Is Russia Risky? Two Top Investors Disagree
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Europe's two best-performing equity fund managers over the past decade invest in Russia from offices three blocks apart in Stockholm. Their assessments of the riskiness of Russian stocks are miles apart.
Peter Elam Hakansson runs East Capital Group's Russia Fund, with €1.9 billion ($2.7 billion) in assets. If you had invested $10,000 in the fund 10 years ago, it would have been worth $97,700 as of Mar. 15. That return, an average of 26 percent annually, makes it the best-performing European stock fund that has more than $500 million of assets, according to Morningstar. (MORN)