Emerging Markets, Emerging Russia, Emerging Views
By Mark Robinson Head of Equity Research at UniCredit Securities
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Russian funds and ETFs saw cumulative net inflows of $214.5mn in the week to 24 February, EPFR data shows.
In contrast to the previous week, when ETFs drove the net positive, this time traditional funds brought in the majority of new cash ($198m vs. $16.5m).
Global emerging markets [...]
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By Ivan Anderzhanov
Ukraine’s new President Viktor Yanukovich vowed today to make his country “a bridge between East and West” after being sworn into office in Kyiv.
Yanukovych, who narrowly defeated Ukraine’s prime minister Yulia Tymoshenko to secure the post, said Ukraine is simultaneously part of Europe and of the former Soviet Union and should serve as [...]
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By Marcus Williams
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Emerging markets investment house Ashmore Group said half-year net profit jumped 40% to $172 million after markets bounced back.
The London-listed company had previously reported that assets under management increased $500 million to $31.6 billion in the three months to Dec. 31, due to $300 million of new cash and $200 million of positive [...]
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By Marcus Williams
Raiffeisen International is considering a merger with its Austrian parent group in a bid to reduce its funding and reduce exposure to the uncertain Central and Eastern European region.
The bank’s shares dropped as much as 10% following news on Tuesday of a possible tie-up.
Raiffeisen, the largest lender in Central and Eastern Europe, reported [...]
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By Marcus Williams
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Russia’s Renaissance Capital has hired former Merrill Lynch banker Clifford Sacks to lead its South African operation as part of its bold expansion into emerging markets.
According to a report in today’s Financial Times, the Johannesburg business will focus on metals and mining, oil and gas, financial and telecoms.
Renaissance said the bank intends to [...]
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By Mark Robinson, Head of Equity Research at Unicredit Securities
Russian and GEM funds saw slight net inflows in the week to 17 February 2010 thanks to money coming into ETFs, EPFR data shows. After three weeks of net outflows, Russia-dedicated funds saw an inflow of $13m: the positive $22m cash result of ETFs offset the [...]
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By Marcus Williams
Societe Generale, France’s second largest bank, and its partner Interros today announced they are combining their banking operations in Russia.
Rosbank and BSGV, will be merged into a single unit but still retain two separate brands.
The new entity will have the specialised mortgage and consumer lending companies Rusfinance and Delta Credit as its subsidiaries.
Societe [...]
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By Ivan Anderzhanov
Russia’s Renaissance Group has hired a former Blackrock star fund manager Plamen Monovski for its new investment arm in a bid to replicate the success of its investment bank.
The company said yesterday it had hired Monovski, formerly head of emerging markets at US fund giant Blackrock, as chief investment officer of the newly [...]
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By Ivan Anderzhanov
Bob Diamond, the chief executive of Britain’s Barclays Bank, is gearing up for expansion in Russia despite incurring a loss of 67 million pounds in the country last year.
The bank, which has announced a doubling of net profit in its 2009 to $14.71 billion, yesterday said Barclays is looking to increase its investment [...]
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By James Beadle from Market-Melange
On 4 February, the global financial community was enthralled with Europe’s Greek Economic play. On a quieter side stage, Lithuania gave a little performance of its own. As debt markets burned, it issued $2 bln of ten year bonds. Optimists can claim a great victory. In that week a raft of [...]
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Brazil is expected to be a major investment destination for global investors over the next decade according to Ashmore Investment Management, the leading specialist emerging markets asset manager. A largely closed economy with strong domestic demand, Brazil has weathered the credit crunch, is a net creditor country lending money to the IMF and should see [...]
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By Marcus Williams
Chris Morrell, the manager of JP Morgan’s emerging alpha plus fund is to step down, is to part company with the US banking group.
Morrell, who joined from Merrill Lynch in 2006, will be replaced as manager of the fund by Ashraf el Ansary, who has served on JP Morgan’s emerging markets team since [...]
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