Aberdeen Asset Management Ltd. is investing in OAO Magnit, Russia’s largest retailer, as the economy’s expansion boosts consumer spending and spurs the best performance on the benchmark Micex Index.
“What we’re trying to build is an exposure to Russian growth, in particular, the growth of consumption, growth in the domestic economy,” Peter Taylor, senior investment manager at Aberdeen Asset Managers Ltd., said by phone July 13. “Our conviction has always been quite high” on Magnit, Taylor said.
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