We study the principal chiral Ginzburg-Landau-Wilson model around two dimen
sions within the local potential approximation of an exact renormalization-
group equation. This model, relevant for the long-distance physics of class
ical frustrated spin systems, exhibits a fixed point of the same universali
ty class as does die corresponding nonlinear sigma model. This allows to sh
ed light on the long-standing discrepancy between the different perturbativ
e approaches of frustrated spin systems. [S0163-1829(99)00606-2].