Russia: Klondike or Eldorado?

Jochen Wermuth presented his in-depth investment thesis on Russia at European Investing Summit 2012.

Foreign investors have struggled with Russia for a long time. Corruption, disregard for minority investors, and a dependence on the commodity cycle are some of the key concerns. While most long-term investors tend to dismiss Russia outright as a result, this lack of interest may have just created the classic contrarian opportunity. In this session, Jochen addresses common misconceptions about Russia, explains some of the inefficiencies that are peculiar to the market, and shows how investors can take advantage of these inefficiencies to reduce risk and generate strong returns in this neglected part of Europe.

About the instructor:

Jochen Wermuth is the Founder of the “Greater Europe” investment funds which have invested over $1 bn in Russia, and CIO and Managing Partner of Wermuth Asset Management GmbH (WAM), the Funds’ exclusive investment adviser and a member of The World Economic Forum’s Community of Global Growth Companies (GGC). From 1997 to 1998, Jochen was Director for Russian Debt Capital Markets Origination in Deutsche Bank’s Global Markets Division, London, seconded to Moscow as a member of the management committee responsible for setting up its fully licensed subsidiary. In this capacity he raised some $8 bn in financing for Russia. Between 1993 and 1997, he participated as an EU and World Bank finance adviser to the Russian Ministry of Finance in negotiations with the IMF and World Bank for $17 bn in budget financing. He also co-founded and headed the Ministry’s Economic Expert Group (www.eeg.ru). In this capacity he prepared economic policy plans, debt restructuring negotiations, the country’s first credit rating and its debut Eurobond issue. He is a member of German Association for Foreign Policy (DGAP), Eurosolar, Rotary Club Moscow International, Young Presidents Organisation (YPO) Greater Europe and Russian chapters and a supporter of Greenpeace. He holds a Master’s degree in Economics and a Bachelor’s degree in Economics and Mathematics, awarded magna cum laude and with honors, from Brown University and passed his qualifying exams for a Doctorate in Economics at Oxford University’s Balliol College. Jochen’s native language is German and he is also fluent in English, Russian and French.

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