FinEx, international financial group
International financial group FinEx was founded in 2004. FinEx has offices in London and Moscow. FinEx is a successful developer of different investment products and solutions based on in-house technologies. The parent company FinEx Investment Management LLP is located in London (Great Britain). Today the FinEx Group comprises a robo-advising platform, ETFs for every kind of investors, private equity and private banking services.
VEB.RF and International Bank for Economic Co-operation Agree to Jointly Finance Export-Import Operations
VEB.RF and the International Bank for Economic Co-operation (IBEC) signed a cooperation agreement.
The document was signed on behalf of VEB.RF by its Deputy Chairman Daniil Algulyan and on behalf of IBEC by its Chairman of the Board Denis Ivanov.
The parties agreed to cooperate in export and trade financing as well as to implement investment projects both in Russia and in other IBEC member states.
IBEC member states are: the Republic of Bulgaria, the Socialist Republic of Vietnam, Mongolia, the Republic of Poland, the Russian Federation, Romania, the Slovak Republic, and the Czech Republic.
“Today we and our partners from the International Bank for Economic Co-operation are defining priority areas and the pipeline of projects,” Daniil Algulyan said.
“I am convinced that the partnership between VEB.RF as the largest Russian development institution and IBEC as an international development institution will help unlock significant potential of our organizations in facilitating the development of the eight IBEC member states through the implementation of joint projects, development of exports and integration of companies into global value chains,” Denis Ivanov said.
The financial institutions intend to use the following export and trade financing loan and documentary tools for the implementation of projects:
- documentary letters of credit, guarantees, bank-to-bank reimbursement arrangements;
- trade loans for trade financing, including pre-export, post-export, pre-import, and post-import financing;
- participation in syndicated loans in areas that meet the interests of the parties;
- financing of foreign economic operations against the coverage by ECAs;
- factoring and forfeiting.
In addition the parties agreed to exchange information related to the export and trade financing banking services in IBEC member states.
The International Bank for Economic Co-operation is an international finance institution established in 1963. IBEC is operating as per an intergovernmental Agreement registered with the UN Secretariat. IBEC main activities are aimed at lending financial support to foreign trade operations of companies residing in IBEC member states as well as supporting small and medium enterprises which create added value and aspire to enter new markets; and facilitating integration into global value chains, increased use of technology, improved energy and resource efficiency of production and services, and boosting competitiveness in accordance with priorities of social and economic development of IBEC member states.