Time to Putin some cash? Why this multi-manager is buying into Russia

Investors have been selling out of Russian equities since the country's stand-off with neighbour Ukraine escalated in early March and caused shares to plunge, but one fund manager has been buying back in despite ongoing tensions.

Having started the year fairly flat, the Russian Micex index plunged in late February as reports of additional soldiers being sent to the Crimea spooked investors. Shares fell more than 10% in a single day, and although the index has since come off lows seen in March, it remains 11.7% lower year to date. Tough-talking Russian President Vladimir Putin has continued to stoke tensions between the two countries since then, and world leaders have threatened Russia with sanctions if it does not back down. But Smith & Williamson multi-manager head James Burns has now bought his first dire...