Equinox Fund Management is a specialist asset management firm, focused on selecting investments with outstanding return to risk ratios. We invest in the securities markets of Russia and the Commonwealth of Independent States (CIS) since 1996.

Equinox Fund Management is a specialist asset management firm, focused on selecting investments with outstanding return to risk ratios. We invest in the securities markets of Russia and the Commonwealth of Independent States (CIS) since 1996.

Investment Approach

Our investment approach is based on three strong pillars: a concentrated portfolio, active ownership and a long-term perspective. The Equinox investment process begins with a fundamental analysis of the evolving rules of the game, the rigorous screening of companies and extensive field research by our Moscow-based team. We look for companies or sectors that are in the early stages of change or recovery and which are still ignored by the market.

Having a concentrated portfolio of carefully selected securities allows us to closely scrutinise their issuers and accompany them throughout their development. Our engagement ranges from regular communication with the company to board participation and advice to management. Our philosophy, put simply, is that we invest for the long term as if we were co-owners. In our view, this is the only way to maximize value creation while controlling risks.

Investment Approach

Our investment approach is based on three strong pillars: a concentrated portfolio, active ownership and a long-term perspective. The Equinox investment process begins with a fundamental analysis of the evolving rules of the game, the rigorous screening of companies and extensive field research by our Moscow-based team. We look for companies or sectors that are in the early stages of change or recovery and which are still ignored by the market. Having a concentrated portfolio of carefully selected securities allows us to closely scrutinise their issuers and accompany them throughout their development. Our engagement ranges from regular communication with the company to board participation and advice to management. Our philosophy, put simply, is that we invest for the long term as if we were co-owners. In our view, this is the only way to maximize value creation while controlling risks.

“Actively monitoring corporate governance, controlling long-term risk.

“Actively monitoring corporate governance, controlling long-term risk.”

Risk Management and Performance

We do not define risk by short term volatility but by the probability of losing money in the long term. We believe that there is a profound difference between a volatile stock and a volatile business. There might be fluctuations in the share price of a company, but if the underlying business is strong and secure, there is reason to stay invested. We are regularly checking our selected companies against a set of investment criteria, such as ownership, leadership and business strategy. Holding cash or safer assets in times of adverse markets is part of the strategy. We are committed to achieving superior absolute returns while monitoring the risk inherent to the region. Equinox has delivered 23% annualized returns to investors from 2000 to 2020, and is set to continue driving performance going forward.

Risk Management and Performance

We do not define risk by short term volatility but by the probability of losing money in the long term. We believe that there is a profound difference between a volatile stock and a volatile business. There might be fluctuations in the share price of a company, but if the underlying business is strong and secure, there is reason to stay invested. We are regularly checking our selected companies against a set of investment criteria, such as ownership, leadership and business strategy. Holding cash or safer assets in times of adverse markets is part of the strategy. We are committed to achieving superior absolute returns while monitoring the risk inherent to the region. Equinox has delivered 23% annualized returns to investors from 2000 to 2020, and is set to continue driving performance going forward.

Equinox and ESG

We are convinced that active ownership is an essential means of initiating positive change within a company and, more precisely, in Russia and the CIS. Engaging in constructive dialogue is sometimes more effective than disinvestment. Equinox’s active approach as a shareholder, including the promotion of non-executive board representation, mitigates corporate governance risks and ensures that minority stakes are protected. We believe that environmental and social issues are led by corporate governance.

Working with a portfolio company on its dividend policy, professionalizing the activities and processes of its board, taking environmental concerns into account, improving transparency, investor relationships and taking care of the rights of minority shareholders is our daily job. We have been a member of the Russian Association of Institutional Investors (API) continuously since 2003.

Equinox and ESG

We are convinced that active ownership is an essential means of initiating positive change within a company and, more precisely, in Russia and the CIS. Engaging in constructive dialogue is sometimes more effective than disinvestment. Equinox’s active approach as a shareholder, including the promotion of non-executive board representation, mitigates corporate governance risks and ensures that minority stakes are protected. We believe that environmental and social issues are led by corporate governance. Working with a portfolio company on its dividend policy, professionalizing the activities and processes of its board, taking environmental concerns into account, improving transparency, investor relationships and taking care of the rights of minority shareholders is our daily job. We have been a member of the Russian Association of Institutional Investors (API) continuously since 2003.

Fund Manager

Equinox Fund Management
PO Box 60, Ground Floor, Cambridge House, Le Truchot
St Peter Port, Guernsey, GY1 4BF
Tel: +44 (0) 1481 234 200

 

Investment Adviser

Eurostep Representative Office
Office 205D, 113/1 Leninsky prospect
117198, Moscow Russia
Tel: +7 (495) 648 6792

Fund Manager

Equinox Fund Management
PO Box 60, Ground Floor, Cambridge House, Le Truchot
St Peter Port, Guernsey, GY1 4BF
Tel: +44 (0) 1481 234 200

 

Investment Adviser

Eurostep Representative Office
Office 205D, 113/1 Leninsky prospect
117198, Moscow Russia
Tel: +7 (495) 648 6792

Contact us