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News > Nanowerk Business News >
| Posted: April 1, 2008 |
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Troika To Manage $6 Billion For Russia State Nanotechnology Co.
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(Nanowerk News) Moscow-based Troika Dialogue Asset Management said Tuesday it has been hired to manage $6 billion of funds held by Russia's state nanotechnology investment company.
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"The role of Troika Dialogue will be to deploy the money before it is invested in nanotechnology," the asset manager's President Pavel Teplukhin told Dow Jones Newswires at a conference in Singapore.
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Russian Corporation of Nanotechnologies will entrust Troika Dialogue with the funds later this month, and the asset manager will invest mainly in the Russian bond market, Teplukhin said.
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The new mandate will more than double the asset manager's current portfolio, which now totals about $5 billion.
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Teplukhin said Troika will be paid a fixed annual management fee and there will be no performance-based compensation.
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Troika Dialogue Asset Management is a unit of privately-held investment bank Troika Dialogue Group.
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