TKB Investment Partners of JSC Official. Criminal Code "TKB BNP Pariba" passed to the head of the Alor Group of Companies

Largest management Company from foreign capital "TKB BNP Parilla Investment Partners" replaced the owners. Financial structures Railways and French BNP Paribas. Investment Partners sold their shares by the chapter of the Alor Group of Companies Anatoly Gavrilenko, one of the consolidators of non-state pension funds (NPF), writes Kommersant.

"The company is fully proceeding under the control of the Russian shareholder Anatoly Gavrilenko, the transaction has already been completed," the general director of TKB BNP Paribi Investment Partners is confirmed by Vladimir Kirillov. Gavrilenko assesses the acquisition as a good company "with effective management and a large amount of funds", which, as he hopes, will be useful for russian economy».

"TKB BNP Parilla Investment Partners" (initially "Kit Finance", then "Keith Fortis Investments") works in the market trust management Since 2002 and is included in the top 10 largest Russian management companies. According to the company, on April 30, 2015 total pure assets Under management and counseling exceeded 153 billion rubles. According to the publication, at the beginning of the year a third investment portfolio Metals were funds of foreign investors. Revenue from trust management services for 2014 exceeded 562 million rubles.

Cause of sales share in the management company executive Director NPF "Welfare" (Russian Railways is controlled) Yuri Novozhilov called the Fund's decision to focus on the management of pension reserves. "To control them, we have companies with which we are historically cooperating. TKB BNP Pariba worked with pension savings and concentrated on the management of market assets, and market leaders pension savings Made to us good suggestion"He explained.

The price of the transaction is not disclosed, but, according to sources close to one of the parties, it was installed at the company's capital level (about 800 million rubles). Experts note that it is a bit, only 0.5% of assets under management, while on average management companies are estimated at 1-2% of assets. "It is very likely that foreigners simultaneously with the sale of the company will bring most of the assets," the source of publication is familiar with the situation.

However, according to Vladimir Kirillov, the company will continue to develop the same areas as before, management of institutional investors and consulting on the management of foreign funds. "Staff after changing shareholders remains, and the company will work autonomously," Kirillov said. Anatoly Gavrilenko, which is a shareholder of three major NPF ("KIT Finance", "Heritage", "Promagroofond"), assumes that the acquired management company will be connected to the management of pension savings.

Market participants assess the fact of selling the company negatively. "This was one of the latest companies with foreign capital and an interesting model of work, in which the Russian team ruled BNP Paribas money," the Alfa-Capital General Director of Irina Krivosheeva complies. "TKB BNP Pariba" is one of the few honest and market players with whom it is interesting to compete, now it is sold in a closed structure, and it is not clear how it will continue to develop, "Sberbank Management Management Craft Director Anton Rakhmanov argues. In his opinion, a key role in the transaction played a geopolitical factor and desire foreign company "Collapse business in Russia."

(Photo: From a personal archive)

Managing Director for Investments " TKB Investment Partners "Vladimir Zuprov is responsible for Investportfel in almost 300 billion rubles. Under his leadership, the company's assets in 2015 increased by 128%, which brought it to the fourth place among the largest Russian CCs, and the FIF of currency bonds was the second fund russian market For five years. About how to manage big money, why it is better to do from St. Petersburg and what will happen to the Russian economy, Zuprakov told RBC.

"In Moscow too noisy"

My way to financial industry Was very short: I graduated from St. Petersburg University of Economics and Finance, where he studied at the department of securities, and then quite quickly passed all the steps of the career ladder - from the analyst for shares to the manager of investments.
When I started my career In 1998, I had to learn from my mistakes and mistakes of people around me. I have no authorities in investment sphereBut I am with attention to any interesting experience.
I have been managed asset for more than ten yearsWhile in St. Petersburg, as well as my team, which does not affect the effectiveness of the process. Moreover, it eliminates the extra noise that is constantly surrounding the manager. The investment space of Moscow, boiling and full rumors, nominates perception and may distract from work. It is more useful to be aside from this.
I am a trust managerSo, I work in the rigid framework specified by the Client and the current legislation. I have two main tasks: the first is to provide high-quality teamwork on the chosen market, the second is to refuse to work on the market for which I have no examination. For some reason, it is customary to ignore the last in Russia.
Managing has unique abilities - He quickly makes decisions in conditions when other things are clear. We can easily make rates for millions of dollars in conditions of complete uncertainty. But I must know the measure: Even if the potential income from the transaction is huge, I do not have the right to invest more money into it than the risks allow. Those who do not comply with this rule always finish equally bankruptcy.

