Negative funds in emerging Europe

The spread of returns in the Standard & Poor's emerging Europe, Africa and Middle East sector has been 60% in the 12 months to July This was far lower than the 100% spread between the best and worst performing funds in the preceeding 12-month period although in the year to 1 July 1999 the average Emerging Europe fund declined by 13.5 Peter Jeffreys, managing director at S&P Fund Services, said: "Groups such as Barings, Flemings, INVESCO, Mercury and Morgan Grenfell have all stayed the course over a challenging year and this is reflected in some of the strongest performances in the sector ...