Top market positions (#4 in assets under management as of December 31, 2018) and a sizeable market share (approximately 8% in Expert RA estimates) have moved the rating up.
The IT system quality, the investment framework and the level of risk management received high marks in business management assessment. A firm reliability of company’s counterparties is viewed as a positive factor (the share of assets under management including special depositories and depositories with a conditional rating ≥ “ruA-” in the total assets under management reached 98.4% as of December 31, 2018; such special depositories and depositories maintain registers of asset titles).
Company’s high operational efficiency was pointed out among other favorable factors. Impressive ratios of absolute liquidity (1.7 as of December 31, 2018) and current liquidity (3.85 as of December 31, 2018) are coupled with high equity net profit margin (94.4% in 2018). Company’s own equity reserve is assessed as high.
The clientele was recognized as greatly diversified. Total assets under management have grown by 13.1% between December 31, 2017 and December 31, 2018 which was considered beneficial. In that time period the Non-State Pension Fund assets performed at 9.9% while corporate customers’ assets under individual trust management showed 30.5 % dynamics. The robust performance was identified in Company’s management of market portfolios: the 3 year average weighted yield of the pension savings portfolio of Non-State Pension Funds reached 10.9%, the funds of corporate clients under Individual Trust Management was at 16.7% while the portfolio of military mortgage savings in the 1 managed year performed at 7.4%.
Quality of assets under Company’s management is identified as high. The agency also rated positively the high diversification of the managed assets.
As of December 31, 2018 TKB Investment Partners (JSC) managed the assets of RUB 533 bln while the Company’s own equity assessed under the Bank of Russia format at the same date equals to RUB 772 bln. Monitoring of the trust management market by Expert RA in the 4th Quarter of 2018 ranked TKB Investment Partners (JSC) #4 in total managed assets, # 4 in managed pension savings of Non-State Pension Funds, # 3 in managed insurers’ reserves, # 2 in managed military mortgage funds, and #2 in corporate funds under Individual Trust Management.
The trust and service quality rating of TKB Investment Partners (JSC) followed the Asset Managers’ Rating Methodology for Trust and Service Quality that came into force July 25, 2019.
Source: Rating Agency Expert (Expert RA)