On 19 March 2009 Joint Stock Company ALROSA and Leader Asset Management signed an Agreement of Intent with a view to promoting formation and development of an organized market for investment diamonds. The purpose of the joint project is to offer an absolutely new investment instrument to the market that would be to the minimum extent susceptible to market fluctuations.
The agreement between ALROSA and Leader Asset Management provides for the Parties’ joint efforts in order to build an infrastructure for turnover of investment diamonds, assets that are least susceptible to market fluctuations. Under the Agreement an Investment Club will be established to promote turnover of investment diamonds in the Russian domestic market and world-wide.
The functioning of the Investment Club will be supported from a single centre, which will offer comprehensive services pertaining to organization of expert grading and certification of investment diamonds, hedging of diamond trade related risks and their reinsurance by international companies, creation of efficient indices of the investment gems market, market monitoring, and bank consulting and support.
Under the Agreement opportunities for establishing specialized equity instruments, e.g. commodity market mutual investment funds in which equity positions will be secured by investment diamonds, are to be explored.