Hedge Funds

Renaissance manager keen on Russia and Turkey


The clear distinctions between emerging and developed markets are becoming increasingly redundant, according to Robert Holmes from Renaissance Asset Management.

The possibility that Greece could return to emerging market status, according to MSCI classifications, is an indication that the definitions have become increasing complex, says the portfolio manager for Renaissance Eastern European Allocation Fund.

He explains: “The differences between emerging and developed markets used to be much clearer especially in the 1990s and related more to simple metrics such as GDP per capita.

“Having this simplistic binary definition of emerging and developing markets has become increasingly redundant. But I wouldn’t