Italian bank UniCredit will start distributing 18 mutual funds of TKB BNP Paribas Investment Partners through its Russian branches, Bloomberg reports. TKB BNP, a French-Russian venture, manages approximately $4.3 billion for domestic and international investors.
UniCredit will offer support to both its own Russian funds unit Pioneer Global Asset Management and TKB BNP. Eastern Europe’s biggest bank said in August this year that it is examining strategic options for Pioneer Global which was established in 2007 to sell mutual funds in Russia.
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