Amplion Asset Management, part of the Catella Group, has announced it is winding down its presence in Sweden and Russia to focus on developing its fund management business based in Finland. In Finland, Amplion operates a value added/opportunistic property fund with institutional capital in investor clubs.

After closing the office in St. Petersburg, Amplion's partner in St. Petersburg, Evli Bank, will take over management responsibility for the EPI Russia I fund.

In Sweden, Amplion's current operations will be wound up through the three Swedish partners, Greger Hedlund, Örjan Johansson and Magnus Edlund, selling their interests in Amplion and continuing their operations in their joint company, Pine.

Amplion Holding's CEO Timo Nurminen said Amplion would focus on exclusive asset management engagements on behalf of individual clients in Finland and will continue to manage a Baltic fund. In addition, the company also has operations in France.

Amplion offers tailored investment solutions to institutions and private investors on selected European markets. Amplion has assets of more than EUR 450 mln under management.