Emerging Markets, Emerging Russia, Emerging Views
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By Andrei Skvarsky.
Renaissance Capital plans to hire a staff of 15 by the end of 2010 for an office the Moscow-based investment bank has just set up in Hong Kong.
The employees will include sales and trading staff and four or five senior investment banking professionals with a focus on metals [...]
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By Ivan Anderzhanov
Russian investment bank VTB Capital intends to triple its Asian business by launching operations in Hong Kong and expanding further into China, Vietnam and India, according to a Reuters report.
VTB Capital currently employs about 30 people in Singapore, its only Asian office, which focuses on placing Russian government and corporate debt with Asian [...]
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By Ivan Anderzhanov
Russian investment bank Renaissance Capital has hired the former global head of equity derivatives at Credit Suisse Christopher Carter to lead its expansion into the asset class.
The senior recruit is the latest big name hire by Rencap, which has bounced back from the crisis by expanding aggressively into new emerging markets and by [...]
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By Ivan Anderzhanov
East Capital is diversifying from its Russian and Eastern Europe focus by acquiring Asia Growth Investors (AGI), a fund management company focussed on China.
AGI, which is Swedish owned like East Capital, was founded in 2004 by fund manager Gustav Rhenman.
East Capital, which managed about $6 billion, said AGI’s investment [...]
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By Ivan Anderzhanov
The emerging markets investment house Ashmore today launched a Greater China Fund to invest in Chinese equities.
The fund has a US dollar base currency and will invest primarily in on-shore Renminbi denominated investments permitted under the country’s Qualified Foreign Institutional Investor (QFII) scheme.
Ashmore was granted a QFII licence by [...]
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By Marcus Williams in London
Russian aluminum maker UC Rusal today reportedly raised $2.24 billion from its Hong Kong and Paris initial public offerings, after the company priced the shares around the middle of the range indicated in marketing literature.
Bankers said the listing could led to a trickle of further Russian listings in Hong Kong but [...]
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By Jason Corcoran
Ashmore Investment Management, the specialist emerging markets investment manager, has today been granted a license by the Chinese financial regulator to access their domestic funds markets.
The QFII licence and its pending quota permit Ashmore to invest in domestic Chinese securities across a range of underlying asset classes, listed on the Shanghai and Shenzhen [...]
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By Jason Corcoran in Moscow
MICEX and the Shanghai Stock Exchange (SSE) have today announced a memorandum of cooperation in the sphere of creating joint indices on the Moscow exchange and to launch exchange traded funds (ETFs) in China.
A delegation of the Shanghai Stock Exchange visited the MICEX on October 12. The two bourses agreed that [...]
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By Ivan Anderzhanov in Moscow
Standard Bank, the emerging markets banking group, has raised $1bn loan facility with four major Chinese banks in Macau today.
The four banks are Industrial and Commercial Bank of China (Macau) Limited; Bank of China; China Development Bank and China CITIC Bank.
The club deal was self arranged by Standard Bank and co-ordinated [...]
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By Ivan Anderzhanov in Moscow
Global emerging market funds were hit by net outflows of $946m this week as investors banked profits following concerns over liquidity in China.
Emerging markets registered net outflows of $1.63bn for the week to 19 August, according to fund trackers Emerging Portfolio Fund Research. This was the first outflow in eight [...]
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By Jason Corcoran in Moscow
Fund managers are pouring into emerging markets and are shifting away from China towards Russia, according to the Bank of America Securities-Merrill Lynch August survey.
Merrill Lynch’s Risk and Liquidity Indicator, a measure of risk appetite, rose to 41, the highest in two years, with investors preferring an overweight in emerging markets [...]
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By Jason Corcoran in Moscow
Emerging markets fund specialist Ashmore Investment Management is expanding its global footprint by opening offices in China and Japan and potentially in Russia.
A source close to Ashmore said it was already recruiting for an operation in China, along with a sales office in Japan. A formal presence in Russia is expected [...]
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