RAM, which specialises in investing in Russia, the Commonwealth of Independent States, Emerging Europe and Africa, made the acquisition for an undisclosed sum earlier this week. The transaction takes RAM’s assets under management from $2.4bn to $2.7bn.
The company said the acquisition of the Dublin domiciled Ucits fund was important because it is already registered for distribution in Germany, Austria, Switzerland and Sweden and mark’s RAM’s entry into the German-speaking market. RAM said it also plans to register the fund, which will be managed by the company’s chief investment officer, Plamen Monovski and Karol Chrystowski, Co-fund manager of the Renaissance Emerging Europe Fund, for sale in the UK.
Adrian Harris, head of distribution and investor relations, said: “With this transaction we build on the $200m Luxembourg fund range that we founded in 2010 to provide our institutional clients with the scale and opportunity, as well as the excellent investment performance, they have come to expect. We will continue to build the UCITS business through organic growth and future acquisitions. RAM is not afraid to invest in its business, despite these difficult markets and at a time when others are cutting back.”
