Restructuring still a major theme

Three-year risk/return figures for offshore funds in the global emerging markets sector show relatively poor returns from most funds, although the better-performing in the sector have shown extremely strong performance over the last year after the losses nearly all incurred in the second half of 1998. The best-performing fund in the sector by some distance is the Gartmore CSF Emerging Markets fund, managed since July 1995 by Chris Palmer. Palmer said: "Since my arrival, which was soon followed by the arrival of Philip Ehrmann as head of the emerging markets desk, a lot of work has been d...