SPRING (Specialised Research and Investment Group) is an investment management company with over 18 investment professionals based in Moscow, with circa $300mn AUM. The company offers mandates in Russian utilities and Russian equities. SPRING funds have been consistently ranked among the top performing products by various rating institutions such as Bloomberg, Morningstar, Eurohedge and BarclayHedge. HH Generation, which invests in the equity securities of Russian utilities, gained 593% from inception (2005) to the end of 2010 while the RTS index gained 101% for the same period. The Russian equity fund SRG, from inception in 2009 to the end of last year, gained 102%, versus an index gain of 79%.