Russians seem to be more optimistic about the country’s economic future, which could affect its exchange traded fund (ETF). According to the Consumer Confidence Index (CCI), economic growth, rising incomes and declining poverty are components to Russia’s fresh optimism, reports Russia Today. The survey reflected the opinions of almost 14,000 respondents across Russia, and it revealed that the index is now at 132 points, which is 11 points higher than 2006 and 17 points higher than 2005’s 115 points.
The Market Vectors Russia ETF (RSX) that launched in late April has had a rocky start, but it’s up 7.2% for the last three months. RSX tracks the DAX Global Russia+ Index of 30 Russian-based companies. Components of the index include 30 of the most heavily-traded Russian companies that have listings on global exchanges, either through an American Depository Receipt (ADR), a Global Depository Receipt (GDR) or local Russian shares.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.