Emerging Markets, Emerging Russia, Emerging Views
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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Matthias Siller, a fund manager at Baring Asset Management, believes Russia’s huge commodities reserves mean it is best placed to supply the raw materials China needs in its bid to become the global economic power.
China’s industrialisation and urbanisation will require a colossal supply of raw materials, and while Russia’s energy reserves are well known, Siller [...]
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