Since we last wrote on JPMorgan Russian Securities (JRS), Russia has been among the best-performing equity markets globally, despite being out of favour with international investors. The RTS Index has climbed above its 2014 pre-Crimea levels, before sanctions were imposed. Although economic growth has disappointed in 2019, earnings and pay-out ratios continue to grow. At a trailing price-earnings (P/E) ratio of just 6x, the Russian market remains extremely cheap.
13 Sep 2019
Outperforming and attractively valued
JPMorgan Emerging Europe Middle East & Africa Securities PLC Shs GBP (JEMA:LON) | 0 0 0.7% | Mkt Cap: 48.9m
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Outperforming and attractively valued
JPMorgan Emerging Europe Middle East & Africa Securities PLC Shs GBP (JEMA:LON) | 0 0 0.7% | Mkt Cap: 48.9m
- Published:
13 Sep 2019 -
Author:
Ed Marten -
Pages:
18
Since we last wrote on JPMorgan Russian Securities (JRS), Russia has been among the best-performing equity markets globally, despite being out of favour with international investors. The RTS Index has climbed above its 2014 pre-Crimea levels, before sanctions were imposed. Although economic growth has disappointed in 2019, earnings and pay-out ratios continue to grow. At a trailing price-earnings (P/E) ratio of just 6x, the Russian market remains extremely cheap.