NRA Affirms Zerich Capital Management IC’s ‘AA’ Reliability Rating, Outlook Stable

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National Rating Agency has affirmed its 'AA' reliability rating on Zerich Capital Management IC (ZCM) a part of its investment company reliability rating monitoring procedure. The outlook for ZCM’s rating is Stable. NRA’s ‘AA’ individual reliability rating was first assigned to the company in 2008 and reaffirmed each consecutive year. The latest affirmation was on Dec. 16, 2015.

The rating affirmation reflects ZCM’s long track record of operations, sustainable stock market position, growing capitalization and earnings generation capacity. NRA has examined ZCM’s 2015 financials, which show that the company’s key financial performance indicators continue to improve. Its assets totaled RUB 2.9bn, a 32% increase on 3Q 2015. Its equity was RUB 372.7 as of Jan. 1, 2016. ZCM demonstrates consistent revenue generation. Its net profit for 2015 was RUB 118 million.

The company continues to be poorly diversified by business line. That said, NRA notes ZCM’s vigorous efforts to enhance its trust management and algorithmic trading business lines and thereby bring down the concentration risk.

NRA’s analytical products, including ratings and the contents of this press release, are statements of NRA’s independent opinion as of the date they are expressed and not statements of fact or recommendations to make any investment decisions or conduct any stock market transactions. NRA is not responsible for any results obtained from the use of opinions and/or information contained in this press release.

While NRA has obtained information from sources it believes to be reliable, NRA does not guarantee that this information is perfectly correct, complete and accurate, as it does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.