February 02, 2006 | Cbonds
|The Diamond Age Russia Fund has become the first foreign institutional|
investor to buy bonds in the Uzbek corporate debt market. This seminal
event is a most relevant testimony of the economic and financial integration
of the former Soviet Republics and global capital markets.
Ansher Capital announces that The Diamond Age Russia Fund has acquired a
meaningful position in corporate bonds of a leading Uzbek food producer and
distributor, and is working with Ansher on as many as seven additional diversified
investments which are in various stages of progression through the firm. These
include Diamond Age’s five equity positions (stocks) in addition to their debt
holdings (bonds), which allow investors to broadly participate in the emergence of
this dynamic economy and are not limited to any industry or sector specific trend.
The nation of 26 million, Uzbekistan has the largest population and one of the
most diversified economies in Central Asia. Rich in national resources, Uzbekistan
is the world’s 2nd largest cotton export, 7th largest gold producer and 10th largest (3rd in the CIS) national gas producer. Importantly, the publicly traded securities
market of Uzbekistan (in aggregate), has a very low correlation to the Russian
public securities market. The Uzbek market is NOT geared to hydrocarbons and
electrical utilities. Only with the passage of new laws, related to the ownership by
foreign investors, are hedge funds like Diamond Age allowed, for the first time in
history, to repatriate profits.
As such, this undiscovered and under-brokered country represents virtually
untapped potential in emerging growth themes and new opportunities in a variety
of sectors, at valuations deemed highly attractive by the sophisticated global
alternative investment managers. Additionally, 2,250 state-owned companies are
slated for privatisation over the next five years – truly a rare and valuable
Founded in 2004, Ansher Capital has become the leading investment banking
house in Uzbekistan and Central Asia. Ansher Capital is the recipient of the
Euromoney “Awards of Excellence”, including the Best investment bank in
Uzbekistan in 2004 and the Best investment bank in Central Asia in 2005. Ansher
Capital and Ansher Securities are the members of Ansher Group.
“We are delighted to successfully execute these transactions with Diamond Age,”
says Anvar Rasulev, Chairman of the Board of Ansher Group. “Indeed, the Uzbek
securities market provides excellent investment opportunities for international
portfolio investors. We are glad to assist Diamond Age to become one of the
first foreign institutional players to capitalise on these opportunities and are
investing our own capital side by side with our clients in sharing this profitable
“Diamond Age investors will continue to be rewarded as our original investment
mandate never changes. Diamond Age will continue to be of the early-stage
investors in frontier capital markets such as Uzbekistan,” said John Winsell
Davies, Managing Director of Diamond Age Capital Advisors. “We have
created a proprietary universe of some 300 companies domiciled anywhere on the
planet, with a core business focus on Russia and the FSU.”
In addition to its risk-adjusted Uzbekistan investment, The Diamond Age Russia
Fund represents geographic and asset allocation dispersion of 19 sectors, 16
currencies, and 15 asset classes, traded on 22 exchanges world-wide.
“Ansher Capital is committed to uncover undiscovered values in Uzbekistan and
Central Asia for international investors”, says Alisher Djumanov, a New Yorkbased
CEO of Ansher Group.
Ansher Group is the leading investment firm in Uzbekistan and Central Asia.
Through Ansher Capital and Ansher Securities, the Firm offers corporate finance,
capital markets, brokerage and advisory services to leading government and private
sector companies as well as major international investors in the region. Ansher
Securities is the only local institution in Central Asia to have a direct access to US
institutional investors through its US partner brokerage house Auerbach Grayson
Company: Ansher Capital
|Full company name||Ansher Capital|
|Country of risk||Uzbekistan|