Global stabilisation could spark Russian market rally, says JPM

Holdings in the materials sector were the greatest contributor to returns for the JP Morgan Russian S...

Holdings in the materials sector were the greatest contributor to returns for the JP Morgan Russian Securities trust in April while an overweight in financials also led to outperformance. The fund returned 4.9% compared to the MSCI Russia 10/4 Capped Index return of 3.1% for the same period, according to the group. Underweights in telecommunications and utilities also had a positive impact on performance while investments in the industrials and consumer staples sectors detracted from returns. The group said the portfolio continues to focus on domestic consumption plays, infrastructure ...