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Baring
Asset Management The Baring group was founded in 1762 and the UK asset management team was established in 1958. Baring Asset Management was among the first to open an investment management office in the Far East over 20 years ago and launched investment operations in the US in the late 1970s. These activities were combined in one division, Baring Asset Management, in 1989. As a global investment management company we manage over £19 billion on behalf of clients located around the world. We offer a wide range of equity and fixed income funds in both domestic and international markets, through mutual funds and segregated accounts. We operate today as part of the ING Group, one of the largest financial institutions in Europe and one of the world's largest providers of integrated financial services. ING is committed to being a major competitor in the global asset management business through a number of its operating entities that serve different markets. Baring Asset Management represents a critical component of that strategy. In many of the world's major pension markets, Baring Asset Management is the flagship of ING's investment management activities. Baring Asset Management has been investing in Emerging markets since 1991 when we established a Global Emerging markets team in our London office to offer an Emerging markets product. |
| Celtic
Resources Holdings Plc Celtic Resources Holdings Plc owns and operates gold mines in Russia and Kazakhstan and manages over 30 million ounces of gold, of which 15 million ounces is attributable to Celtic. Our management and operating teams have had over 10 years continuous experience in Russia and Kazakhstan and have demonstrated the ability to find, develop and operate successful projects at low cost. The company is profitable and we plan to reach un-hedged attributable gold production rates of 100,000 oz/yr by end 2003 and 300,000 oz/yr by 2005. Celtic’s key assets are:
Celtic’s spread of assets and the focus of the FSU is part of its overall aim to build significant portfolios of interests in three sectors: gold, base metals and hydrocarbons. |
 Celtic Resources Holdings Plc |
Clariden
Bank
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| City
of Moscow The State Debt Committee of the City of Moscow was established on July 22, 1996 in accordance with the Resolution of the Mayor of Moscow to arrange and execute borrowing on behalf of the City through placement of securities. The Committee is the only borrower on behalf of the Government of the City of Moscow in relation to all kinds of debt guaranteed by the City budget. The main objectives of the Committee are as follows:
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| EBRD The European Bank for Reconstruction and Development (EBRD) was established in 1991 when communism was crumbling in central and eastern Europe and ex-soviet countries needed support to nurture a new private sector in a democratic environment. Today the EBRD uses the tools of investment to help build market economies and democracies in 27 countries from central Europe to central Asia. The EBRD is the largest single investor in the region and mobilises significant foreign direct investment beyond its own financing. It is owned by 60 countries and two intergovernmental institutions. But despite its public sector shareholders, it invests mainly in private enterprises, usually together with commercial partners. It provides project financing for banks, industries and businesses, both new ventures and investments in existing companies. It also works with publicly owned companies, to support privatisation, restructuring state-owned firms and improvement of municipal services. The Bank uses its close relationship with governments in the region to promote policies that will bolster the business environment. The mandate of the EBRD stipulates that it must only work in countries that are committed to democratic principles. Respect for the environment is part of the strong corporate governance attached to all EBRD investments. Every EBRD investment must
Through its investments, the EBRD promotes
Functioning as a catalyst of change, the EBRD
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| Gazprom Gazprom is Russia's largest company and the world's largest gas producer with over 500 bcm of gas production in 2002 and at least 18 tcm of proven gas reserves. Gazprom's gas exports supply 25% of European demand. Gazprom was established as a Russian joint stock company by Presidential Decree No.1333 dated 5 November 1992. OAO Gazprom and its subsidiaries (the “Group”) operate one of the largest gas pipeline systems in the world and are responsible for substantially all gas production and high pressure gas transportation in the Russian Federation. The Group is also a major exporter of gas to other European countries. The Group is directly involved in the following principal activities: exploration and production of gas and other hydrocarbons; processing of gas condensate and other hydrocarbons, sales of hydrocarbon products; transportation of gas; and domestic and export sale of gas. |
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| Hermitage
Capital Management, Moscow Hermitage Capital Management is one of the largest investment management firms that specializes in the Russian equity market. The firm makes significant minority investments in large public Russian companies and uses its influence to make positive changes in the corporate governance of those companies. The firm is an affiliate of HSBC and has offices in Guernsey and Moscow. The main product of the firm is the Hermitage Fund. |
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| Morgan
Stanley Profile to follow shortly. |
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Power Machines Group In 2002 the sales company Energomachexport, having a 35 years experience of complex power projects constructions and delivery of equipment to various countries of the world, and the Managing Company Power Machines amalgamated. Today Energomachexport – Power Machines is the head company of the Power Machines Group, dealing with functions of sales and management. Energomachexport - Power Machines determines the marketing policy of the group in the Russian and foreign markets. The company has a wide network of its own representations in 16 countries. The total capacity of the delivered power generating equipment exceeds 35 thousand MW. |
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Prosperity
