Expert RA awarded KIT Fortis Investments an A++ rating

The Expert RA rating agency has awarded KIT Fortis Investments the top reliability and service quality rating A++ (level “exceptionally high/highest level of reliability and service quality”). “The highest appreciation of the reliability and service quality of KIT Fortis Investments is based on the highest level of investment process organization, top quality risk-management system, faster-than-market AUM growth, and integrated software and diversified risk-management tools utilization” – mentions Head of Investment Ratings Expert RA Pavel Mitrofanov. “To install one of the best risk-management systems on the Russian market and to efficiently manage investment process the company adopted experience of its European partner – Fortis Investments.“ Asset management company KIT Fortis Investments operates on the market since 2002. The company specializes on mutual funds management and segregated accounts management.

Expert RA has assigned the rating to Obuv Rossii Group

The Expert RA rating agency has awarded to the Obuv Rossii Group of footwear companies the B+ rating of creditworthiness. The positive factors that impact Obuv Rossii’s credit status are the company’s substantial credit capability enabling it to borrow funds for business development, the expanded diversification of sources for external financing of its activity through a growing number of bank partners and its own bill program. The great advantage that Obuv Rossii has is that this group of footwear companies has formed three footwear brands that can capture very wide segments of the market owing their price diversification. The monobrand nature of the holding’s retail marketing network makes it possible to come up with a unique assortment combination of shops with different brands for each target region of their presence. Another advantage of the company is its own production facilities that can quickly respond to fluctuations in consumer preferences”, says Xenia Morozova, Expert RA, the credit ratings sector of the corporate ratings department. The agency considers the following factors as being negative and preventing the Obuv Rossii group of footwear companies from being awarded a higher rating: risks of developing franchise networks, extra costs of mergers and takeovers resulting from entering new territorial markets. Other deterrents were currency exchange risks during purchases of raw material and finished footwear abroad, a considerable increase in accounts receivable owing to the development of the wholesale direction.

Expert RA has affirmed rating to Management-Centre

The Expert RА rating agency has confirmed the reliability and service quality A ++ rating of the Management-Centre management company (Moscow) (level “exceptionally high/highest level of reliability and service quality”). The highest assessment of reliability and service quality of The Management-Centre is based on its streamlined investment process, a qualitative system of risk assessment, the growth of managed assets and high parameters of profitableness. “In implementing its project investments the company has used the outsourcing of accompanying services (assessment, client search for acquisition and sale of businesses, etc.) which enables the management company to reduce costs for the upkeep of a large staff of narrow specialists”, says Marina Kholmakova, RA Expert, department of financial institutions. In the rating assessment the experts note, among others, the following deterrents: the company’s low degree of business diversification, and the absence of the Code of professional ethics coordinated with the Federal Financial Markets Service (FFMS). The company’s specialization in managing direct investments in the form of private mutual funds hinders the development of other lines of its business in confidential assets management but, at the same time, it enables the management company to take the lead in the confidential management market in terms of total amount of funds.

Applications for the 8th Contest of Russian Innovations Welcome

The EXPERT Innovational office informs about the start of yet another, 8th Contest of Russian Innovations. The Annual Contest of Russian innovation has been organized and conducted by Expert Mediaholding since 2001. Entries may include innovational projects in various fields of science, engineering and technology which may be at different stages of development, introduction and operation of innovational products and technologies. Project may be authored by organizations (without limitations as to their size and type of legal entity), creative groups and natural persons. “One can say with great confidence that the Contest of Russian innovations has become a major event both in the Russian and foreign scientific and business communities. It is important that this project should continue to hold the same stature and note, as it does today, by keeping its unique position as Russia’s centre for innovational policy improvement” Andrei Fursenko, Minister of Education and Science said in his speech.

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Interview

Well, yes, on the federal level no strategy has been developed yet. But there are some conceptual documents: the President's Address, industries' strategies. One of the most important of these is the concept of economic safety of Russia, adopted in 2000. It provides basic empiric criteria of safety: what should the level of people's income difference be so that it couldn't cause social protest; what should the share of foreign investments and the level of fixed capital stock deterioration be in order to maintain normal reproduction. Let's bear in mind that the concept of economic safety provides "eternal" criteria, based on history and experience of many counties...

Grigory Marchenko, head of regional research department of Expert RA

Joint project of Expert RA Rating Agency and Association of Regional Banks ("Rossia")
"Concept of Russian Financial System Development till 2020"

There has taken place press-conference "Future of banking sector in Russia till 2020: resources for growth", where the full version of banking market development has been presented for the first time. This concept was developed within the framework of project "Concept of Russian Financial System Development till 2020" .

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