We are firm believers in the long-term investment potential of Russia and other FSU frontier economies that are set to show above average economic growth rates over the next decade, supported by rising investment and a strengthening in domestic demand.

We believe in active portfolio management: our investment team's skill set allows us to actively manage portfolios by combining top-down macroeconomic analysis and dynamic asset allocation skills with detailed bottom-up research and securities selection.

Unlike index followers who seek to match the market's returns by copying its composition, our goal is to beat the market over the long run. The best way to do this is to build funds that look nothing like the market. We run non-benchmark oriented strategies including the stocks and/or bonds that we like the best, regardless of their status in the index.

Consistent risk management and liquidity control over the portfolio investments represent a central element of our investment discipline. Our risk management practices are based on portfolio diversification and extensive use of derivatives for hedging purposes.