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Alternative Market Briefing

The Big Picture: Russia is misunderstood, says Emerging European hedge fund manager

Monday, August 27, 2012

An Opalesque column for macro investors.

Benedicte Gravrand, Opalesque Geneva:

SG Alpha, an investment management boutique specialising in Emerging European equities, has written a paper in response to a Financial Times article, which advocates dropping Russia from the BRIC nations block (which also includes Brazil, India and China). According to this article, the Russians are corrupt, rude, autocratic, drunk, and difficult to do business with, and the country’s population and political relevance are decreasing (Time to blackball Russia’s autocratic state - By Ian Bremmer and Nouriel Roubini, May 29th, 2012).

SG Alpha’s Emerging Europe Fund, a long/short equity hedge fund, is +4.69% net for the USD class and +3.63% net for the EUR class share since its December-09 inception, compared to the MSCI EE USD Index's performance of -9.96%, and the Eurekahedge EE & Russia Hedge Fund Index’s performance of -6.50% (est.) for the same period.

Corruption The FT article cites Transparency International’s Corruption Perceptions Index, which ranks countries/territories based on how corrupt their public sector is perceived to be. Out of 182 points, Russia ranks 143rd – along with Azerba......................

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