CAPITAL OUTFLOWS?

Over the last year, and increasingly in recent months, a great deal of comment has been made on the “torrent of capital outflows” that are leaving Russia. Prosperity Newsletter has written extensively about this subject in the past but felt the issue should be re-visited.

Mainstream opinion continues to have it that “capital is quitting Russia by the bucket-load”. The result is that most investment professionals are unwilling even to consider entering the market. The reality is, though, that there are many ways to interpret these numbers and, on balance, the outflow data overwhelmingly point to financial and commercial phenomena which reflect Russia’s growing economic strength.

» MORE » PROSPERITY NEWSLETTER: APRIL 2012

Russian Public Votes For Stability

• Putin Presidential victory closely aligned with a range of pre-election opinion polls
• 100,000 attend pro-Putin rally in central Moscow
• Authorized 14,000-strong opposition rally leads to 250 arrests - after some protesters refuse to disperse

Read more Prosperity's Political Update released 6 March 2012.

Russia's Economic Outlook

New economic climate in Russia? Prosperity's Chief Economist, Liam Halligan discusses Russia's economic future.

» MORE » SOURCE: BREAKING NEWS VIDEOS FROM CNN:COM

Prosperity Russia Domestic Fund Open-Ending

• Leading Russia-focused asset manager to raise more for "domestic stocks"
• Prosperity Russia Domestic Fund to be "open-ended"
• PRDF taps into Russia's fast-growing retail/consumer market - now the second-largest in Europe

Prosperity Capital Management has released a Prosperity Russia Domestic Fund Open-Ending Newsflash offering further information.

BLOOMBERG INTERVIEW WITH MATTIAS WESTMAN

• Russian Prosperity Fund Noted As 2nd Best Performing Large Hedge Fund Of 2010 By Bloomberg Markets Magazine
• Prosperity Capital Management Recognised As A "Bloomberg Best"

Mattias Westman (Founding Partner) discusses how Prosperity Capital Management seeks to access the considerable Russian investment opportunity whilst addressing the risks of investing in the region.

» MORE » BLOOMBERG MARKETS ARTICLE: A RUSSIAN ACTIVIST

Company of the Month

Sberbank - Bloomberg ticker SBER.RU - is the largest bank in Russia, boasting almost 50% of retail deposits, 35% of all loans and a balance sheet exceeding $330bn. With a 2011 return-on-equity of 28%, Sberbank is also one of the world’s most profitable banks.

» MORE» PREVIOUS COMPANIES OF THE MONTH

Latest Fund NAVs

• Get the latest Fund NAVs

Latest News

• Prosperity Newsletter 16 April 2012
• Special Report: Capital outflows? 16 April 2012
• » All News

Latest Blog Posts

• Market Update 16 April 2012
• Economic Update 16 April 2012
• » All Blog Posts

QUARTERLY INVESTMENT CONFERENCE CALLS

Please download slides, recording and transcription of the last calls.

• 24^TH APRIL 2011
• 24^TH JANUARY 2012
• 17^TH OCTOBER 2011

PCM FUNDS LEAD THE WORLD

Pursuing a "long-only, activist" strategy in Russia/FSU, 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.

» MORE

ANNUAL INVESTOR TRIP

Prosperity Capital is pleased to announce the dates of our 2012 Investor Trip. We will be delighted to welcome clients to Moscow on Wednesday 26th & Thursday 27th September.

As in previous years, the Investor Trip agenda will include presentations from senior members of the PCM team and panel discussions featuring leading company executives from Russia and across the FSU, as well as company visits and cultural/social events.

An optional trip outside of Moscow will take place on Friday 28th September, again including company visits and cultural/social events, for those who wish to spend a little more time in Russia and get to know the country better.

» PCM’s 15^th Anniversary Investor Trip 2011 attracted 120 delegates to Moscow. The agenda, photos and presentations are available here.

15^TH ANNIVERSARY: BUSINESS-LIKE INVESTMENT - IN RUSSIA, written by Mattias Westman

Download an essay to mark the 15th Anniversary of Prosperity Capital Management