Russian equities are facing ‘challenging conditions' following the South Ossetia conflict, but growth in the region will not be inhibited, according to Neptune's Rob Burnett.
Burnett, head of European equities at Neptune, believes a combination of the Georgia conflict, recent oil price reduction and fears of state intervention in the company Mechel have ruffled investor feathers, with many managers pulling money out of Russia in recent months. Burnett says: “The convergence of these three factors has created challenging conditions for Russian equities. However, they are down to attractive valuations. “While we expect continuing volatility […] our outlook for the remainder of 2008 is very positive, with Russia still set to rank among the top performers globa...
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