Magna Russia Fund February 2009 (Click for PDF)

The Russian market had a relatively good February, with share prices tending to rise as the focus of investors switched to the deteriorating situation in Eastern Europe with both the oil price and the rouble showing signs of stability. There were also a number of positive company-specific developments. As a result, the Magna Russia Fund closed the month up 8.1%, outperforming its benchmark by 2.3%.