August 22, 2011 / 10:55 AM / 8 years ago

UniCredit's Pioneer mulls Russia strategic options

MILAN, Aug 22 (Reuters) - Pioneer Investments, the asset management arm of Italian bank UniCredit SpA , is weighing strategic options for its Russian business, Pioneer said on Monday.

Evaluation of options for the Russian operations follows a strategic review of Pioneer in April and the process is in an early stage, Pioneer said in a statement.

“It is important to emphasise that Russia remains a strategic market for UniCredit, our parent company, and therefore we will ensure this business is properly serviced and supported,” the statement said.

Russian business newspaper Kommersant reported on Monday that UniCredit had put its open investment funds in Russia up for sale.

Pioneer Investments Management oversees three open investment funds in Russia. (Reporting by Ian Simpson; Editing by Hans-Juergen Peters)

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