Opportunities as Eastern Europe looks towards EU

Eastern European markets offer investors the chance to benefit from a convergence play on their future membership of the European Union (EU). It has become an increasingly attractive market as some countries draw closer to joining the single market, according to many fund managers. Paul Murray-John, executive director of emerging markets fixed income at Threadneedle, says: 'It really does not matter how their economies have performed, what matters is their political moves towards Europe.' He makes a distinction between local currency and euro, sterling or dollar denominated curr...