Jupiter is suggesting to intermediaries now could be the time to start buying Russian equities. ...
Jupiter is suggesting to intermediaries now could be the time to start buying Russian equities.
Russia's economic and political fundamentals are starting to look reliably stable, according to Elena Shaftan, manager of the Jupiter Emerging European Opportunities Fund.
Speaking at the Investment Week Markets Forum 2003, she said a decline in the risk premium had helped drive the Russian stock market up by around 100 points since mid-2002. With a P/E ratio of 7.3 times, Russian equity is still some of the cheapest in the world, according to the group.
Shaftan added: 'We feel the oil price risk is being exaggerated, domestic liquidity is set to support the market and reforms, with Putin looking good for re-election, will sustain economic growth.'
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