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The Transformation of the Russian Economy
Martin Charmoy, Director of Marketing at Prosperity Capital Management, a sponsor company at the marcus evans Global Investors Summit 2015, on why global investors should add Russia to their investment portfolio.
LONDON, Sep 08, 2015 - (ACN Newswire) - "Investors must truly do their field work and have a local presence in the country they plan to invest in order to be successful," advises Martin Charmoy, Director of Marketing at Prosperity Capital Management.
Prosperity Capital Management is a sponsor company at the marcus evans Global Investors Summit 2015, in Montreux, Switzerland, 5 - 7 October.
- Why should investors consider Russia?
Russia has a very unique history; it has been through two significant crises in the last 20 years, the 1998 banking crisis and the 2008 global financial crisis. We are now in the new era of the Russian economy. I believe most people do not understand Russia and still have the perception of Russia as the former Soviet Union. People have a strong opinion about Russia and most of them do not want to update it.
The Russian economy is now very similar, in terms of structure, to Western countries. Every time we have visitors in Moscow coming to visit our company or some of the companies we are invested in, they are shocked to see that Moscow resembles any other Western city, including the bad traffic and coffee chains.
- Why do you believe Russia is misunderstood?
I think Russia has suffered from media bashing from the Western press. Most mainstream Western media portrays Russia negatively, and they rarely mention any positives, such as the improvements over the last 20 years.
Due to the lack of knowledge and a lack of understanding of Russia, investors do not spend the time to go to Russia to see for themselves how Russia has positively changed over the last 20 years.
- Why is active investing critical to success in Russia?
When investing in an emerging market, the biggest threat investors need to consider is the corporate government risk. Investors can mitigate this risk through active investing, particularly in Russia. Asset managers must engage potential companies to identify the good and bad company managers. Shareholder value is often created in companies that are in the midst of a transformation, be it a merger, corporate restructuring, change of control or management or an on-going sector consolidation. During such periods, it is important to safeguard good corporate governance standards. An active approach can be a major contributor to enhance shareholder value.
- Which industries should investors explore in Russia?
Investors can find opportunities across all sectors in Russia. Oil and gas continues to be an attractive sector. The current trend is to invest in companies who have benefited from the expansion of the Russian middle class such as companies in food retail, agriculture and telecommunication. Between 1996 and 2014 the average salary in Russia went from 65 dollars to 1000 dollars, if investors are able to locate which companies have been able to benefit from this trend they would be making a very profitable investment.
- Will Russia introduce capital controls?
It has been a rumour since 2014 and has never been seriously considered by the Russian authorities. Russia is an open market and it would clearly not be beneficial to Russia to put in place these types of controls. We do not think that capital control is on the Russian government's agenda or has ever been on their agenda.
Pull Out Quote in PDF only: People have a strong opinion about Russia and most of them do not want to update it
About the Global Investors Summit 2015
The Global Investors Summit is the ultimate meeting point, bringing leading investors from around the globe with international fund managers and consultants in an intimate and focused environment. Taking place at the Fairmont Le Montreux Palace, Montreux, Switzerland, 5 - 7 October 2015, the Summit includes presentation on monitoring macro movements, replacing underperforming investments, strategies in higher risk asset classes and revisiting risk management strategies.
For more information please send an email to press@marcusevanscy.com or visit the event website at http://discovery.marcusevans-summits.com/.
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The Investment Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
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Please note that the Summit is a closed business event and the number of participants strictly limited.
About Prosperity Capital Management
Prosperity Capital Management is one of the leading Russia-focused asset managers in the world, with around USD 2.0bn of assets under management.
Prosperity's investment philosophy is based on a long-only, bottom-up, fundamental-value, active investment approach. We seek to benefit from the significant value generated from the ongoing modernisation, restructuring and consolidation processes in our investee companies. We also actively work to improve corporate governance and mitigate corporate governance risks. In general, Prosperity's investment philosophy can be described as a bottom-up search for companies that are adding value through internal modernisation and consolidation. www.prosperitycapital.com
Contact:Luzdary Hammad,
Press Manager, marcus evans, Summits Division
Tel: +357 22 849 385
Email: press@marcusevanscy.com
Source: marcus evans Summits
Sectors: Daily Finance, Daily News
Copyright ©2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network. |
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