Kerr Neilson, the MD and co-founder of Platinum Asset Management continues to increase exposure to tech stocks - this time it's in Russia

Kerr Neilson, the MD and co-founder of Platinum Asset Management continues to increase exposure to tech stocks - this time it's in Russia. The hedge fund Platinum has just under $6 billion in assets in global equities, half of which is in tech stocks. The most recent 13F from the SEC shows that Platinum has gone from holding 1.3% of payment provider, Qiwi (NASDAQ:QIWI), to 10.3% of the stock. TechnInsider reports: Qiwi PLC is a provider of payment services across physical, online, and mobile channels in Russia and throughout the Commonwealth of Independent States. The current position amounts to 2.35 million shares - 10.20% of the company's total common stock, up from the previously held nearly 318,000. Qiwi's profits have showed an increasing trend in the past 3 years, the company providing a return on equity of around 70.00%, compared to the industry average of 17.70%. (VIEW LINK)