While the invasion of Georgia, along with Putin’s continued zealous nationalism, has triggered fear from foreign investors of an increasingly depressed Russian market, things aren’t nearly as bad as they may seem. Indeed, it may be an optimal time to invest in Russia, according to several money managers.

Who’s investing in Russia?

Many money managers and Russian experts are certain that as fears are assuaged money will flow back into the Russian market, and stocks will rise. Those who invest in Russia early on, will then cash in.

Portfolio manager John Connor suggests others invest in Russia. He reports that he has recently increased holdings in Russia by 50%, taking full advantage of the massive recent sell-off and says, “There are tremendously undervalued positions in Russia”. Continuing to beat its three- and five-year benchmark, Connor’s Third Millenium Russia Fund (TMRFX) is running strong.

The Russian economy has been growing at a rate of 7-8% …