Hexam raises Russia weighting to 50%

Marina Akopian, Hexam’s $70m EMEA Absolute Return fund manager, says she has steadily boosted her weighting in the former Soviet state since March, currently at the 50% maximum allowed. She says the country’s fixed investment growth recently hit 27.2%, a 15-year high. “Russia is no longer just a commodities play,” Akopian says. “The fixed investment growth in the economy compares favourably to China and it is benefiting a number of sectors.” She cites banking, utilities, telecommunications, construction and cement as sectors worth investing in. With retail sales up 15% in June after a...