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Friday, 16 December 2016

Investors pile in as Russia comes in from the cold

Investors pile in as Russia comes in from the cold:
"Investors have ploughed the most cash into Russian equity funds over the past week since 2011, as a higher oil price and signs US president-elect Donald Trump will seek to thaw relations with Vladimir Putin encouraged flows.

Russian stock funds recorded inflows of $451m in the week to December 14, the biggest haul since the first quarter of 2011, according to data tracker EPFR. Mutual funds and exchange traded funds invested in Russian bonds had their largest inflows since February 2015.

The sharp rise in the oil price since the Opec cartel’s agreement to cut supply last month is proving a boon to ETFs and mutual funds with mandates to invest in Russian assets. Some of the largest funds have seen assets rise by as much as a third since late November, when Opec ministers struck their accord."

'via Blog this'