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. Last Updated: 07/27/2016

Survey Says Russia Tops For Investors

LONDON -- Russia remains the most widely tipped emerging market for performance in 1997 among fund managers, a survey released Thursday said.

It said widespread optimism seen in the last quarter of 1996 towards emerging markets had been sustained in the first quarter of this year, with Latin America and Eastern Europe more favored than even the economic tigers of Southeast Asia.

Commissioned by consultants Burson-Marsteller, the quarterly survey covers institutions managing over 80 percent of the total value held in global emerging market equity funds and 70 percent of all portfolio investment into emerging markets from the developed world.

Managers said Eastern Europe offers the best valuations. "Russia remains widely favored," the survey said. Outside Russia, Poland, the Czech Republic and Hungary are key markets. Slovakia, Ukraine and Croatia are also attracting interest.

The report also said the attitudes of emerging market companies toward corporate governance and shareholder value were increasingly impacting the approach of global investors, although total acceptance of these issues was felt to be a long way off.