OREANDA-NEWS. Fidelity fund, the largest investment manager in the world, has picked up 5.59% in RGI International’s charter capital, which, according to Antanta Capital, underscores the investment appeal of the Russian developer’s shares.

In particular, a pension fund from the Fidelitygroup has become one of the Russian company’s shareholders. In the opinion of experts, the arrivalof a portfolio investor represented by Fidelity to RGI’s equity attests to the company’s image. The company remains appealing on fundamentals,based on the structure of its project portfolio and a trend in real estate prices in marketsegments where RGI operates (premium class residential real estate and office premises in Moscow). This is the only public company which operates exclusively in the premium segment of the capital’s residential real estate market.

"We believe that a good opportunity has shaped up for investors with mid- and long-term horizons to Buy RGI shares, since the real estate developer’s current market cap is 30% below the project portfolio value. Based on net asset value, RGI should be priced at $12.20 per share, which implies 23% upside to the current market valuations. At present, we have no fair price for RGI international shares," said one of Antanta Capital's analysts.