Is Russia the next big value proposition? Star investor Rajiv Jain thinks so
New York — Rajiv Jain is unfazed by one of the world’s worst-performing stock markets. While Russia’s equities benchmark has declined 4% this year amid a global rally, the former star fund manager at Vontobel Holding has turned bullish on the country’s publicly traded firms. Russian companies have increased dividends and cut costs since the US and EU imposed sanctions on the world’s largest country in 2014 for its annexation of Crimea. "I was very negative on Russia," said Jain, who helped build Vontobel’s US unit into a $50bn powerhouse over the past two decades. "I’ve changed my mind because I think things are beginning to change." Jain resigned from Vontobel in March last year, causing the Swiss firm’s shares to tumble as much as 11% on the day of the announcement. He started investment boutique GQG Partners three months later and has since amassed $9bn in assets. Jain’s Goldman Sachs GQG Partners International Opportunities Fund, a partnership with the New York-based bank, has g...
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