RDIF and VEB.RF to cooperate with international investment group FinEx

Press release, 07.06.2019

Saint-Petersburg, June 7, 2019 - The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, State Development Corporation VEB.RF have reached an agreement with the international investment group FinEx for the project Robo+ETF. The project develops and combines computer-aided asset management (robo-advisor) and Exchange Traded Funds (ETF).

The agreement was signed today at the St. Petersburg International Economic Forum.

Under the agreement, RDIF, its co-investors and VEB.RF have the right to invest up to RUB1bn in the equity of Robo+ETF. Both parties have also agreed to implement marketing and educational programs to promote robo-advising among private and institutional investors in Russia and abroad.

The Robo+ETF project was launched in 2012 to develop a platform for issuing ETFs and to implement the first automated wealth management service in Russia (robo- advisor). Currently, 14 funds are traded on the Moscow Stock Exchange for various types of assets, including country stock indices, gold and bonds.

Tagir Sitdekov, First Deputy CEO of the RDIF, said:
“The combination of innovative financial products and advanced IT solutions makes the FinEx group’s project attractive to many RDIF’s international partners. The Fund will become not only a financial, but also a strategic partner of the project, taking into account the demand for ETFs and robotic investment services worldwide”.

Alexey Ivanchenko, Deputy Chairman of VEB.RF, said:
“Alongside investment in the Robo+ETF project, VEB.RF and its subsidiaries are considering the potential use financial solutions to expand the investment proposal and the range of financial tools for Russian and international investors. These solutions make it possible to combine B2B2C platform technologies, Russian and international financial tools, as well as to flexibly adapt formats of work with partners and counterparts”.

Oleg Yankelev, senior partner at FinEx Investment Management, said:
“This partnership with two leading Russian development institutions with extensive international connections is a milestone for us and it provides unique opportunities, for further expansion both in Russia and abroad. Due to the fact that our team can offer a product that effectively solves problems faced by retail investors in most developing countries, we look forward to an increase in demand for the product not only in Russia, but also in Asia and CIS”.

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB 1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 700,000 people and generate revenues which equate to more than 5% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru

VEB.RF is a state development corporation. In partnership with commercial banks and investors, it participates in the implementation of national projects, including in the high-tech industry, non-oil exports, modernization of infrastructure and urban conglomerates. VEB.RF coordinates the country's largest development institutions: the Russian Export Center, DOM.RF, SME Corporation, Far East Development Fund, MONOGORODA.RF.

FinEx international financial group was established in 2004 and has offices in London and Moscow. The Group has successfully implemented various investment products and solutions based on its infrastructure. The parent company FinEx Investment Management LLP is located in London (United Kingdom). Currently, the FinEx Group unites an automated asset management platform (robo-advising), Exchange Traded Funds for public investors (FinEx ETF), private equity funds and wealth management business.

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler
Tel: +44 (0) 20 7796 4133