Charlemagne’s eastern Europe fund looks to gain from M&A, corporate activity
LONDON (Thomson IM) – Charlemagne Capital’s Magna Eastern European Fund is seeking out companies poised to benefit from consolidation or corporate activity in the near future as it looks to build on returns of 24.7 pct in 2007.
The fund said it capitalised on a good stockpicking environment in December to add gains of 4.5 pct – one of its best monthly performances of the year.
It outperformed the MSCI Emerging Markets Europe 10/40 Index which rose 3.1 pct in December and 21 pct for the year.
Shares in the region were boosted in December, particularly in Russia, as the oil price rose to 100 usd per barrel.
http://www.thomsonimnews.com/story.asp?sectioncode=7&storycode=34250
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