It was a very difficult quarter and start to the year for Eastern European equities and one dominated by events in Ukraine and the subsequent annexation of Crimea, the net result of which caused Russian equities to sell off aggressively during the quarter. We also witnessed a sell-off in the ruble, but it is now trading at higher levels than before the crisis in Crimea. Despite international outrage at the events, they were actually popular within Russia and Putin’s …
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