Capital Management Prosperity manages its investments on-the-ground from its Moscow office. This enables the fund managers to specialize by industry, actively promote shareholder rights, and capitalize on a strong network of partners around Russia. The election of Prosperity’s fund managers to many Boards of Directors, among them Russia’s most traded blue-chip UES, testifies to Prosperity’s high reputation among portfolio investors in the country. Prosperity’s investment style is characterized by a bottom-up, non-index approach. Successful picks of alternative blue-chips combined with theme investing, such as event arbitrage, have led to significant out-performance vis-à-vis the major Russian equity indices. Prosperity managed all the world's three best-performing offshore equity funds in 2002, according to Standard & Poor's. Of the world's six best performing funds in 2001, five were managed by Prosperity. The flagship fund, the Russian Prosperity Fund, outperforms all other Russia funds over a 3 year term at the most attractive risk-return ratio on the market. |
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RAO
UES of Russia RAO "Unified Energy Systems OF RUSSIA" The Russian Joint Stock Power and Electrification Company RAO "UES of Russia" is a sector-wide holding company with extensive functions in ensuring a reliable supply of electricity and heat energy to various sectors of the economy and general public, as well as managing the Unified Energy System of Russia and implementing investment programs in the energy sector. RAO "UES of Russia" is the most important component of Russia’s power generation and supply industry and operates in structural terms as a company, a holding company and a group. RAO “UES of Russia” controls the substantial number of subsidiaries and dependent companies, the primary operations of which relate to the process of producing, transmitting and distributing energy and organizing the functioning and development of the Unified Energy Systems of Russia. RAO "UES of Russia" plays the leading role in Russia's electric power sector: Installed capacity: 155,6 MW; 407 thermal and hydro power plants. Electricity production: 617 TWh (70% of the total Russian output). Heat production: 470 million Gcal (33% of all heat energy produced in Russia). Transmission and distribution lines: 2.5 million km (96% of the total). Sales: The Holding RAO "UES of Russia" is among the three largest Russian companies by volume of sales. Sales of the companies within the Holding amounted to USD17 billion in 2002. Number of employees: RAO "UES of Russia" is the largest in Russia holding by number of employed. The number of employees in the companies within the Holding is 632 thousand. |
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Standard
& Poor's Over 140 years of independent insight for the global financial community. Who we are: A merger in 1941 of Standard Statistics and Poor's Publishing Company traces its roots to 1860 when Henry Varnum Poor published his History of Railroads and Canals of the United States. Mr. Poor was a leader in establishing the financial information industry on the principle of “the investor's right to know.” Today, more than 140 years later, Standard & Poor's is the pre-eminent global provider of independent highly valued investment data, valuation, analysis and opinions and is still delivering on that original mission. What we bring to the marketplace: As the financial markets have grown more complex over the last century, the financial community has increasingly sought out Standard & Poor's rigorous, independent analysis, and information on stocks, bonds, mutual funds and many other complex investment vehicles. The critical thinking, opinions, news and data offered by Standard & Poor's have become an integral part of the global financial infrastructure. Our unique power: creating independent benchmarks
The heart of Standard & Poor's investment skill is its analysts, over 1,250
Our history: creating standards, carving out firsts Standard & Poor's plays a truly unique role in the capital markets. It has been aiding the creation of market transparency since its inception in 1860, when Henry Varnum Poor began supplying financial information at a time when Europe sought to know more about its holdings in the newly developing infrastructure in America. The cardinal tenet of Poor's investment reference publications was “the investor's right to know.”
Standard & Poor's has a long history of creating standards for the financial industry. For example, we were the first to rate:
On the equity side, we led the way with:
Today, Standard & Poor's employs more than 5,000 people working in 18 countries. As always, a beacon for the financial community Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE:MHP), provides independent financial information, analytical services, and credit ratings to the world’s financial markets. With 5,000 employees located in 19 countries, Standard & Poor’s is an integral part of the global financial infrastructure. For more information, visit www.standardandpoors.com. Founded in 1888, The McGraw-Hill Companies is a global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, Business Week and McGraw-Hill Education. The corporation has more than 300 offices in 33 countries. Sales in 2001 were $4.6 billion. Additional information is available at www.mcgraw-hill.com |
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Tyumen
Oil Company / TNK Tyumen Oil, established in 1995 and owned by the Russian Alfa Group and US-Russian Access/Renova, has proven crude oil reserves of more than 7.7 billion barrels and produces more than 760, 000 barrels of crude oil per day. It ranks No. 3 in reserves and No. 4 in production among Russian oil companies, and owns a chain of nearly 2000 gasoline stations in Russia and the Ukraine. TNK focuses on increasing the company value through introduction of high standards of corporate governance, production growth and effective cost-cutting campaign, improving margins of its downstream operations, and working our a comprehensive program to diversify into the gas and energy business. TNK International, the holding company, has the highest credit rating of any Russian corporate: “Ba3” by Moody’s Investors’ Services, “B+” by Standard and Poor’s Rating Service, and “B+” by Fitch Ratings. All ratings are with a positive and stable outlook. In 2002, TNK was named the world's “Best Oil and Gas Company” of 2000 by Financial Times Energy and in 2002 TNK received a Special Recognition Award for Outstanding Achievement in Corporate Governance granted by the Oil and Gas Investor. |
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World
Bank The World Bank Group is one of the world's largest sources of development assistance. In Fiscal Year 2002, the Bank provided US$19.5 billion in loans to its client countries. It works in more than 100 developing economies with the primary focus of helping the poorest people and the poorest countries. The World Bank Group is a development institution whose goal is to reduce poverty by promoting sustainable economic growth in its client countries. Development is a long-term process that ultimately involves the transformation of whole societies. It is about getting economic and financial policies right. But it is also about empowering people, building roads, writing laws, recognizing women, educating girls, eliminating corruption, protecting the environment, inoculating children-and much, much more. |
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