increased asset allocations in former soviet union good for Pictet's eastern european trust
Increased asset allocation to the booming Russian market has driven up the NAV and share price of the Eastern European Trust managed by Pictet Asset Management. The trust, run by Douglas Polunin and Antoine Khmelnitsky, outperformed its benchmark by 133 basis points for the 12-month period ended 31 January, according to the firm's final accounts released at the end of March. Over the time period, the ordinary share price of the trust rose 10.2% in sterling, while the NAV rose 6.7% in dollar terms. The trust aims to achieve long-term capital growth by investing in a diversified portfol...
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