The assets value of the WellMax investment portfolio in dollars and euros in April 2016 increased by 1.14%, which corresponds to 13.68% profitability per annum. WellMax profitability in rubles amounted to 15.72% per annum, in yuans - 13.44% per annum.

Profitability growth ofthe WellMax portfolio in April, to a large extent, was influenced by the increase in stock’s price of oil and mining companies, mainly - from Brazil and Australia. The growth of quotations of securities on the materials sector was expected for us, and came as the result of the increase in prices of oil and iron delivered to China, which was clearly observed in the last two months.

Despite the disappointing results of the energy summit in Doha, held in mid-April, which demonstrated the actual impossibility of reaching agreements for the production control by the  leading oil states nowadays. The actual correction of oil prices has not occurred, and quotes very quickly proved to be exactly where we expected them to be in our previous review: in the range of 45 - 55 USD per barrel. Although, in our opinion, the increase of oil prices in the second half of April, was rather speculative and quite naturally broken by declines in early May. We believe that the moderate upward trend in the oil market is  to continue in the near future, that will allow “black gold” to feel quite confident at the level of 45 USD and above for a barrel of Brent in the perspective of two - three months.

We continue to observe an increase in consumer’s demand in China. This, of course, adds optimism to investors and support material and stock markets around the world. However, not all roses in the Chinese economy. In particular, not only the stabilization of the unstable economy has become the result of government’s stimulus measures in China, but also significantly increased total debt of China, which has reached record levels in April. Accumulatively, state corporations and the population of China owed their creditors about 25 bln. $. For comparison, the total state, corporate debt and public debt in Russia is currently estimated at an amount not exceeding $ 2 trillion. $.

Formation of the huge debt in China may contribute to cost-cutting of yuan. However, history is replete with examples of long-term sustainable combination of a high level debt with a strong national currency: the US, Japan and a number of other major economies. Will China manage and, most importantly, will the Chinese government want to avoid a major devaluation of the yuan in the near future? We believe that, more likely, yes. We reserve our forecast for China's currency’s stability unchanged for the next two months, and closely monitoring the situation.

The downward trend of the US dollar value, which lost from the end of November more than 8% against the European currency, is continuing. The weakening of the dollar leads to a change in the balance of the securities markets around the world. Understanding of the new trends and new price corridors helps us to earn more on the global and regional markets, improving dynamics of WellMax profitability.

Further developments in the securities markets, currency and material markets, as well as in the major economies, in large part, will depend on the forthcoming decisions in the coming months, the US Federal Reserve, European Central Bank and the Central Bank of Japan.

Uncertainties to markets are added by increasing prospects of Donald Trump entering the White House. Trump was the only candidate for US president from the Republican Party, ousted from the race other traditional representatives of the political establishment. Trump’s chances to beat the completion against the candidate of the Democratic Party, former Secretary of State and former First Lady Hillary Clinton are perceived by experts and investors increasingly seriously in the background of American voter’s tiredness of the usual parties in politics.

No matter how the events will unfold on the world markets – IFC’s clients win! Balanced structure of the investment portfolio, guarantee  of getting money back, experience and responsibility of analysts and asset managers provide stable high yield of WellMax regardless of the circumstances.