Russian asset management firm, Agana, has launched an art fund, Financial Times reports. The Sobranie.Photoeffect focuses exclusively on photographs with a combined valuation of $467 million. The vehicle, which listed on the Moscow stock exchange last week, seeks to offer annual returns of about 12-14%. The fund, made up of Russian collections with the potential for adding current Russian photographers, will target foreign investors in the Russian market offering a safe investment money shelter, adds Reuters.

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