Let’s repeat the American investment fund on Russian stocks


Who among us would not like to trade the way the leading hedge funds trade? It is unlikely that there will be such. But how can we, ordinary people, find out an idea and understand what to buy and what to sell? In this article, I invite you to take a look at the asset structure of the OppenheimerFunds to get a little closer to understanding their investment idea.

This US-based fund provides management services to advisors, individuals, endowments and institutions across each major asset class, primarily using mutual funds. This fund has several directions, but as part of this review, we will be especially interested in Oppenheimer Global (OPPAX), which invests in stocks from around the world to receive capital appreciation.

The fund’s capital is currently about $ 7.8 billion, it has existed since 1969. The fund in its structure is 99.5% composed of shares. For us, ordinary investors, the current structure of the fund is most interesting. Since he invests with a horizon of 3 years or more, it can be assumed that the existing portfolio and its composition can act as some kind of benchmark for making investment decisions.

The current structure of the fund is presented in the following sectors and proportions (according to Investing data).

Oppenheimer Global (OPPAX) Foundation Structure

A simple analysis shows that almost half of OPPAX is invested in the assets of technology companies (since communication services are quite close to technology companies), a significant share is occupied by the FMCG and industrial sectors, but the commodity companies, real estate and consumer sectors have an extremely small volume.

If you look at specific shares of the fund, or rather in key assets, then the picture will be as follows:

Key assets of the fund
Fund’s key assets

The assets presented represent 45% of the current portfolio. What is interesting for us here? The first thing to pay attention to is the number of long positions – there are 77 of them. This may indicate that Oppenheimer Global does not expect serious crisis declines at the current time. Secondly, there are indeed many technology companies in the structure of key assets. More precisely, at least 35% of the shares are to some extent technology companies. This suggests that fund managers are betting on technology as a tool for technological progress, which is generally quite understandable …

In general, if you trade American stocks, you can easily copy the structure of the fund into your portfolio, and it is likely that with a horizon of 3 years or more, you will make a profit on average higher than in the market.

Let’s repeat the fund on Russian stocks

However, if you are an investor in Russian stocks, then the structure of the portfolio may be interesting from the standpoint of setting up a portfolio of domestic stocks in an appropriate proportion. Alternatively, we will try to model a similar portfolio in terms of structure based on the data we already have, and in a year we will check what we have done.

Let's build a similar fund within the Russian market
Let’s build a similar fund within the Russian market

It is clear that the best entry points could be found for the selected assets, but we made entries from the position of a novice in the stock market at prices as of 09/04/2021.

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