About Us

Sova Asset Management (CY) LTD is a CySEC regulated Alternative investment fund manager.

We partner with clients to provide investments, tailored to individual needs.

We are an active manager with a long-term view on investing, a growth mindset and a transparent approach.

Your trust is our priority and our goal is to invest your wealth wisely.

Our Philosophy

We believe in investment solutions delivering sustainable, risk-adjusted returns for our clients. Our investment decisions are underpinned by in-house research executed by our team of specialists.

We pride ourselves on our agile and flexible approach to investing and our ability to capture hidden opportunities within the markets, which tend to be inefficient and mispriced.

With our dedicated industry expertise and robust investment processes, we take a specialist approach to investing on behalf our clients. We go the extra mile to identify the best strategies for our clients’ individual needs.

We run various investment strategies and products, investing across multiple asset classes in both the developed and emerging markets. Some investment strategies are thematic, utilise short positions, hedging and leverage. We endeavour to deliver returns with a combination of capital appreciation, interest and dividend income.

The Team

Mr. Alexey Smirnov

Chairman of the Investment Strategy Committee, Non-Executive Director

Mr. Alexey Smirnov

Mr. Smirnov has 15 years of experience in trading various asset classes and products in investment and brokerage companies as well as investment banks, including the leading private investment bank in Russia, Troika Dialog and Otkritie Capital International Ltd, Moscow. Mr. Smirnov was the Head of Trading at Sova Capital, London (formerly known as Otkritie Capital International Ltd), which is one of the leading brokerage companies in the Emerging Markets space, where he gained considerable experience in managing teams of professional traders and in strategic planning. Subsequently, Mr. Smirnov was appointed Strategic Financial Advisor to the CEO of Sova Capital, London. He is the Chairman of the Investment Strategy Committee and a Member of the Remuneration and Risk & Compliance Committees of Sova Asset Management (CY) Ltd. He graduated from Lomonosov Moscow State University with a Master’s degree in Applied Mathematics. He holds the FFMS Certificate 1.0 in Russia.

Mr. Alexander Bespalov

Head of Individual Portfolio Management Department, Member the of Investment Strategy Committee

Mr. Alexander Bespalov

Mr. Bespalov has over 13 years of experience in capital markets. He started as an equity analyst at Alfa Bank in 2008 and then spent over six years at the global investment bank Citi, where he held a Vice President position in the equity research department covering the Emerging Markets of Energy and Materials sectors. Since 2017, Mr. Bespalov has been involved in developing the European franchise of Sova Asset Management (CY) Ltd, having spent almost 2 years in Cyprus in the capacity of a Portfolio Manager and then from mid-2018 as a Member of the Investment Committee. From 2018 to 2020, he held the position of Investment Director at REGION Investments asset management JSC in Moscow, directly involved in building the investment team and processes and responsible for launching the firm’s retail operations from scratch. Since early 2021 Mr. Bespalov has been serving as a Portfolio Manager and a Member of the Investment Strategy Committee of Sova Asset Management (CY) Ltd. He graduated from Lomonosov Moscow State University with a Master’s degree in Applied Mathematics. He is a CFA Charterholder, also holding the FFMS Certificates 1.0 and 5.0 in Russia and the CySEC Advanced Certificate in Cyprus.

Mr. Denis Agaponov

Head of Collective Portfolio Management, Member of the Investment Strategy Committee

Mr. Denis Agaponov

Mr. Agaponov has more than 17 years’ experience in the investment industry. He started his career as an Analyst in Equity Strategy and Technical Analysis with Troika Dialog (Moscow) – Russia’s largest private investment company that was acquired by Sberbank of Russia. During his six years career with Troika Dialog, Mr. Agaponov held a position of Fixed Income and Equity Derivatives Analyst. In 2011, Mr. Agaponov joined Otkritie Capital International Ltd, first in the investment division of Russia’s largest private banking group Otkritie as a Senior Derivatives Analyst and later with the CySEC-licensed investment firm Otkritie Capital Cyprus Ltd, as Manager of Own Trading Account (specializing in equities, fixed income, and derivatives trading). After six years with the Otkritie group, Mr. Agaponov joined the Sova Asset Management (CY) Ltd team in 2017 as the Head of Portfolio Management. He graduated in 2002 from Moscow State University, with a Master’s degree in Economics Majoring in Quantitative Economics, where he was also co-lecturer of a course in Level I Econometrics. Mr. Agaponov is a CFA Charterholder and CySEC Advanced Certificate holder.


Privacy Policy
Cookie Policy
Proxy Voting Policy
Disclaimer 2022
Summary of Conflicts of Interest Policy
Clients Categorization Policy for MiFID II Services and Investor Compensation
Information to Clients (for MiFID II Services) for Handling Complaints
Extract for Best Execution Policy for MiFID II Services

ESG Disclosures

SFDR Remuneration statement 10 March 2021
No consideration of sustainability adverse impacts statement 10 March 2021
SFDR Sustainability Risks Policy Statement 10 March 2021


Thank you for your inquiry about employment opportunities at Sova Asset Management (CY) Ltd. Please send your CV to info@sova-am.com. Your personal details will be retained by us for a period of up to 12 months .