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Renaissance acquires two emerging Europe funds
by Emma Dunkley on Jan 26, 2012 at 10:11
Renaissance Asset Managers (RAM) has taken over two emerging Europe funds, acquiring assets totalling $116 million (£74 million).
The acquisition of the Griffin Ottoman and Griffin Easter Europe Value fund will see both managers – Aziz Unan and Robert Holmes – join RAM.
The Ottoman fund is an equities strategy with a focus on Turkey, eastern European, the Middle East and North African regions, and is managed by Unan.
The Eastern European Value fund is a total return strategy investing in equities and fixed income across the region, and has a 10-year track record.
The move marks the completion of the deal with Griffin following RAM’s take-over of the $252 million Eastern European fund in December last year.
It also boosts RAM’s emerging markets Ucits range to over $570 million.
RAM's CIO Plamen Monovski said: ‘When we started this business, we set out to build the pre-eminent franchise in eastern Europe.
He added: ‘This latest acquisition makes Renaissance Asset Managers an unmatched proposition in terms of fund management strength and depth of resource in eastern Europe.’
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