07.06.2010 Emerging Markets Go From Niche to Mainstream

Many institutional investors are fundamentally rethinking their approach to emerging markets

Jerome Booth, head of research at $33 billion-in-assets Ashmore Investment Management in London, was having lunch in Munich last month with a large German institutional investor who was crowing about changes he had made to his portfolio. After years of hearing Booth preach about the need to dramatically increase exposure to emerging-markets economies, the investor excitedly announced that he had shifted his conservative stance and doubled his allocation — to 10 percent. Unimpressed, Booth deadpanned, “So you’re still comfortable with 90 percent in the crash zone?”

04.08.2008 At home in the sun after the cold, mean streets of Moscow
Carl Mortished talks to the chief executive of Hermitage Capital about Russia and the gulf between it and the new focus for his business.

24.07.2008 Foreigner's Investment in Russia Is Derailed by Kremlin's Might
William F. Browder was one of the most prominent foreign investors here, a corporate provocateur who brought the tactics of Wall Street shareholder activists to the free-for-all of post-Soviet capitalism. Until, that is, the Kremlin expelled him in 2005.

09.04.2008 Exposing Russia's corporate 'corruption'

Bill Browder claims office raids are part of criminal elements in law agencies.

07.04.2008 Hijacking the Hermitage Fund
by Jason Bush
BusinessWeek.com

Hermitage Capital Management alleges that a massive fraud attempt in Russia, which even included the police, nearly made off with hundreds of millions

04.04.2008 Hermitage Capital cries fraud in Russia

Hermitage Capital, the leading foreign portfolio investor in Russia, claims it has been the victim of an attempted fraud and theft of hundreds of millions of dollars by individuals connected to the Russian Interior Ministry.

02.04.2008 Barred From Russia, He Refocuses His Strategy on the Middle East
One of the largest investors in Russia has turned his eye to the Middle East, hoping to make a profit before the growing bubble there bursts.

08.11.2007 Kings of the Wild Frontier Markets
Bill Browder, famed founder of the Hermitage Fund and a pioneer in Russian shareholder activism, says you can make money in investing when thing go from ‘good' to ‘very good;' but you can make much more when they go from ‘appalling' to just plain ‘bad.'

27.04.2007 Hermitage effect to extend beyond Russia
Bill Browder is perhaps the best example of the potential dangers of activist investing. The Moscow office of his Hermitage Capital Management has been bugged, his staff intimidated, he has been sued for defamation and, finally, the largest foreign investor in the Russian stock market was barred from the country 16 months ago as a threat to "the security of the state".

27.04.2007 Browder raises $625m to broadenshare activism
Bill Browder, Russia's best-known activist investor, has raised $625m to export his Hermitage Capital brand of hedge fund activism to South America, the Middle East and Asia.

25.01.2007 Kremlin Makes Davos a Priority This Year

In a sharp reversal from the past few years, a high-powered Kremlin delegation led by First Deputy Prime Minister Dmitry Medvedev is at Davos this week to make the case for investing -- and trusting -- in Russia.

30.05.2006 Driving positive change in Russia
William Browder provides a rare insight to the thinking that drives the USD 3.2 billion Hermitage Fund, the world's largest Russia-dedicated investment fund.

28.04.2006 The barred investor in Russia who is a breed apart
Everyone who invested in Russia during the past five years has made money, thanks to natural resources and the emerging markets boom that lifted Russian equities 83 per cent in 2005. But friends and competitors alike acknowledge that Bill Browder is a breed apart.

26.04.2006 LSE head in written warning to Putin
The head of the London Stock Exchange has taken the extraordinary step of writing to Vladimir Putin, Russia's president, on behalf of Russia's largest foreign investor, who has been denied permission to enter the country since November.

13.02.2006 The Radical
Earl Browder was the biggest Communist in America. His grandson William is the biggest capitalist in Russia.

06.02.2006 More Mismanagement From Moscow
Vladimir Putin is seizing his nation's energy industry, and for international investors, it's caveat emptor.

08.01.2006 Russia's powerhouse
Last week's reduction in gas supplies to Europe threw Gazprom, the scariest company in the world, into the limelight.

02.10.2005 IN PUTIN'S POCKET?
The Russian oligarch is $9bn richer after selling his oil company to the state. But as Boris Berezovsky, his former partner, tells Sylvia Pfeifer the deal has only increased questions about Abramovich's relationship with the Kremlin.

02.06.2005 When Betting on Russia, Kremlin Is the Wild Card
This week's guilty verdict for Russia's oil billionaire Mikhail B. Khodorkovsky capped a long-running tale that rocked the country's financial elite, upset foreign investors and prompted criticism from the White House.

16.05.2005 Four Myths About Russia
The situation in Russia isn't as bad as it's made out to be. Bill Browder, general director of the Hermitage Capital Management investment fund, says that a few myths circulated widely over the past couple of years are preventing people from seeing some real changes for the better.

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