The Outcomes: TKB Investment Partners is among Leaders for 2018
The 2018 ranking by The Kommersant newspaper names TKB Investment Partners JSC among top 10 Russian asset managers in three categories
TKB Investment Partners Asset Manager became the advisor to the world’s first ever Russian Equity Fund with a socially responsible approach to investment
Alfred Berg Ryssland, a Swedish fund under TKB Investment Partners’ advisor, is strengthening its ESG integration strategy.
Rosbank became a new partner to TKB Investment Partners
A new investment tool - structured investment product – is now available to Rosbank customers. The product was jointly developed by Societe Generale Group analytics and the TKB Investment Partners asset manager.
Russian Equities Weekly 06-10/05/2019: Low beta to EM drop
Last week, the Russian equity market contracted by less than emerging markets (EM) overall. The RTS index fell by 2.7%, while the MSCI EM index dropped by 4.5% (all figures in US dollar terms). The import tariffs hike on Chinese products by the US, and the failure of the latest round of trade negotiations between the US and China led to a general contraction on global equity markets. Russia was less affected than EM on average due to the relatively small impact of the trade war news on oil prices and the generally healthy fundamentals of most Russian companies in the index.
Russian Equities Weekly 29/04-03/05/2019: On hold over the holidays
The Russian equity market ended in the black last week, rising by 0.2% in US dollar terms, but underperformed its peers: the MSCI EM index rose by 0.5% and MSCI World index gained 0.3% in US dollar terms.
Russian Equities Weekly 22-26/04/2019: Down together with EM
The Russian equity market contracted last week following a downward trend in emerging markets: the MSCI EM index fell by 1.3% in US dollar terms.
Russian Equities Weekly 15-19/04/2019: Oil jump optimism
The Russian equity market ended in the black for the third consecutive week, outperforming its peers. The MSCI World index rose by 0.1% and the MSCI EM index gained 0.3%, in US dollars terms. A rise in oil prices continued to support the Russian market.
Russian equities: slow growth means higher yields
The consensus view is that Russia is not a growth story. We fully agree. Over the next three years, we expect annual sustainable free cash flow growth to be close to zero. When companies do not see many growth opportunities, they normally return cash to their shareholders or pay off debt.
First lifting of sanctions: Rusal, En+ and EuroSibEnergo are no longer in the US special designated nationals list
On the 27 January the US Treasury Department excluded Rusal, En+ and EuroSibEnergo (ESE) from the special designated nationals (SDN) list. The regulator took this decision on 19 December last year. Within 30 days the US Congress had the chance to block this action, but failed to so.