According to Bloomberg investors are fleeing Russia as demonstrators against
President Vladimir Putin dig in, exacerbating the impact of Europe’s debt
crisis on the country’s markets, money managers from Frankfurt to Moscow said.
Activists who clashed with police before Putin’s May 7
inauguration are protesting non-stop in Moscow, using the Occupy Wall Street
movement’s tactics. As the benchmark RTS equity index entered a bear market,
Russia-focused equity funds recorded $251 million of outflows in the seven days
to May 9, the most this year, while China lost $127 million, India $148 million
and Brazil $167 million, EPFR Global data show.
Tensions have risen as opposition leaders Alexei Navalny and
Sergei Udaltsov face potential charges punishable with as much as three years
in jail. The threat of a crackdown is intensifying a sell-off in equities,
bonds and the ruble sparked by Greece’s possible exit from the euro and the
falling price of oil, the country’s chief export, said Zina Psiola, CEO of
Granite Investment in Zurich….
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