17 Feb 2010
Marshall Spectrum, the new emerging markets equity manager specialising in Russia and CIS launched by Spectrum Partners Ltd in April 2009, achieved strong performance in 2009 with both equity funds beginning well in 2010. Spectrum CIS Value Fund, a long only strategy investing in a diversified portfolio of small- and mid-cap Russian and CIS equities achieved a net return of 134.5% in 2009 compared to the MSCI Russia index return of 100.3%, an outperformance of 34%. The fund was up 5.5% in January 2010.
Spectrum Russian Phoenix Fund, a long/short equity fund investing in Russian and CIS equities generated a net return of 50.4% in its first nine months of trading in 2009. The new year began well for the fund, achieving a net gain of 5.6% in January 2010.
Russia’s equity market showed remarkable resilience in 2009 in its ability to recover from the steep market declines of 2008. Last year’s performance should help to rebuild investor confidence in the region's equity markets.
Michael Kart who is the lead fund manager of both funds, has a track record managing Russian and CIS equities since 2002. The Marshall Spectrum investment team has a combined experience of 40 years operating locally in Russia. Across the two funds, Marshall Spectrum has an aggregate of over $75 million in assets under management and carries a successful track record investing in the region's equity markets since 2003.
Spectrum Russian Phoenix Fund, a long/short equity fund investing in Russian and CIS equities generated a net return of 50.4% in its first nine months of trading in 2009. The new year began well for the fund, achieving a net gain of 5.6% in January 2010.
Russia’s equity market showed remarkable resilience in 2009 in its ability to recover from the steep market declines of 2008. Last year’s performance should help to rebuild investor confidence in the region's equity markets.
Michael Kart who is the lead fund manager of both funds, has a track record managing Russian and CIS equities since 2002. The Marshall Spectrum investment team has a combined experience of 40 years operating locally in Russia. Across the two funds, Marshall Spectrum has an aggregate of over $75 million in assets under management and carries a successful track record investing in the region's equity markets since 2003.
Michael Kart, Managing Partner and Fund Manager, Marshall Spectrum said: "We are very pleased with last year’s results. We were able to restructure our business at a corporate level by bringing in a private equity investor, as well as achieve strong performance across our funds that can be attributed to our active management approach, strong local presence and extensive information network in the region. Having successfully managed the recent market turbulence, we are now well positioned to grow our assets by attracting new investors in Europe.
“Russia’s long-term potential is impressive and we believe the region will continue to recover strongly over the next years. We are focusing on sectors relating to domestic demand such as consumer goods, power utilities, infrastructure and telecoms.”
