RUSSIA - Troika Dialog Asset Management has reported returns of 20.87% since the start of 2010, outperforming inflation rates of 4.4%.

The Russian manager attributed the double-digit returns to an aggressive investment strategy and a 5% reduction in stock market investments.

Anna Vedernikova, government clients director at Troika Dialog, said: "We remained committed to our aggressive investment strategy, while also slightly reducing the share of equities in the portfolio from 50% to 45% relative to the previous quarter."

Over the longer term, Troika returned 10.3% since its inception in 2004, and the fund manager has amassed RUB2.5bn (€63.4m) in assets under management.