Vladimir Zuvel

Born in 1976 in Leningrad. He graduated from the St. Petersburg State University of Economics and Finance in the specialty "Finance and Credit". Works in investment business Since 1998. In 2000, he headed the analytical department at the VEB-Invest Bank, in 2002 he took the position of deputy general director of the KIT Finance Criminal Code. In 2003-2005, Zuprov occupied the governing positions in National Bank development. In 2005, he returned to the Kit Finance Code to the position of Director of the Asset Management Department. Today he is managing director of investment "TKB Investment Partners".

The main principle of the manager - To understand what you need to do, why and what risks arise at the same time. Golden combination of these factors associated with the ability to extract the information necessary for making a solution - this is the key to success. You can be improved in this matter forever.
In our company investment process It is constantly evolving, and now there are even two approaches competing with each other. One is based on the calculation of the sustainability of the future cash flow Companies in assessing the cost of its shares, the other - on the Value investment methods, when the company's cost is estimated according to historical data.
We see trust crisis to managers. People do not want to give money to other people who, as they think, fold their savings into a black box, they themselves cut the coupons from him, and the investor gets "how it happened."

"The economy will not return to steady growth."

Obvious investment ideas can not be. There are billions of rubles and billions of dollars in the market, so all the ideas that have once lay on the surface have long been rejected. If it were obvious to investing money now, these assets would immediately become very expensive.
In 2015, Russian Eurobondsthey received the yield and devaluation of the ruble and from the growth of dollar prices for these papers. There are no great merits in this, because those who ruled such funds, "left" on the fall of the ruble and the growth of the American currency. So, if you want to praise the control portfolio of Eurobonds, then it is necessary to look at the profitability, but on how he worked compared to competitors or benchmark.
This year, Eurobonds are unlikely to beas attractive as in 2015. Bonds have already grown very well in price. So that this growth continued, they must go to zero yield, but it is impossible. Therefore, now it is not about getting superfield, but on how to show yield, significantly exceeding deposits.

"TKB Investment Partners - Foundation for Currency Bonds"

The cost of net assets (on 05/30/2016) - 439.2 million rubles, the share - 27.3 thousand rubles. Invests in affordable international markets State and corporate eurobonds of issuers from Russia and CIS countries, as well as in currency bonds, the guarantor of which companies from Russia and CIS countries are the guarantor. According to Investfunds, it became the most profitable impact on the Russian market (from among the actively traded) in five years. Its result (on December 31, 2015) - 150.84%. At the same time, for 2015, the Fund showed a yield of 38.03%.

Eurobond mutual impassions carry significant costs Compared to deposits - more than 2% per year. The manager to overtake the deposit rate with a rate of 2% per annum in currency, you need to earn 5% of the annual "dirty". Then minus costs it will be a good result for the client. Now the manager has to think about it, and not about how to repeat the result of 2015.
Some years ago On one of the client presentations, I said that I did not see opportunities for a significant growth of the MICEX index and I do not understand what could be the cause for him. And then "flew from where they did not expect": more than two-time devaluation of the ruble pushed a ruble index to new tops. Today, the main factors that will influence the quotes of Russian shares is the ruble exchange rate and interest rate dynamics.
Now it is not important that the Russian economy has Chance to bounce from the "bottom". It is important that leaving no place: the force of gravity will pull us back. The Russian economy can stabilize and grow by 1-2%, but it will not be a steady ascending movement. A stable growth of the economy will not return, and in the long run she can continue to fall. It is difficult to prove it, because it is felt at the level of intuition.

Managing Director for Investment "TKB Investment Partners" Vladimir Zuprov (Photo: From a personal archive)

"Learn to rake garbage"

We live in conditions Zamuorne information space. The investment industry as one of the most complex inspired to the limit. Even in Sony Corporations, Nikon and Canon, the decision on which specifications should be in new digital cameras, marketing departments are taken. Learn to rack this information trash. If it is difficult, then invest in bank deposits.
The first question to which you need to answer is - This is what currency you will invest. It should also be understood for how long the investment portfolio is formed. Having answered these two questions, you can already think about the assets in which you invest money.
If you want currency savingsbut not in the form bank deposit, it is worth paying attention to mutual impairs in currency instruments. They are good because you don't have to pay income tax With currency revaluation. This is advantageous to the PAI in such PIFA from buying Eurobonds to the brokerage account. And if you enter additional taxes on the currency depositsthen this tool will be at all best way save money in currency
Remember that with 1st of January 2015 you have the opportunity to get tax deduction (Do not pay NDFLs at 13%) in the future, if you invest in any mutiys for more than three years. This is a very serious advantage that significantly increases the attractiveness of mutual effects as investment instruments.

TKB Investment Partners

Earlier - "TKB BNP Parilla Investment Partners", "Kit Finance" and "Keith Fortis Investments". Works in the trust management market since 2002. Until 2015 was the largest management company with foreign capital in Russia, owners - French BNP Paribas Investment Partners and Russian Railways financial structures. In July 2015, they sold their colors to the head of the Alor Group of Companies Anatoly Gavrilenko.

