The fund traded at a discount of 12 percent to its net assets last week before the announcement. It invests at least 80 percent of its holdings in Russia or Eastern European countries and has stakes in companies such as Magnit PJSC, the country’s largest retailer, and OAO Sberbank.
“We are still invested in Russia,” Mobius said. Mining and raw materials producers along with consumer stocks are the most interesting sectors in the market, he said. “Some of the oil and gas companies are very interesting, but most of them are subject to these limitations and constraints that we have, and we can’t buy.”