Bank ZENIT mobilised RUR644 million for its OFBU in 2005
The popularity of collective investment showed a steady growth in 2005. Bank ZENIT was one of the most active participants of the market with its General Bank Management Funds (OFBU) Dokhodny and Universalny, as a result of which the Bank's share in the OFBU market by net asset value increased to 25% as of early 2006.
The Bank's OFBU mobilised RUR644 million in 2005 which 86% higher than in 2004.
Capital managed by ZENIT's OFBU amounted to RUR1,389 million as of late 2005, and the net asset value to RUR1,886 million.
In 2005, the profitability of OFBU Dokhodny was 71% and that of OFBU Universalny (a conservative strategy fund) 18%.
The Bank's experts had many publications in mass media with a view to developing the investment culture of the population and informing potential investors of the funds' activity. Thus, FORBES in its July issue gave the Bank's OFBU a very flattering assessment: 'ZENIT's general bank funds are one of few funds that can successfully compete with unit investment funds (PIFs) in terms of profitability.'
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