Telegraph May 30, 2014
David Reid, manager of BlackRock’s Emerging Europe investment trust, says Russia is now as cheap as it was after the financial crisis.
The BlackRock Emerging Europe investment trust, managed by David Reid and Sam Vecht, has grown well over the past five years, returning 61pc. By contrast the MSCI Emerging Markets Europe index is 42pc higher.
Since 2011, however, the trust’s fortunes – and those of the markets it invests in – have taken a turn for the worse. Political tensions, the eurozone crisis and America’s curtailment of “quantitative easing” have weighed down on both investor sentiment and share prices.
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