Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

PineBridge aims to treble Russia exposure to 60%

PineBridge aims to treble Russia exposure to 60%

The PineBridge Emerging Europe Equity fund is seeking to treble the proportion of its assets it can invest in Russian companies.

Subject to investor approval later this month, PineBridge intends to raise its allocation to Russian shares from 20% to 60%.

PineBridge explained in a statement: ‘Locally listed Russian shares trade at a discount to depositary receipts and there are a number of Russian companies that cannot be accessed through depositary receipts.’

The group added that investing in locally listed businesses would reduce the fund’s costs as well, but would not change its risk profile.

Managed by Catrin Haden, the $46 million fund has returned 17.3% over the past five years compared with 15.6% by its benchmark MSCI EM Europe 10/40 index, according to Lipper.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Citywire TV
Play HSBC's Stephen King warns of 'enormous' Brexit deficit danger

HSBC's Stephen King warns of 'enormous' Brexit deficit danger

Brexit will weaken the economy, fail to boost exports and lessen the country's ability to fund its 'enormous' deficit, according to HSBC's senior economic adviser Stephen King.

Play Premier's Smith: electricity and water can be a good mix

Premier's Smith: electricity and water can be a good mix

Exposing your person to electricity and water simultaneously is ill-advised, but what about your portfolio?

Play Citywire 10k: video highlights

Citywire 10k: video highlights

Citywire held its sixth annual charity run last week, which hosted over 200 people and raised £14,000. Here are the video highlights.

Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter