Hermitage Capital Management Limited, the advisor to the largest Russia-dedicated fund -- Hermitage Fund.
Hermitage Capital Management Limited is a member of HSBC Group
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Awards
Hermitage Fund has been ranked No.1 by the major international rating agencies.

Fund of the Year
among
Emerging Market Funds

for 4 quarters, ending
January 01, 2006

The best performing fund
among
Emerging Market Funds

for 4 quarters, ending
January 01, 2003

The best performing fund
among
Hedge Funds

for 4 quarters, ending
September 30, 2002

The best performing fund
among
Emerging Market Funds

for 6 quarters, ending
September 09, 2001

The best performing fund
among
International Equity Funds

for 6 quarters, ending
September 09, 2001

The best performing fund
among
International Equity Funds

for 20 quarters, ending
March 31, 2001

The best performing fund
among
Overseas Funds

for 8 quarters, ending
December 31, 1998

The best performing fund
among
Emerging Market Funds

for 4 quarters, ending
December 31, 1997
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© 1996-2008, Hermitage Capital Management Limited
Important legal & regulatory information		 2-3 Golden Square, London, W1F 9HR, UK, +44 (207) 440-1777, +7 (495) 258-3160
info@hermitagefund.com