Perpetual Values OFBU of OJSC Bank ZENIT became the most profitable one among open-end unit investment funds and general banking management funds (OFBU) in 1Q 2008
Moscow. April 15, 2008
According to ratings published on www.investfunds.ru (open-end unit investment funds and OFBU ratings by their profitability), Perpetual Values Fund became a leader by profitability in Rubles in the first quarter of 2008 (+9.94%). Perpetual Values General Banking Management Fund (OFBU) assists in making investments on precious metals market. Assets of the Fund are composed of gold- and silver-based derivatives, precious metals in bullions. Idle cash not being used as a collateral for futures contracts, is invested in securities issued by the Russian Federation, as well as in fixed income securities issued by foreign countries, the rating of which is equal to or higher than the investment-grade one (at least ВВВ- according to Standard & Poor's classification).
Perpetual Values OFBU launched its operations on February 9, 2007, and its annual profitability (from March 31, 2007 to March 31, 2008) was +26.1%.
Detailed information on Perpetual Values OFBU of OAO Bank ZENIT is available at invest.zenit.ru.
FOR REFERENCE:
OJSC Bank ZENIT is one of the country's 25 leading private finance and credit institutions in terms of assets, profit and equity (according to Rosbusinessconsulting and Expert RA Rating Agency). Provision of integrated corporate banking services is one of its core areas of operations. Bank ZENIT is actively involved in development and promotion of retail services, and offers its individual customers the full range of banking programs, including deposits, mortgage, consumer and car loans, bank cards, and safe deposit boxes. The Bank also has strong positions in the market for investment and private banking services. Bank ZENIT is rated by international rating agencies at Ba3/Stable (Moody's) and B/Positive (Fitch).
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