“LESS RISK, LOWER RETURN” – that was the title of one Russian investment bank’s prognosis for portfolio investments in Russia in 2003. The argument that Russia had emerged from the wild fluctuations of the 1990s (and so triple-digit returns) and was approaching a fair-value equilibrium was appealing. Once again, though, that line of reasoning seems to have been completely wrong.
The leading RTS (Russian Trading System) indicator has bounced about almost as much over the first half of this year as it has always done.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
