Nordea Bank launches a mutual fund product line


Nordea Bank launches a mutual fund product line

From 03 August 2012 Nordea Bank offers its customers units in mutual funds (MF) managed by Deutsche UFG Capital Management (UFG INVEST ZAO).

Nordea Bank customers will be able to purchase MF units in any office of the Bank with the managing company’s service point in Moscow, Saint Petersburg and other towns of Russia, due to the signed bilateral agreement.

Deutsche UFG Capital Management is the first managing company to offer its investment solutions through Nordea Bank.

Andrey Maltsev, Deputy Chairman of the Management Board of OJSC Nordea Bank: “We are launching an investment product line with a view to saving and increasing our individual customers’ funds. This is a new business area for us and we are sure that our products will be in demand. We are planning to develop investment banking based on the Nordea Group’s experience in the Nordic countries and the Baltic region where such customer services are being successfully implemented. Sales of MF units and cooperation with Deutsche UFG Capital Management is the first step in developing the investment product line.”

Galina Romanyuk, Retail Director at Deutsche UFG Capital Management: “We are happy to see the growing interest on part of retail banks to development of investment banking. It is obvious that in the current economic environment the existing ‘classic’ banking products hardly cover customer needs for saving and increasing funds, therefore most active banks are adopting an investment product promotional strategy. We are pleased to realise that Deutsche UFG Capital Management was the first managing company to sign an agreement with Nordea Bank on sale, exchange and redemption of MF units.”

Deutsche UFG Capital Management is a managing company, part of the international financial group, the largest European bank – Deutsche Bank. UFG INVEST ZAO, operating under the brand name of Deutsche UFG Capital Management, established its market presence in 1996 and is a recognized expert in the investment sector. The company has the highest safety rating AAA assigned by the National Rating Agency and confirmed annually. Deutsche UFG Capital Management renders trust management services both to individual and institutional customers. It is ranked among the ten biggest players by net assets value of retail funds in the domestic asset management market.

For details on MF products and services offered by Nordea Bank click here.

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