Arbat Capital Management has appointed Yulia Bushueva as managing director, HFMWeek reports. In her new role, Bushueva will be responsible for developing a new Russian-focused fund, which will aim to rise $100-150 million, with $50 million invested in the first round by a group of Russian.

The New Kremlin Fund will focus on equities from Russian companies, but will hedge the political risks of the 2012 elections via investments in other developing markets, such as Brazil and Turkey. Bushueva was formerly head of research at UniCredit Securities.

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