New Europe is set for a sustainable period of solid growth driven by commodities, consumption and construction, according to JPMorgan.
The group's New Europe fund, managed by Oleg Biryulyov, is up 373.9pc over five years against the MSCI Emerging Market Europe index, which is up 309pc over the same period. Russia is the world's largest producer of oil and gas accounting for about 21pc of global gas production. It's also the world's biggest producer of nickel and the eighth biggest producer of gold. Demand for commodities is creating huge new wealth in the region and Russia, in particular, is now one of the world's top 10 economies by GDP. Russia was also the third largest contributor to global GDP in 2007, behind the...
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