Our performance has always been driven by well-defined investment themes. Today's portfolio balances The Fund's historic focus on value with event-driven strategies.
Seeking out under-researched, undervalued, but fundamentally sound companies has been, and remains, the top priority of our research team.
Many domestic consumer stories have stretched valuations and don't play a major role in the portfolio. But some sectors – Real Estate, Mobile Telecom and Pharma – allow value-driven exposure to the consumer theme.
Very profitable companies with annual dividend yield in excess of 5%.
Power Utilities and Fixed-line Telecom industries are at the late stages of the restructuring process. Greater transparency and tariff liberalization unlocks value often underappreciated and overlooked by the market.
Exposure to Asian Growth
Russia's trade pattern is in the midst of a fundamental shift. East-to-West export routes (to EU) are being replaced by North-to-South, as trade with China and Southeast Asia dramatically increases. Quorum picks Russian commodity players that benefit most from this shift.