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Fund Favors Turkey as Russian Election Nears

Bloomberg

... legislative polls. The MICEX Index has climbed 9.3 percent this year, tracking a rally in London-traded crude oil, the country's main source of export earnings. The Russian equity gauge is valued at 5.7 times profit, the lowest in three years relative to MSCI's gauge of global emerging markets, monthly data compiled by Bloomberg show. "It's not a negative view on Russia long term, it's just that we can find better opportunities elsewhere," said Vecht, whose London-listed trust has topped the...

Equity Investors Send $237M Russia's Way at the End of January.

Vedomosti

... million, starting last spring, said Sergei Yezimov, a portfolio manager at Wermuth Asset Management. Investor reactions in December were excessive against the background of political risks, Verno Capital portfolio manager Bruce Bower said. "The MSCI Emerging Markets index then dropped 1.3 percent, versus a 10 percent drop on the Russian market," Bower added. In Russia, investors are concluding that the political situation is still stable, Bower said. He expects inflows to continue. Investors...

'Cheapness' Gap Closing as Russia Attracts Cash Inflow

Bloomberg

... "several billion" dollars of client funds invested in Russian equities through "active and passive" investing strategies. "The Russian benchmark index has gained 10 percent this year compared with a 14 percent return for the MSCI Emerging Markets Index. "This is the biggest allocation since mid-April," said Chris Weafer, chief strategist at Troika Dialog. "Investors have finally responded to the strong relative start for Russian equities and boosted investment...

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