JPMorgan Russian Securities plc - Ordinary Shares - J.P. Morgan Asset Management
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JPMorgan Russian Securities plc
(GB0032164732)

JPMORGAN RUSSIAN SECURITIES PLC

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JPMorgan Russian Securities plc is the only investment trust providing pure exposure to the ongoing transformation of the Russian economy. The trust is managed by a dedicated team with first-hand knowledge of this complex market.

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About this trust

Risks

Performance

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Fees

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Portfolio

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Manager Commentary

Fund Managers

Board of Directors

  • Gill Nott

  • Alexander Easton

  • Robert Jeens

  • George Nianias

  • Tamara Sakovska

In their words (as of 30 Sep 2017)

The trust performed in line with the index in September. The market outperformed the broader asset class, aided by a strong oil price and positive macroeconomic data. Exposure to the energy sector added to relative returns, most notably our off-benchmark exposure to Nostrum Oil & Gas, a Kazakhstani exploration and production company. The stock rose sharply, on the back of strong 1H17 numbers; this is mainly attributed to the improvement in the oil price. In the financials sector, our lack of exposure to VTB contributed: the stock was hurt by disappointing quarterly earnings that fell short on loan intakes and margins. Due to capital allocation concerns, we prefer the quality and market leadership of Sberbank. In terms of detractors, our off-benchmark exposure to MD Medical Group Holdings, a private healthcare provider for women and children, proved to be a drag on relative performance. The stock has been negatively impacted as the first half of 2017 saw a dip in the number of births in Moscow. Despite these short-term headwinds we expect this company to continue to grow. In Russia, firming oil prices and steady rate cuts are supporting a recovery in absolute and relative performance of Russian equities. We have been waiting for this recovery for some time and believe there is ample room for this market to reclaim the leadership position in the region.

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Important information

This is a promotional page and as such the views contained herein are not to be taken as advice or recommendation to buy or sell any investment or interest thereto. Reliance upon information in this material is at the sole discretion of the reader. Any research on this page has been obtained and may have been acted upon by J.P. Morgan Asset Management for its own purpose. The results of such research are being made available as additional information and do not necessarily reflect the views of J.P. Morgan Asset Management. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are unless otherwise stated, J.P. Morgan Asset Management’s at the date of publishing. They are considered to be reliable at the time of publishing, may not necessarily be all-inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you.

It should be noted that the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Changes in exchange rates may have an adverse effect on the value, price or income of the products or underlying overseas investments. Past performance is not a reliable indicator to current and future results. There is no guarantee that any forecast made will come to pass. Furthermore, whilst it is the intention to achieve the investment objective of the investment products, there can be no assurance that those objectives will be met.

J.P. Morgan Asset Management is the brand name for the asset management business of JPMorgan Chase & Co and its affiliates worldwide. You should note that if you contact J.P. Morgan Asset Management by telephone those lines may be recorded and monitored for legal, security and training purposes. You should also take note that information and data from communications with you will be collected, stored and processed by J.P. Morgan Asset Management in accordance with the EMEA Privacy Policy which can be accessed through the following website www.jpmorgan.com/pages/privacy.

Investment is subject to documentation (Investor Disclosure Document, Key Features and Terms and Conditions), copies of which can be obtained free of charge from JPMorgan Asset Management Marketing Limited. Issued by JPMorgan Asset Management Marketing Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Registered in England No: 288553. Registered address: 25 Bank St, Canary Wharf, London E14 5JP.

*FE Crown rating as at 01 October 2017.

Moneyfacts award as at: 17 October 2017. ©2017 Moneyfacts Group plc. All Rights Reserved.