OREANDA-NEWS. On November 29, 2007 Parex Asset Management IPAS (PAM) has been named European Specialist Investment Firm 2007 by Funds Europe magazine, as announced at Award Gala Dinner, reported the press-centre of Parex.

Robert Idelson, President, Parex Asset Management IPAS, commented on receiving the award: “We are very honoured to be the first Baltic company to receive this prestigious award from Funds Europe magazine. Marked with impressive growth and introduction of new products, the Year 2007 has been a significant milestone in the history of Parex Asset Management IPAS. Moreover, we are especially proud to receive this recognition as it acknowledges joint efforts of PAM's strong team of expert finance professionals.”

The winner in the category European Specialist Investment Firm of the Year has been chosen based on the particular investment speciality niche that the company has carved out, and the demonstration of a coherent company culture contributing to its success. The magazine also evaluated such k ey facts as assets under management, recent net inflows, performance figures, number of funds and a list of core markets. Among other winners of Funds Europe Awards 2007 were such world-known companies as Man Group plc, Societe Generale Securities Services, RBC Dexia, Fortis Prime Fund Solutions, Euroclear FundSettle Premier and UBS Global Asset Management - Fund Services. PAM was the only investment management company from Eastern Europe that received award from Funds Europe this year.