OREANDA-NEWS. July 12, 2010. Asset Management Company of the Bank of Moscow (AMC of the Bank of Moscow) has changed the strategy of investing in the Mutual Fund "Star Boulevard — Stars of the Securities" to expand the investment opportunities of the mutual fund share owners. Now the investment portfolio of the fund will be replenished with foreign securities of the BRIC countries (Brazil, Russia, India and China).

It will make it possible to diversify the investment risks in the Russian market by investing in the securities market of countries with a fast-developing economy, and to increase the income bearing ability of investments.

"Our analysts have evaluated the foreign securities from the point of view of reliability and income bearing ability, as we want not only to diversify assets of the mutual funds, but also to increase their income bearing ability. The mutual fund structure will include securities of the most attractive branches, that is, oil and gas, financial, metallurgic and telecommunication branches. The mutual fund portfolio will include shares of the largest companies of the BRIC countries like Petrobras, Vale, China Mobile, PetroChina, and Reliance Industries along with the stars of the Russian securities market — shares of Gasprom, LUKoil, Sberbank and Norilsky Nickel. We are sure that the availability of foreign securities will attract additional funds to the fund", — Elena Kasyanova, CEO of AMC of the Bank of Moscow, marked.

The proposed structure of the Mutual Fund "Star Boulevard — Stars of the Securities" with a breakdown by countries will appear as follows: 30% for Russia, Brazil and China, and 10% for India. The branch structure of the portfolio will presumably appear as follows: oil and gas — 38%, financial sector — 29%, metallurgy — 17%, communications and IT — 11%, other branches (consumer sector, mechanic engineering, etc.) — 5%.

"According to evaluations of the World Bank, the nominal gross domestic product of the BRIC countries will grow from 8.6 trillion USD in 2008 to 13.1 trillion USD in 2012, and the share in the world gross domestic product will grow from 14.5% in 2008 to almost 20% in 2012. The growth of contribution of the BRIC countries’ share in the world economy will become possible due to the outstripping growth rate — it is expected that the real average annual tempos of the BRIC countries" economy growth will reach 6.7% in 2008—2012, while the world growth tempo will stand just 2.2%", — Vladimir Vedeneev, Head of Asset Management Department of the AMC of the Bank of Moscow, commented.