The Russian market has been rebounding on the back of a strengthening oil price but remains one of the cheapest emerging markets. The manager thinks the market could rise further from here. The economy is on an improving trend but, the manager believes that, if President Trump eases sanctions, this could provide a significant tailwind.

JPMorgan Russian Securities (JRS) offers the only pure play on Russia within the investment companies market. It comes with a yield of 2.8% and one of the most experienced investment managers in the sector, Oleg Biryulyov, who has been managing JRS since it was launched, and Russian equity funds for 23 years.