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JPMorgan Russian Securities (JRS) Ordinary 1p

Sell:686.00p Buy:692.00p 0 Change: 3.00p (0.44%)
Market closed Prices as at close on 10 December 2019 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:686.00p
Buy:692.00p
Change: 3.00p (0.44%)
Market closed Prices as at close on 10 December 2019 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:686.00p
Buy:692.00p
Change: 3.00p (0.44%)
Market closed Prices as at close on 10 December 2019 Prices delayed by at least 15 minutes | Switch to live prices |
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

HL comment

The trust has underperformed the MSCI Russia 10/40 Index since 1 November 2006, falling 24.4%* compared with a gain of 4% for the index, in sterling terms.

JPMorgan has a well-resourced and experienced emerging markets team. We believe their approach of seeking companies capable of strong, sustainable earnings growth is sensible and over the long term they could deliver respectable results.

The Russian stock market currently looks inexpensive and investors brave enough to take a contrarian view on an out of favour area can reap the rewards over the long term. However, politics, commodity price falls and currency moves are just some of the risks to be aware of and only the most adventurous investors are likely to be brave enough to dip a toe in the water.

Potential investors should ensure they are comfortable with the risks, details of which can be found in the latest annual reports & accounts along with the charging structure.

View our full research note on JPMorgan Russian Securities Investment Trust plc »

Objective

To provide capital growth from investment in Russia. The policy is to maintain a diversified portfolio of investments primarily in quoted Russian securities or other companies which operate principally in Russia. The Company may also invest up to 10% of its gross assets in companies that operate or are located in former Soviet Union Republics.
Security Weight
PJSC Lukoil ADR 15.19%
Gazprom PJSC ADR 14.90%
Sberbank of Russia PJSC Participating Preferred 13.47%
Mining and Metallurgical Company NORILSK NICKEL PJ 8.63%
Tatneft PJSC Participating Preferred 7.15%
Rosneft Oil Co GDR 6.99%
NOVATEK PJSC GDR 4.81%
Yandex NV USD0.01 A 3.89%
Polyus PJSC ADR 2.94%
Polymetal International plc Ord Npv 2.89%
Sector Weight
Energy 51.18%
Financial Services 18.88%
Basic Materials 17.71%
Technology 5.22%
Real Estate 1.84%
Consumer Cyclical 1.82%
Healthcare 1.05%
Consumer Defensive 0.95%
Industrials 0.61%
Country Weight
Russia 95.02%
Cyprus 2.00%
United States 1.33%
United Kingdom 0.91%

Fee Structure

Management fee 1.0% p.a. of the Companys NA. Contract terminable on notice period of 3 months.

Dividend Policy

Company paying semi-annual dividends, ex-day on February and September.

ASSET SPLIT

Total number of holdings: 36.

Trust Manager

Oleg Biryulyov

Manager Bio

Oleg Biryulyov, managing director, is a regional portfolio manager and the head of the Emerging Europe, Middle East and Africa Group, with a specialisation in Russia and Eastern Europe, within the Emerging Markets and Asia Pacific Equities Team based in London. An employee since 1994, Oleg was previously a portfolio manager for Flemings Urals Regional Venture Fund. Prior to this, he was an investment analyst. Oleg obtained a degree in economics from Moscow State University, Lomonosov. He is a holder of the CFA designation.

Board Of Directors

Gillian NottChairman, Robert Jeens, Ashley Dunster, Tamara Sakovska, Nicholas Pink

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.