By Ivan Anderzhanov in Mocow.
Russian's Troika Dialog has reached a distribution agreement with Swedbank whereby it will sell its mutual funds through the Nordic bank's branches in Moscow, St Petersburg and Kaliningrad.
Starting from yesterday, 11 open and two interval funds controlled by Troika's fund management arm will be available to purchase at Swedbank branches.
Andrei Zvezdochkin, director of personal investments at Troika said in a statement: "Troika Dialog's development strategy focused on Russia and the CIS perfectly compliments Swedbank's strategy, allowing us to offer our clients effective products created by the biggest local asset management company and based upon investments in Russian securities."
Swedbank, which released a statement earlier this year stating it would remain in Russia, said the agreement is an important step in developing its retail business in Russia.
Troika Dialog Asset Management works with 12 bank-agents spanning 435 sales points across Russia. Its agents include Sberbank Russia, Citibank, Alfa-Bank, BSGV, KIT Finance Investment Bank, OTP Bank, Moscow Credit Bank, AKB Soyuz, Master-Bank and HSBC. Swedbank will become its thirteenth bank-agent.
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