INVESTING IN RUSSIA OR TURKEY?, WINNER SAYS IGNORE DOWNED JET

Marko Daljajev says he’s made money on Turkish and Russian stocks by ignoring the big international events that make headlines.

That’s good advice now, when tensions between the two countries are sizzling after Turkey this week shot down a Russian fighter jet. Daljajev runs the SEB Eastern Europe Small Cap Fund, which is the best performer this year out of the 100 with sizable holdings in both countries.

Over the past 12 months Turkey has experienced a hung parliament, record lira weakness, terrorism and a flood of Syrian refugees. Russia’s been in recession, crippled by the plunge in world oil prices. Even so, Daljajev’s euro-denominated fund is up 17 percent, while the MSCI Eastern European benchmark is down by 5 percent.

BUHARI BOUNCE BECOMES BUST AS NIGERIA POLICIES IRK INVESTORS

When Muhammadu Buhari clinched victory in Nigeria’s presidential elections in March, stocks soared as investors looked to the former military ruler to reverse decades of economic mismanagement and policy inertia. Now hopes have fizzled in his ability to turn around Africa’s largest economy and oil producer.

Money that flowed into stocks and bonds in the West African nation, which McKinsey & Co. says could become one of the world’s 20 biggest economies by 2030, is now fleeing as growth prospects diminish along with oil prices. While Buhari, 72, has prioritized stamping out the graft that has plagued Nigeria since independence from Britain in 1960, policy-making appears as uncertain and haphazard as ever.