FDI into Russia growing as weak rouble tempts investors back, says EPFR

FDI into Russia: Overseas investors have committed almost $500m to Russia in the past seven weeks, and that figure is  growing by the week, according to the Emerging Portfolio Fund Research (EPFR). Inflows into funds focused on investments in Russia amounted to $ 46.7m last week, it reports,  some $13m more than in the previous week.
Investors are primarily being attracted by low prices,  Gazprombank analyst Andrey Klapko believes. “Against the background of the stabilisation of the geopolitical situation around Ukraine, the recovery of oil prices and the strengthening of the rouble, international investors are showing interest in undervalued rouble assets,”  he said last week. According to his calculations, Russian companies are trading at a P/E  ratio of  5.7, less than half the average in other emerging markets.