UFG Asset Management UFG AM) provides asset management and investment advisory services for institutional and private investors wishing to invest in the capital markets of the Russian Federation and the CIS. UFG AM was founded in 1996 by Boris Fedorov and Charles Ryan, the founding partners of Russiaвs leading investment bank United Financial Group. In 2002 the Partners were joined by Florian Fenner. In 2003, UFG sold the investment banking business to Deutsche Bank, and separated UFG Asset Management from UFGвs investment banking activities, turning it into one of the leading Russian region focused alternative investment groups. In 2008, UFG AM sold in a similar two-step transaction its domestic retail asset management business (UFG INVEST) also to Deutsche Bank; the deal was completed in November 2011. All other UFG AM alternative asset management businesses - hedge funds, private equity, real estate and UFG Wealth Management - were not affected by the deal with Deutsche Bank and remained fully independent and in control of the founding partners, Charles Ryan and Florian Fenner.