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Citywire Scotland: Why Halligan has 90% of his net wealth in Russia
by Danielle Levy on Jun 15, 2012 at 11:40
Investors tend to allocate just a tiny portion of their portfolio to emerging markets, particularly Russia, but Prosperity Capital Management's chief economist Liam Halligan is refusing to follow the pack.
He says there is a strong domestic consumption story in Russia, and it has a currency which does not stand to be debased.
Russia was once regarded as a perennial bear in terms of markets, but increasingly it is being billed as having healthy potential for growth and improving corporate governance, prompting a raft of notable fund launches in recent years.
Halligan says that current valuations offer an attractive entry point to Russia, but adds that it has more to offer than just oil and gas. Speaking at Citywire Scotland he explains why he has channelled 90% of his own funds into the market.