IFC Bank and Fleming Family and Partners, a management company, have signed an agency contract for sale of shares of the open-end fund run by Fleming Family & Partners. The sale of fund shares is part of the cooperation contract signed this spring. IFC Bank is to start selling shares through their offices in Moscow and the Moscow region-Pushkinsky and Zhukovka-after FCSM has registered the corresponding changes in the guidelines for trust management and the management company has officially announced it.
For the management company this contract is the first step towards agressive growth, the strategy that Fleming Family and Partners have adopted this April. It envisions developing a wide network of distribution agents for the fund. They are planning to conclude more such agreements with large Russian and international banks.
Rustam Iseyev, Fleming Family and Partners CEO, says: «Fleming Family and Partners and IFC Bank have a long-established business relationship. The management company and the bank share the high-income segment of the market, have similar business philosophy with real synergy realized in many other mutual projects.»
Oksana Lifar, Senior Deputy Chairman of the IFC Board of Directors, points out: «This is the next logical step in our cooperation. For us it is important to render high-quality service to our client and provide them with an opportunity to choose from a wide range of tools to realize their own investment strategy.»