Russian Emerging Market Investment In Mutual Funds
Russia is a big emerging market investment opportunity. It is the world's largest landmass with 6.6 million square miles, but it has provided limited investment choices until now. There are mutual funds that invest in Russian companies, and also individual Russian companies that trade on US exchanges like ADRs.
These companies include Mechel Steel (MTL), Mobile TeleSystems (MBT), Rostelecom (ROS), Vimpel Communications (VIP), and Wimm-Bill-Dann Foods (WBD). There are an additional 37 Russian companies that trade over-the-counter (OTC). These "pink sheet" listed companies are part of a growing trend for even large companies like Gazprom and Lukoil, which seek to avoid the high cost and regulatory burdens that come with big board trading. You should be very careful when combing through pink sheet blue chips, however, and exercise patience, skill and judgment.