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Julius Baer launches Russia Sicav

Julius Baer is launching a Luxembourg domiciled Sicav Russia fund in the UK market.

The fund will target investors seeking medium-term capital growth from high quality Russian companies and will invest largely in energy, wireless, telecom, utilities, financials and consumer staples companies.

The firm says the country’s equities are seen to be undervalued compared to peer groups in other emerging and developed markets and have been aided by rising oil prices, ruble currency stability and an increase in equity trading volumes.

It says Russia has risen 72 per cent in the year to date and outperformed the MSCI World Index by 65 per cent as at May 31.

Julius Baer Russia Fund portfolio manager Elena Ogram says: “While Russia has some challenges to overcome, including inflationary pressures and a fragile banking system, where ballooning non performing loans may undermine any economic recovery, valuations remain attractive and well supported by improving commodity prices. We believe that there is an upside to be gained by investors with local knowledge and remain bullish about returns in the medium-to-longer term.”


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