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F&C to manage Eastern European Fund
10 March 2014
Eastern European Fund Board announces new fund management team
Eastern European Fund Board
The Eastern European Fund Board has appointed F&C
Investments to manage the Eastern European Fund following the
resignation of Nevsky Capital. The F&C Eastern European
team, led by Gareth Morgan, with Kristof Bulkai and Claire
Franklin, will take on the role of fund manager from April 30
2014, subject to regulatory approval.
The team has a proven track record of delivering outperformance
through various market cycles, in both a dedicated Russian Fund
and within the wider global emerging market strategies.
Morgan, fund manager at F&C Investments, said: "Our focus
on quality, rather than value alone, has enabled us to deliver
strong performance over various market cycles. Through our
process and an ability to draw on the wider research
capabilities within F&C, including the European equity,
emerging market debt and governance & sustainable
investments teams, we believe we are well placed to continue
delivering for stakeholders."
Steve Ilott, co-head of investments, F&C Investments said:
"We are very pleased to have received the support of the Fund
Board in recognising the strengths of our capabilities. In the
near term, investors remain at the behest of news headlines
from the region."
"However, in the absence of a sustained conflict, Eastern
Europe provides attractive valuations and exciting
opportunities for growth in banking, infrastructure, energy and
domestic consumption. Further progress on corporate governance
and aligning the interests of minority shareholders also has
the potential to help in closing the current valuation discount
applied to the region by investors."