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From Christine Gaylican, Opalesque Asia:
The good performance of Russian companies, while beating expectations in the second quarter, allowed Russian markets to perform well and recorded a 15.9% market growth in September-09.
This was indicated by GFIA, a Singapore-based financial advisor to the Wittenham group of funds, which includes the Wittenham Asia Core Fund and the Wittenham MENA Plus Fund, in its latest report quoting the MSCI-Asia Index.
“In Russia, the market was buoyed by plenty of good news. Positive earning results for 2Q released so far have been encouraging, with many companies exceeding consensus estimates. The Russia MICEX ended the month with a positive return of 3.5%,” the report said.
The Asia-Pacific markets excluding Japan surged 9.2 % while counterparts in the developed economies made a 4.7% growth.
The Middle East and Latin American markets recorded a 10.6% and 7.4% gains in their respective indices.
China and India made a strong comeback in September following a weak performance in August. Their economies have strongly recovered, recording 8.9% and 8.4%, respectively, GFIA indicated.
Wittenham Investment funds’ performance in August
With this development in the markets, GFIA’s unit Wittenham Investment Management Fund managed low but positive performances in August: their Wittenham Asia Core Fund returned 0.56% YTD and Wittenham MENA Plus Fund hit 6.97%...................... To view our full article Click here
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