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PCM FEATURES AT NYSE RUSSIA DAY

The outside of the iconic New York Stock Exchange, 3rd December 2012

On Monday 3rd December 2012, the New York Stock Exchange held a half-day event focused on investing in Russia. This high-level, invitation-only gathering was attended by over 200 delegates, including many leading US institutional investors.

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MEET THE SENIOR TEAM

Interview with Mattias Westman, Founding Partner Interview with Alexander Branis, Chief Investment Advisor

Emerging Markets Funds conference

On Wednesday 6 March 2013, Mattias Westman, Prosperity's Founding Partner, addressed the Edmond de Rothschild Emerging Markets Funds conference on Business-like investment in Russia. A video of Mattias' address is available.

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ANNUAL INVESTOR TRIP

In September 2012, the Directors and Staff of Prosperity Capital Management were delighted to welcome around 100 delegates to Moscow for our Annual Investor Trip.

The PCM Investor Trip provided the opportunity to meet and engage with all members of our highly-respected investment advisory team. Delegates were also able to hear from leading Russian entrepreneurs, foreign direct investors, government and regulatory officials and to visit some of PCM's portfolio companies in both Moscow and Nizhny Novgorod.

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CORPORATE GOVERNANCE UPDATE

During the recent AGM season, PCM-backed candidates have secured election to a raft of boards at some of our portfolio companies - including Cherkizovo, Gaz, Dixy, M-Video, Bashkirenergo, TGK-2, TGK-6, MRSK North-West and KTK.

PCM is an activist investor. Whilst "activism" can sometime involve vigorously pursuing minority rights, using overt legal means if necessary, much of our activism is constructive, involving sitting on company boards and using our almost 16 years of investment experience in Russia/CIS to advise management teams on how to improve their companies.

As Russia's corporate governance environment has improved in recent years, in fact, our activism has been increasingly "constructive" rather than "combative". Securing board seats, which we now generally fill with nominees we know and trust, rather than directly with PCM employees, is an important part of what we do. 

» MORE » BUSINESS-LIKE INVESTMENT IN RUSSIA WRITTEN BY MATTIAS WESTMAN (FOUNDING PARTNER)

Mattias Westman on Pussy Riot furore

» MORE » PROSPERITY NEWSLETTER: SEPTEMBER 2012

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: JUNE 2012

"A Steady-as-she-goes Government"

With the recent appointment of Prime Minister Dmitry Medvedev's cabinet, Russia's seemingly endless election season - comprising the Duma vote last December and the Presidential contest in May - has ended. The new government can now get back to the business of running the largest country and ninth-biggest economy on earth - the sixth-biggest in PPP terms.

» Read more from Mattias Westman (Prosperity's Founding Partner) offering a political update that was released in the June 2012 Prosperity Newsletter.

MATTIAS WESTMAN on Bloomberg TV+

"Westman Likes Russia's Magnit, Bashneft, Gazprom"
Monday 3rd December 2012

Mattias Westman, founder of Prosperity Capital Management, talks about investing in Russia and the outlook for the country’s stock market. Westman speaks with Ryan Chilcote on Bloomberg Television’s "Bottom Line." (Source: Bloomberg)

» MORE » BLOOMBERG INTERVIEW ON INVESTMENT STRATEGY, OIL STOCKS
» BLOOMBERG MARKETS ARTICLE: A RUSSIAN ACTIVIST

LIAM HALLIGAN on CNBC

"Outlook for the Russian Economy"
Thursday 20th December 2012

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Company of the Month

After an eleven-year long wait for the shareholders of Surgutneftegas and, for the first time since 2001, the company has now published its international accounts for 2012.

» MORE» PREVIOUS COMPANIES OF THE MONTH

Latest Fund NAVs

Latest News

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QUARTERLY INVESTOR CONFERENCE CALLS

To download slides or recordings of the latest calls, click on one of the below links and log in.

The next Quarterly Investor Conference Call will be held on 9th July 2013 at 3 pm UK

Corporate Governance in Russia - Reality & Myth by Alexander Branis

Book cover

Download an essay on Corporate governance in Russia

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

Book cover

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

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.

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