Why emerging markets look good amid the shutdown
The ongoing political stalemate in the U.S. has provided a good opportunity for emerging market (EM) investors, the U.K. and International CEO of Russian investment bank VTB Capital told CNBC.
Atanas Bostandjiev said that although the situation in the U.S. was affecting global markets, the volatility would be short-lived. The U.S. government is currently in partial shutdown because of a failure to reach agreement over the budget.
(Read more: Emerging markets thrive amid US shutdown)
"Looking at the macro picture, although we have seen some volatility brought on by tapering talk earlier in the summer and now by the budget showdown in the U.S., we see this, actually, as a very interesting entry level for the long-term EM buyers," Bostandjiev said on Wednesday.
"Longer-term fundamental investors need to chase growth. EM as an asset class and as a region is still the driver of global growth and I think that's the place for people to diversify to."
(Read more: As shutdown drags on,is more global easing coming?)
Bostandjiev was especially bullish on the outlook for Russia, which he described as "one of the most interesting and strongest macro fundaments out of all the emerging market countries."
Emerging markets were pounded over the summer amid speculation of an end to the U.S. Federal Reserve's bond-buying program. But they have performed relatively well throughout the U.S. shutdown as investors continue to believe it will be resolved before Thursday's deadline, after which the Treasury's new borrowing authority is set to expire.
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CORRECTION: This story has been updated to correct Atanas Bostandjiev's job title and the spelling of his name.