Erste Asset Management - Blog

Artikel zu Schlagwort: Russia
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Gast-AutorIn / Guest Author am 28th November 2017

Emerging markets – not a pure commodities story any longer

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Gabriela Tinti was interviewed by Dieter Kerschbaum, Erste AM Communications.

 

The global economy is experiencing significant growth, and the emerging markets have felt the increased economic growth rates as well. Even in problematic countries such as Brazil or Russia, the situation has been picking up due to the increased oil price.

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Paul Severin am 07th November 2016

A slightly different view on Russia

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Alexandre Dimitrov, Senior Fund Manager for the Russia equity fund of Erste Asset Management, sums up his personal impressions of the investor conference in Moscow at the end of October. The picture is surprisingly positive…

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Peter Szopo am 27th February 2015

What has become of the “oil x 20” rule?

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The oil and gas sector is the backbone of the Russian economy. It contributes roughly a quarter to the Russian GDP, and it accounts for almost two thirds of exports. Oil and gas companies represent almost 60% of the market capitalisation of the Moscow stock exchange. It therefore makes sense to analyse the performance of the Russian equity market in connection with the level and development of the oil price. For a long time, the “oil x 20” rule of thumb would suggest that the fair value of the RTS, the Russian equity index, was 20 times the price of crude oil (as measured in US dollar per barrel of Brent). Especially equity strategists – always suckers for simple marketing ploys – would take a liking to this relation.

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