Investment Objective: The goal is to achieve long-term capital growth in the form of coupon income and price appreciation by investing into high yield fixed income securities of Russian issuers. Up to 20% of the assets can be invested in equities.

Investment Strategy: HYFI invests in a portfolio of ruble-denominated Russian high-yield corporate bonds which offer medium and long-term growth potential. Most of the companies do not have credit ratings from the leading rating agencies and thus bear a higher level of risk. HYFI invests in securities where an improvement in credit quality and/or a ratings upgrade is expected. Interest rate environment, market liquidity and fund flows into and out of the market are closely monitored to ensure portfolio optimization.

Minimum investment
The minimum investment is the ruble equivalent of $250,000.

Fees and commission
Our basic management fee is 1% annually, with a 10% commission on returns.