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. Last Updated: 07/27/2016

Russia Weighting Up

Peter Bennett of Bennett Capital Management is increasing his weighting of Russia and Slovakia in his $31-million Key Emerging Value Fund, according to Emerging Markets Week.


The manager has sold down holdings in Hungary and Poland to fund the new purchases, the publication reported in its July 15 issue.


Russian purchases include issues such as energy distributor Mosenergo and retailer GUM.


"We concentrate on the most liquid stocks," Bennett said, adding that the allocations likely will rise in September following planned visits to Russian companies.


As of EMW's July 15 issue, the fund was weighted 16 percent to the Slovak market, 22 percent to Israel, 18 percent to Poland, 15 percent to Hungary and 12 percent to Russia.


-- Erin Arvedlund





Fundwatch will be a periodic report on the activities of investment funds in Russia.