Going long in Russia

The UFG Russia Select Fund, due to launch on 1 December, is a long/short fund maintaining a long bias to capitalise on what the group sees as huge potential in the country.

According to UFG, Russia is one of the few countries insulated from the potential impact of a US-inspired global double-dip recession, with a GDP current account surplus of 9%, 80% reserves to import coverage, GDP growth of 4% and debt levels which have fallen from 120% of GDP to 40%.

While almost every other major index has f