The S&P; Russia 10 index is comprised of 10 of the largest publicly-traded Russian stocks available to foreign investors through London International Order Book (IOB) GDR Listings.

As a commodity-based economy Russia presents many opportunities in the commodity sector. However as an emerging market with significant political risks, Russian equities can be highly volatile in addition to the general volatility that comes with commodity stocks.

The S&P; Russia 10 index is up 8.4% YTD.The constituents of this index are:

1. MMC Norilsk Nickel (OTC: NILSY)
2. Lukoil (OTC: LUKOY)
3. OAO Gazprom (OTC: OGZRY)
4. OAO Rosneft Oil Co
5. Novatek (OTC: NVATY)
6. VTB Bank
7. Surgutneftegaz(OTC: SGTPY)
8. Tatneft
9. RusHydro
10. Polyus Gold (OTC: OPYGY)

Note: All these stocks are traded on the OTC markes in the US markets and may be illiquid.