Eastern Europe badly hit by global slowdown

With the exception of Russia, Eastern Europe has suffered from the global slowdown, according to Giles Neville, fund manager of Schroders' Global Emerging Markets Fund. He contrasts Russia's performance, having increased 40% in dollar terms in the year to date, with that of Poland, which dropped by 25%. Hungary saw a fall of 20% while the Czech Republic fell by 13%, according to MSCI figures. Neville puts this difference in performance down to one main factor ' the price of oil. He says this has allowed the Russian government to make good progress on reforms, which in turn have...