asset management business growth in russia: aton-management experience
DESCRIPTION
Asset Management Business Growth in Russia: Aton-Management Experience. Russian E conom y. Asset Management in Russia. III. II. I. Aton- M anagement. Content. Russian Еconom y. 12 00. 15. 800. 10. 5. 400. 0. 0. -5. Gross Domestic Product. $bn. Growth of GDP (YoY,%). 6,7. - PowerPoint PPT PresentationTRANSCRIPT
Asset Management Business Growthin Russia: Aton-Management Experience
2www.am-aton.ru
Aton-Management
Russian Economy
Content
Asset Management in Russia
III
II
I
I II III
Russian Еconomy
4www.am-aton.ru I II III
1998 1999 2000 2001 2002 2003 2004 2005 2006
Gross Domestic Product
$bn Growth of GDP (YoY,%)
0
400
800
1200
-5
0
5
10
15
6,7
5www.am-aton.ru I II III
9M20071998 1999 2000 2001 2002 2003 2004 2005 2006
Consumer Price Index (YoY, %)
84
37
20 19 15 12 12 11 10 88
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1998
Surplus / Deficit of Federal Budget
-20
0
40
60
80
20 2
4
6
8
0
1999 2000 2001 2002 2003 2004 2005 2006
GDP %$bn8x growth
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Gold and Hard Currency Reserves
$bn GDP %
0
200
300
400
500
100
0
12
18
24
30
6
1998 1999 2000 2001 2002 2003 2004 2005 2006 9M2007
8x growth
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1998 1999 2000 2001 2002 2003 2004
Net Capital Export / Importby Private Sector
-30
-15
15
30
45
0 0
6
12
18GDP %$bn
2005 2006
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Total Bank Capital
1998 1999 2000 2001 2002 2003 2004 2005 20060
2
4
6
8
0
20
40
60
80$bn GDP %
2,2x growth
I II III
Asset Management in Russia
11www.am-aton.ru I II III
Stock Index Comparisonfor Emerging Markets (YoY yield, %)
8371
8
3841
28
-8130
108
283336
2912
20TA100
BVSP
BSE100
RTS
SSEC
9M200720062005
Israel
Brazil
China
India
Russia
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Net Assets of Mutual Fundsper Capita (end of 2006, $)
40
52
2 242
3 863
5 216
20 303
34 745
Russia
India
Brazil
Israel
Korea
Euro-zone
United States
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Open-End Funds(net assets, $bn)
2003 2004 2005 2006 20070
2
6
414x growth
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Closed-End Funds(net assets, $bn)
2003 2004 2005 2006 20070
3
6
9
12
9,5
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RF Pension Fund Assets under Management of External Companies (net assets, $bn)
2003 2004 2005 2006 20070
3
6
9
12
Assets Growth 65%
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Assets of Non-federal Pension Funds(net assets, $bn)
2003 2004 2005 20060
6
12
18Assets Growth 60%
I II III
Aton-Management
18www.am-aton.ru I II III
Key Сlients
Federal Pension Fund
Moscow City Government
Russian Federation Ministry of Defense
Deposit Insurance Agency
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Total Value of Assets Managed by AM: $557m
Non-federalpension fundreserves
Mutual funds
19%
57%
Trust funds
16%
Proprietaryand other funds
8%
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0
200
600
400
Total Value of Assets Managedby AM ($m)
2000 2001 2002 2003 2004 2005 2006 2007
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Total Assets of Aton-Management’s Open-End Mutual Funds ($m)
0
30
90
60
7/05 1/06 7/06 1/07 7/071/05
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I ′04 I ′05 III ′05 I ′06 III ′06 I ′07III ′04
Growth of Total AUM, %
Aton-Management Troika DialogUralsib
0
20
40
60
100
80
23www.am-aton.ru I II III
Yields of Open-End Mutual EquitiesFunds, % (base 01/01/06)
RTSRaiffeisen Capital
Aton-Management Troika DialogUralsib UFG Asset Management
0
20
40
60
100
80
3/06 5/06 9/06 11/06 1/07 5/07 9/077/061/06 3/07 7/07
Renaissance
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3/06 5/06 9/06 11/06 1/07 5/07 9/077/061/06 3/07 7/07
Yields of Open-End Mutual Balanced Funds, % (base 01/01/06)
0
10
20
30
50
40Raiffeisen Capital
Aton-Management Troika DialogUralsib UFG Asset Management
Renaissance