Emerging Markets, Emerging Russia, Emerging Views
From the category archives:
By Emerging Manager Focus
Morgan Stanley Investment Management (MSIM) has launched its Emerging Manager Program (EM Program). Seeking to provide capital, strategic advice and infrastructure solutions to emerging asset managers, “EM Program” will partner with long-only (equity and fixed income) and alternative minority and women-owned asset managers.
The program has a specific emphasis on minority and women-owned [...]
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By Marcus Williams in London
Stock markets in emerging economies of Brazil, Russia, China and India registered double or triple-digit gains in the noughties compared to the US equities market which shed almost 20%.
Emerging market rallied more strongly than their emerging market counterparts over last year after being hit more severely by the 2008 international credit [...]
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By James Beadle from Market-Melange
“Dear Prime Minister Kubilius,
First, let me wish you Happy New Year and offer my congratulations on a successful 2009. It seems odd to describe a year in which GDP declined by double digits as “successful,” but as you have pointed out, Lithuania had been growing faster than its developed European peers, [...]
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By Marcus Wlliams
The East Capital Russian Fund run by the Swedish investment firm has returned 1,524% in dollar terms during the past decade which is 561% better than the second best fund and 826% better than the benchmark index RTS over the same period.
The fund has – since its inception in 1998 – invested in [...]
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While the majority of hedge funds in the region have their operations located in the Brazilian cities of Sao Paulo or Rio de Janeiro, Argentina, despite the political and economic uncertainty that continues to affect the country, has attracted its share of funds as well. Almost all funds located in the country are headquartered in [...]
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Jerome Booth, Head of Research at Ashmore Investment Management comments on the global backdrop for emerging markets over the past year and forecasts an encouraging future for EM asset classes.
Reviewing some of the key themes in 2009:
· Whilst there was global disruption to cross-border finance, the main negative impact on selected emerging countries has been [...]
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By Marcus Williams
Research strategists at Goldman Sachs are going long on Russian equities in 2010 on the basis that the country’s growth rate will rebound sharply.
Goldman is forecasting that real GDP will rebound to +4.5% in 2010 and accelerate later in the year after a steep 9.5% decline this year.
Compared with other developed and emerging [...]
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By Vladimir Osakovsky, Head of Strategy and Research for UniCredit Securities
We expect Dubai World’s debt problems to be successfully resolved in the not-too-distant future. We think that all outstanding problems with maturing debt likely to be settled either through restructuring the debt, or through repayment from sovereign funds or possibly IMF assistance.
On Sunday, the UAE [...]
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By Jerome Booth, head of research and Ousmene Mandeng, head of public sector investment advisory at Ashmore Investment Management
SUMMARY: The recent re-imposition of a financial transactions tax in Brazil has led to renewed press speculation about capital controls. Brazil has since followed with more measures to encourage capital outflows, and further market friendly measures may [...]
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By Rustam Botahev, Senior Analyst at Unicredit Securities
Bank Saint Petersburg plans to raise $200m in a placement of convertible preferred shares, Bloomberg reports. The announced price range for the issue is $3.1-3.6, which implies a premium of 3%-19% to the Monday’s (the day before the announcement) closing price on MICEX of RUB 86.79 ( [...]
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By James Beadle, Global & Emerging Market Strategist, Market-Melange.com
Russia’s under-performance relative to its BRIC peers is justified and well-explained. Yet, it also creates upside potential. Russia is beginning a new development phase, which creates opportunity and makes it an attractive buy for 2010.
The potential for decisive progress is limited and many systematic problems will remain. [...]
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By Jason Corcoran in Moscow
The London Stock Exchange believes dual Russian stock listings in Moscow and London will endure in spite of plans to curb the amount firms can sell overseas.
The new rules, which are due to come into force from January 1, aim to restrict domestic companies from running to foreign exchanges by retaining [...]
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