Funds Europe has awarded Parex Banka first place in its Specialist InvestmentCompany of the year competition.

Parex Asset Management is the largest investment company in the Baltic regionwith more than $1bn of assets under management. With a core specialisation inthe Baltic States, central, eastern European and CIS markets, the firm offers adiverse range of investment products, covering fixed income, equities and realestate. The firm has an agreement with US venture capital company MVC Capital,which focuses on risk capital investment management in the Baltic region.

Parex has clients in western Europe, including Germany, and this was a factthat impressed the judges. Parex has grown well and is still expanding, havingrecently opened a representative office in Kazakhstan. As well as this, the firmhas subsidiaries in Lithuania, the Ukraine and Russia. In Latvia its marketcoverage has reached 58%.

Parex clients range from Baltic banks to pension funds and individuals, towhom it offers 11,000 foreign funds, alongside its own products. But what mostimpressed the judges was the firm’s tight focus on doing what its does best.“Parex is playing to its strengths,” noted one judge.