Cash various categories of investors in the amount of over 200 billion rubles The company directs as in real sector Economy and to purchase securities, with varying degrees of risk. The owners of the company is the BNP Paribas group, as well as financial management Russian OJSC railways" UPR. Companies assigned Reliability A ++ according to Expert RA and Maximum Rating NRA.

Operations in the stock market

In the BBD Family of the TKB BNP Parilla Investment The Partners includes the following funds:

Paris Premium - Foundation offering investors Financial inferidation in the shares of national and foreign corporations with a cumulative extension of feuds in the amount of over 184 million rubles;
Paris Index RTS - Foundation Offering Investors Financial inferidation in the shares of national corporations affecting the formation of a stock exchange index, with a total extension of shares in the amount of over 164 million rubles;
Paris - Russian Metallurgy and Mechanical Engineering - Foundation Offering Investors Financial Infrivations in the Shares of Metallurgical Companies, with the Cumulative Pass in the amount of over 44 million rubles;
Paris - Russian oil - Foundation offering investors financial infliction in the shares of oil companies, with a total volume of mutual extensions in the amount of over 119 million rubles;
Paris - Russian Electric Power Industry - BNP Paris Investment BNP Paris Investment Partners Offering Investors Financial Influxers in Shares of Energy Companies, with an aggregate extension in the amount of over 190 million rubles;
Paris - Russian Consumer Sector - Foundation Offering Investors Financial inferidation in the shares of the largest rietelars, with a total of shares in the amount of Over 27 MLN. rubles;
Paris - Fund of Shares - Foundation Offering Investors Financial influencing in the shares of the largest rietelers, with the total volume of shares in the amount of over 126 million rubles;
Paris Foundation money market - Foundation focused on active use of short-term potential financial instruments With the total volume of feces over 146 million rubles.
Paris Bonds Foundation guarantees its shareholders to receive profits from operations with securities issued by state and municipal authorities with the cumulative amount of feud over 483 million rubles.
Paris - Foundation Balanced Conservative Management Company TKB BNP Parilla Investment Partners offers its investors to passive investment tactics, whose main tool is bonds. The fund accumulates shareholders in the amount of 155 million rubles.
Paris - Foundation for currency bonds aimed at making revenue operations with bonds. The fundamental potential of the Fund varies within 300 million rubles.

In addition, TKB BNP Parilla Investment Partners Management Company integrates smaller under its beginning functions, mostly open type. Most financial institutions earn money through the purchase of shares and bonds and other operations in the stock market.

Closed institutions

Closed group funds provide for the direction financial means For the purchase of property facilities, bills, a certain share in the authorized capital of steadily working corporations. Services providing expert assessment of capital and development of investment strategies are actively promoted.

Management of retirement money

UPR. The company illustrates high profitability in the field of pension finance management. For 2013, yield amounted to 8, 55 percent per annum, which is an excellent indicator for the Russian market. Investors can pass their accumulations to the Pension Fund and through the Agents of the Financial Group.

Open joint-stock company TKB BNP Parilla Investment Partners creates various services that allow customers to feel the maximum comfort when transferring funds to the company's management. Consulting services and an investment calculator allow you to navigate in the diversity of financial products, and choose the desired capital earning strategy.

Buying alternative funds

In 2013, a merger of the company has occurred as a result of assets consolidation. financial institutions Group Kit Fortis Investment. As a result, the segment of collective investments managed to significantly increase. After integration, the company partially borrowed the tactics of investing competitors, partially promoted his own ideas. The result was a good profitability of almost all funds following the results of 2013 and the beginning of 2014.

10.07.2015 09:00

Anatoly Gavrilenko bought TKB BNP Parilla Investment Partners

After parting with both previous owners, the management company will change the name on the TKB Investment Partners, but will save the strategy and team.

One hundred percent control over TKB BNP Parilla Investment Partners has moved to Anatoly Gavrilenko, Chairman of the Supervisory Board of Alora and the beneficiary of Pension Funds "KIT Finance NPF", "Promagroofund" and "Heritage". "A new shareholder fully supports the goals of the company, positively assesses the results of its development and management," is emphasized in the report of the Criminal Code.

Previously, the company on parity origins belonged to BNP Paribas Investment Partners (division of the French group BNP Paribas) and Russian Railways structures. The sum of the transaction side was not disclosed, but according to the information of the sources of Kommersant, close to one of them, the figure is comparable to the capital of TKB BNP Parilla Investment partners.

