Managers optimistic on Russia despite markets halt

The RTS index - which comprises 50 stocks - has fallen 57pc since its 19 May high, with an 11pc drop in trading on Tuesday. Elena Shaftan, head of Jupiter's emerging European equities team, drew parallels with the financial crisis of 1997/98, though stressed there are marked differences between the Russian economic fundamentals of the late 1990s and those of today. "Back then it had only about 4pc of GDP in reserves whilst public debt was nearly 60pc, a budget deficit of 8pc, oil prices were less then US$20 a barrel the economy was shrinking," she said. "Now Russia is much healthie...