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Actions - Marchés émergents > Willerequity Russia & East. Europe p
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Dernière VNI (22/05/13) : USD 28.78 Souscription
Graphique - Pespectives - Performances - Allocation
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Pespectives
Perspectives - l'avis du gérant
Geneva, 02/05/2013 – The global backdrop is likely to remain difficult in 2013, characterised by risk-on/risk-off sentiment changes and Russian equities will continue to be driven more by global events rather than domestic. However, we remain cautiously optimistic for the Russian market and the following core assumptions for 2013 are positive for equities: a stable economic backdrop; double digit earnings growth for stocks outside of extractive industries, bigger dividend payouts; the P/E discount gap with EM peers is far too wide and not justified; risk-premium supporting the price of Brent is likely to remain in place, financial infrastructure improvements, continuing domestic political stability and possibly some “positive” surprises as Russia hosts the G20 and as the country prepares to host the Sochi Olympics. We think that when global investor confidence will recover to a sustainable level, the Russia re-rating story has the best upside among large EM countries.

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Performances
Périodes glissantes
1 mois 1 an 3 ans 5 ans Depuis le lancement
W-Russia and Eastern Europe 8.9% 16.8% 8.0% -41.8% 187.8%
MSCI EM E.Europe 8.3% 13.0% 15.7% -49.8% 75.2%

Années de calendrier
Ytd 2013 2012 2011 2010 2009
W-Russia and Eastern Europe -1.8% 16.0% -30.9% 21.1% 108.1%
MSCI EM E.Europe -3.9% 13.2% -23.3% 13.7% 79.3%

Sur 36 mois
Volatilité Rendement annualisé Sharpe Ratio
W-Russia and Eastern Europe 7.84 % 2.61 % -0.36
MSCI EM E.Europe 8.75 % 4.98 % -0.27

La performance du fonds ne tient pas compte des commissions et frais perçus lors de l’émission et du rachat des parts.

Allocation
Positions principales
SBERBANK 9.0%
GAZPROM OAO ADR 7.7%
LUKOIL HOL 6.7%
TRANSNEFT 4.5%
NOVATEK 3.8%
ROSNEFT OIL-GDR- 3.5%
BANK OF GEORGIA HOLD 3.4%
TATNEFT -ADR 3.0%
NMC NORILSK NICKEL 3.0%
MOBILE TELESYSTEMS 2.5%
Allocation par secteur
Energie 24.7%
Banque et finance 20.0%
Industrie, commerce 14.7%
Matériaux 5.9%
Télécommunications 4.1%
Cash 14.1%
Allocation par pays
Russia 62.1%
Turkey 5.0%
United Kingdom 4.8%
Poland 3.1%
Netherlands 2.9%
Cash 14.1%