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Welcome to PCM
PCM is a leading Russia-focused asset manager controlling assets of around USD 3.3 billion on behalf of an international and institutional client base
Russian public equity markets and the national currency have weakened on heightened geopolitical tensions over Ukraine and reports of United States of America ("US") intelligence briefings to European North Atlantic treaty Organisation ("NATO") allies with concern of advancing preparations for a Russian invasion of Ukraine.
For the occasion of the 25th anniversary of the inception of the Russian Prosperity Fund, Mattias Westman (Founder) has prepared a message reflecting on the last 25 years and detailing the ongoing development of the firm’s investment methodology.
PCM has prepared a detailed investor update on the PCM funds and the prevailing public equity investment opportunity amongst Russian and Former Soviet Union companies.
"We always tell ourselves that we own parts of actual companies, not simply pieces of paper"
Founded in 1996, PCM employs a long-only, fundamental value, active and engaged shareholder approach that seeks to access the public equity investment opportunity amongst Russian and Former Soviet Union companies
PCM employs the same investment philosophy and methodology across all of the assets under management, though broadly the investment vehicles can be separated into two strategies; fundamental value and special situations.
The fundamental value strategy seeks to access companies that have come further along the transformation from Soviet-era “production units” to more modern “Western-style” corporations, whilst the special situations strategy seeks to identify the triggers for these changes much earlier in the process.
There is a level of overlap between the two strategies and consequently the investment vehicles also. In general, as the fundamental value strategy is investing in companies that are more developed, they tend to be larger, more visible, better listed and more liquid than many of those in the special situations strategy.