JOHCM's Syme on a ‘huge regressive step' for Russia

JOHCM GEM Opportunities manager James Syme said Vladimir Putin's decision to run for the Russian presidency in 2012 has already proved negative for investors in the country.

In a rare show of defiance against the ruling United Russia party, public protests gripped Moscow on Saturday following disputed parliamentary elections - the largest manifestation yet of the unrest which helped push Russia's Micex index down 7.3% last week. But it was Prime Minister Putin's decision to again stand for the presidency in next year's elections, announced in September, that Syme said has already put a dampener on the prospect of investing in Russia. "The Putin announcement was negative for investors, particularly as it led to the resignation of finance minister [Alexei] ...