The Russian Federation First Mercantile Fund lost 4.7% in the 1st Quarter of 2017 The Russian Federation first Mercantile Fund (“RFFMF”) gave up some of the strong 2016 profits (+69%) in the first quarter. The price of oil dropped 7% while the ruble continues to...
The Russian Federation first Mercantile Fund (“RFFMF”) had strong fourth quarter benefiting from a Donald Trump victory, which is seen hugely positive for Russia. In addition to the improved geo-political outlook, the price of oil (brent) increased 16% in the fourth...
The Russian Federation First Mercantile Fund had once again an excellent quarter, rising 11.5% and significantly putperforming the RTSI Index by 300 basis points. On a YTD basis, the Fund is now up a staggering 44% In the middle of the month, the Russian government...
Main takeaways from our visits to Moscow and St Petersburg Russia remains at the top of the world’s low cost producers of oil (est. cost $4/barrel) and gas thanks to the decline in Ruble and revenue in US $. Given the massive devaluation of the Ruble, Russia is...
The Fund had an extraordinary quarter, beating the benchmark significantly, which returned 2.3% for the quarter. On the 1st of July, the European Council decided to extend the economic sanctions that are currently enforced on Russia for a further six months due to the...
Russia is Moving Up! Russian Federation First Mercantile Fund BMG3474A1190, MSCI Russia Index and MSCI EM Index 2015-12-31 to 2016-04-22, data source: Bloomberg. After a somber Q4, the Fund rallied 29% in the first 3 months of the year, following what was a pick-up in...
