Riga-based CBL Asset Management has announced the completion of the merger of the CBL Eastern European Select Equity Fund into the CBL Russian Equity Fund.
Unit holders will be able to manage their shares in the CBL Russian Equity Fund as from 13 July 2017.
The CBL Eastern European Select Equity Fund was invested in small and mid cap stocks from the CEE region, including Turkey, Poland, Russia, Kazakhstan and Ukraine.
As of December 2016, AuM of the fund were €800,000.
The CBL Russian Equity Fund, managed by Elchin Jafarov and Igor Lahtadir, invests in a selected list of Russian companies and targets long-term capital growth.
As of end May 2017, the fund’s AuM totalled €4.1m.