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Prosperity Capital Management has launched a new Russian recovery vehicle to follow in the footsteps of the original Prosperity Quest Fund - which has risen 47-fold since inception, returning an annualised 45% to our investors.
Pursuing a "long-only, activist" strategy in Russia/CIS, PCM's three main funds, all open-ended and unleveraged, have returned 3,604%, 1,828% and 1,605% in the last decade. The returns - all net of fees and in dollar terms - place PCM funds first, second and third of all funds in the world between December 1999 and December 2009.
2nd July 2010
Mobile telephony offers defensive, highly liquid and relatively inexpensive exposure to the broad pattern of growing domestic consumption in Russia/CIS. The mobile industry proved very resilient in the face of the sharp macroeconomic contraction in 2009, showing a 4% growth in aggregate revenues, stable profitability and robust free cash flow generation» MORE
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