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Get ready for Gazprom

Miton Optimal is increasing its exposure to Russia in anticipation of the removal of restrictions blocking foreign investors holding shares in oil and gas stock Gazprom.

The Russian parliament’s energy affairs committee approved the proposed changes last week in a move that will make Gazprom the world’s biggest emerging market stock. This will in turn double Russia’s weighting in the MSCI global emerging markets index.

The bill will undergo its first reading in the State Duma on November 23 after a delay of more than two years.

Miton global fund mana- ger Sam Liddle has bought into the Magne Russia fund saying the stock is massively undervalued, one of the key reasons being the lack of an open market for its shares.

Liddle says: “Gazprom is set to become the biggest company in the emerging market universe and raises Russia as a percentage of the index encouraging strong cash inflows from index investors.

“GDP per capita is growing faster than any other emerging region, the debt to GDP ratio is low and falling and it has the strongest current account surplus of emerging regions.”


Capita plans package deal

Capita will use its acquisi- tion of Quay software to offer a combined administration outsourcing and back-office package to big IFAs and other distributors. Money Marketing revealed in September that Capita was set to buy Quay as a way of inc-reasing its presence in the financial services market. Capita managing director Steve Parkinson says the […]

Scottish Life appoints Shields as head of individual business

Scottish Life has appointed Barry Shields as head of individual business with immediate effect.The pensions specialist arm of Royal London is hoping to grow its proposition in the individual pension market place.Shields team will be responsible for supporting the individual and Talisman 98 propositions and for developing the Sipp propositions for the post A-Day market.

Basic instinct

Lender profile Andrea Tryphonides talks to The Mortgage Business MD Nigel Payne about getting back to basics.

Compensation challenge

After much lobbying, the FSA has finally agreed to look at the Financial Services Compensation Scheme afresh.

Artemis Global Income: favouring Europe over the US

With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]


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