Pictet Asset Management, one of the world’s largest investment funds, has announced plans to increase its portfolio of Russian stocks.

      In an interview with Bloomberg, manager Steven Barrows said the company is prepared to sell some of its Asian assets to re-direct funds to Russia.

      In particular, he mentioned Surgutneftegaz as a potential target.

      Mr Barrows praised the decision to increase dividend payments by state-owned corporations.

      He did not disclose the total size of future investment, though.