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. Last Updated: 07/27/2016

Swedes Launch Fund

Swedish investment bank Enskilda Securities and Westman & Leander-Engstrom Investment Management have started the closed-end Russian Prosperity Fund. Minimum investment in the fund is $100,000 and the first funding stop ends Sept. 12.

The investment manager of the fund is Westman & Leander Engstrom Investment Management, whose strategy is to invest in liquid stocks of Russian enterprises and identify companies that are undervalued.

The fund's founders are Paul Leander-Engstrom, a former partner with investment bank Brunswick, and Mathias Westman, former head of the Russian department of Swedish investment bank Alfred Berg.

The Prosperity Fund's directors group includes Anatoli Daurski, general director of Red October candy factory; Leonid Fedun, deputy general director of Russian oil giant LUKoil; and Sergei Rumyaishchev, deputy general director of Mosenergo.