Russian market 'misunderstood' - Geffen

The manager of the Neptune Russia & Greater Russia fund says his product is continuing to benefit from a “widespread misunderstanding” of the Russian market. He says robust consumer growth has been fuelled by three consecutive years of 20% pay rises at a time when property renting costs haven’t moved, mainly because the State is the largest landlord. “The Neptune Russia & Greater Russia fund continues to benefit from widespread misunderstanding of the Russian market,” he says. “Historical perceptions of the Russian stockmarket being resource-led are no longer accurate. “Indeed, the...