Russia ETF Swells as Valuations Lure Bargain Hunters - Bloomberg:
"Investors are piling into the biggest exchange-traded fund tracking Russian equities at a record pace as the cheapest valuations in emerging markets and easing tension in Ukraine spur bets stocks will rebound.
The number of outstanding shares in the Market Vectors Russia ETF (RSX) has soared 59 percent since early August to 94.5 million, the highest level since April 2011. The demand is building after the fund tumbled 12 percent in the last three months to trade near a five-year low.
The ETF is swelling as investors speculate that Russian stocks, which have dropped the most in the world this year as international sanctions curbed growth, will recover amid signs the seven-month conflict in Ukraine is easing. Foreign Minister Sergei Lavrov said yesterday the country will recognize the results of parliamentary elections in the former Soviet republic as a cease-fire entered its eighth week."
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