Russia 'to overtake EM peers' in 2012

Natalie Kenway
clock • 3 min read

Emerging markets managers have tipped Russia to soar ahead of its EM peers in 2012, driven by higher oil prices, weak valuations and Vladimir Putin's economic reforms.

Putin regained the presidency just over a week ago with 64% of the ballot, sparking fresh protests over the validity of the elections. However, fund managers expect his return will help usher in structural changes, allowing the economy to accelerate and attracting investment. Templeton’s Mark Mobius said Russia is the emerging market to back this year, while Jupiter’s Elena Shaftan has moved to a large overweight position, predicting Russia will re-rate. Meanwhile, Barings’ Ghadir Abu Leil-Cooper has over two thirds of her $2bn Eastern Europe fund in the country. Managers said valuati...

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