Neptune Russia & Greater Russia Fund A Accumulation 
HL comment
Our view on this Fund
During a challenging start to 2009, the Russian government made considerable efforts to ease credit conditions. This has been underpinned by the government's ability to draw on oil revenues. The oil sector has contributed to the strong performance of the Russian stock market, but a variety of sectors have done well. For example, the fund's bias towards the consumer sector has benefited from the emergence of Russia's wealthy middle class.
22-02-2010
Information from the fund manager
Please note: The information in this box has been provided by, and is issued by, the fund manager and not Hargreaves Lansdown.
HL group comment: Neptune
Our view on this Fund Management Group as a whole
Neptune Investment Management was formed as an independent and privately owned company by Robin Geffen in May 2002. Since then, the group has launched a number of core and specialist funds and have built strong track records that compare extremely favourably to their respective peer groups. One of the attractions of the firm is that it has created a company structure where employees can own a stake in the business aligning the goals of the fund managers and staff with those of investors. With excellent performance across some of the funds, we believe the company has bright prospects looking ahead.
06-05-2009
HL sector comment: Specialist
Our view on this sector
There is a wide range of funds in this sector - for example funds concentrating on bio-technology, financial companies, agriculture, property, commodities, or just investing in a single country. This difference in the area of focus makes it very difficult to draw direct comparisons between these funds. In general, the sector suffered during 2008 as some specialised areas fell heavily, then rebounded strongly in 2009. There are plenty of quality funds in this sector for investors willing to look past the increased levels of risk and volatility.
23-02-2010