Expert access to attractively valued market

Russia’s economy benefitted for much of 2018 from a recovery in the oil price and rising prices for a range of other commodities. A weaker rouble has offset the recent oil price fall. Oleg Biryulyov, longstanding manager of JPMorgan Russian Securities (JRS), has many years of experience managing Russian equities. He is comforted by prospect of rising dividends over the coming year. When QuotedData last wrote on JRS, attention was drawn to Russia’s deteriorating relationship with the West and how this had impacted on foreign investors’ attitudes towards Russian stocks. Since this time, while sentiment has worsened; Russia’s domestically focused economy appears resilient and its companies are generally providing good earnings growth. Valuations and yields are therefore all the more attractive.