Investors are flocking to Russia, and it’s not just about the short term world cup gains, Elio Manca, managing director of ITI Funds told thewealthnet.
The country is enjoying rapidly increasing levels of foreign investment from investors around the globe. State lender Sberbank recently reported that UK and US investors hold nearly 70 percent of its shares, while global investors were also the driving force behind Russia’s $4 billion Eurobond issue back in March.
Mr Manca, who is passionate about investing in Russia, highlighted five main reasons why Russia is becoming “a trophy destination” for investors looking for emerging market exposure.
Football focus is at the top of the list. “In the aftermath of the 2018 FIFA World Cup the country will have no doubt benefitted from billions of dollars worth of foreign money flowing into the country. Prior to the tournament, the Russian government said it expected the tournament to bring an extra $30 billion, which its central bank expects to add 0.2 percent to annual GDP in Q2 and Q3,” he said.
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