Veteran US investor exits American stocks, bets on Uzbekistan market

Veteran American investor and author Jim Rogers has completely exited the US stock market and redirected part of his capital into Uzbekistan’s equity market, calling the move an “unusual” but deliberate shift in his portfolio.

Rogers said he has sold all of his US assets and invested in shares traded on the Tashkent Republican Stock Exchange, where about 85 companies from sectors including banking, oil and gas, telecommunications, and other industries are listed. He noted that he has purchased most of the securities available on the local exchange, Caliber.Az reports via Uzbek media. 

The investor recalled that in 2021 he publicly expressed interest in Uzbekistan, saying at the time that he expected the country to open its economy further, proceed with privatisation, and bring more companies to the public market. He now says those expectations have been fulfilled, describing Uzbekistan’s economy as having “finally opened up.”

Rogers stressed that his investments in Uzbekistan are focused exclusively on shares of local companies and that he does not invest in the country’s sovereign debt.

Jim Rogers, who co-founded the Quantum Fund with George Soros, has an estimated net worth of around $300 million.

By Sabina Mammadli