Dashevsky & Partners, the Moscow-based Russian event-driven specialist led by former UniCredit Securities and Aton Capital man Steven Dashevsky, has made good headway since launching its D&P Russian Special Situations Fund in December 2009.
The fund returned 21.9% in 2010 and is down a modest 2.7% this year to the end of August – giving an annualised return since inception of 11.1%. The total return for the MSCI Russia Index over the fund’s lifetime is 11.8%; the D&P fund has made 18.6% since inception.
The strategy focuses on event-driven opportunities in Russia and the former Soviet Union, but is also able to invest elsewhere in Eastern Europe and the Middle East. The portfolio consists primarily of equity positions, but the fund also undertakes a fair number of fixed-income trades.
Dashevsky has 19 years’ industry experience, having begun as a trading assistant at Brown...