Hermitage Capital Management eyes Emerging Market

Hermitage Capital Management:

Introduction: Hermitage Capital Management is an investment fund and asset management company specializing in Russian markets founded by Bill Browder and Edmond Safra. Hermitage Capital Management headquarters are in Guernsey, whilst it also maintains offices in the Cayman Islands and Moscow, Russia.

Update from fund house: The firm has recently taken on new investment professionals in Shanghai and Singapore, is opening an office in Brazil and is considering opening one in India. “We see the developed world as needing to save more and consume less,” Layman says. “It’s the opposite in the emerging markets. As consumers start to consume more, whether in health care, education or retail, regional and localized services will be great growth vehicles.” Goldman Sachs Asset Management is pursuing a similar strategy.

The firm, which manages $840 billion, has tripled the number of investment professionals it has in emerging markets, to 30, and has opened offices in Brazil, China and India. In the next 20 years, Goldman believes, some 2 billion people in the emerging markets will cross the income threshold of $5,000 a year, the point at which people begin to buy discretionary consumer goods such as mobile phones.