On May 31, the company's own funds amounted to 655 million rubles, and the volume of net assets under management and consulting, according to its data, is 136 billion rubles. According to the estimates of the national rating agencyFor the year, the assets under the management of the company sharply decreased by 43% to 115 billion rubles (at the end of March). At the same time volume own funds During the same period, increased by 2% to 674 million rubles.

CEO of TKB BNP Parilla Investment Partners, Vladimir Kirillov, is counting that his company will continue to remain profitable

According to the source of the RBC, one of the reasons for selling its share by the BNP Paribas group was the reluctance of Western investors to conduct business in Russia after the extension of sanctions. At the same time, Russian Railways, the need to own his own management company disappeared after part of its pension empire was acquired by the O1 Boris Minza group.

Changes the name on TKB Investment Partners, the company will remain an investment center for Russian securities For domestic and foreign customers. "Such a purchase is a unique chance in the market! The company employs excellent professionals who can follow the planned plan and independently develop it, as they did all previous years, "the word Gavrilenko reports.

"I am glad that the new shareholder fully divides the view of the management for further development," commented the transaction cEO Vladimir Kirillov's companies, especially noting that its Criminal Code is an "independent and autonomous" and operates exclusively at the expense of its own profit.

The largest management company with foreign capital "TKB BNP Parilla Investment Partners" replaced the owners. Russian Railways and French BNP Paribas Investment Partners sold their shares of Alor Group of Companies Anatoly Gavrilenko, one of the consolidators of non-state pension funds (NPF). Experts assess the changes that have occurred as negative: one of the last market companies Gone to closed structures.

One of the largest transactions ended in the Russian principal department. Russian Railways financial structures and the BNP Paribas Investment Partners management company (part of the International Financial Group BNP Paribas) sold their shares in the Criminal Procedure of the TKB BNP Paribass Investment Partners of the Structures of the Head of the Alor Group of Companies Anatoly Gavrilenko. "The company fully passes under the control of the Russian shareholder Anatoly Gavrilenko, the transaction has already been completed," the Director General of TKB BNP Parilla Investment Vladimir Kirillov confirmed the information. Mr. Gavrilenko assesses the acquisition as a good company "with effective management and a large amount of funds", which, as hoping, will be useful for the Russian economy. " Control over the management company switched for about a week ago, refined sources "K" on the market.

"TKB BNP Parilla Investment Partners" (initially "KIT Finance", then "Keith Fortis Investments") operates in the trust management market since 2002 and is included in the top 10 largest Russian management companies. According to the company, on April 30, 2015, the total amount of net assets under management and counseling exceeded 153 billion rubles. According to "Kommersant", at the beginning of the year a third of the investment portfolio was funds of foreign investors. Revenue from trust management services for 2014 exceeded 562 million rubles.

The reason for the sale of a share in the management company Executive Director of the NPF "Welfare" (controlled by Russian Railways) Yuri Novozhilov called the Fund's decision to focus on the management of pension reserves (pension savings were allocated to a separate Fund "Welfare OPS" and sold investment company O1 Group Boris Minza at the end of last year) . "We have the companies with which we historically cooperate." TKB BNP Pariba worked with pension savings and concentrated on the management of market assets, and the leaders of the retirement savings market made us a good offer, "he explained. The request to the group BNP Paribas yesterday remained unanswered.

The price of the transaction is not disclosed, but, according to sources close to one of the parties, it was installed at the company's capital level (about 800 million rubles). Experts note that it is a bit, only 0.5% of assets under management, while on average management companies are estimated at 1-2% of assets. "It is very likely that foreigners simultaneously with the sale of the company will bring most of the assets," said the source "Kommersant" familiar with the situation.

However, according to Vladimir Kirillov, the company will continue to develop the same areas as before, management of institutional investors and consulting on the management of foreign funds. "The staff after changing shareholders remains, and the company will work autonomously," Mr. Kirillov said. Anatoly Gavrilenko, which is a shareholder of three major NPFs ("Kit Finance", "Heritage", "Promagroofond"), assumes that the acquired management company will be connected to the management of pension savings.

Market participants assess the fact of selling the company negatively. "This was one of the latest companies with foreign capital and an interesting model of work, in which the Russian team managed BNP Paribas money. It is important that it was one of several market companies, and the transition under the control of new structures is an obvious step towards the capetiveness. Working with NPF Assets, "Irina Krivosheeva complains the general director of Alfa-Capital. "TKB BNP Pariba is one of the few honest and market players with whom it is interesting to compete, now it is sold in a closed structure, and it is not clear how it will continue to develop," Anton Rakhmanov arises, "Sberbank Management Management Management Management Company". In his opinion, the key role in the transaction was played by the geopolitical factor and the desire of the foreign company "Collapse Business in Russia".

Maria Yakovleva, Julia Lokshina, Kirill Sarkhanyantz