Euro equity boost benefits Baring trust

Baring Emerging Europe experienced a strong rise in net asset value for the first six months of the year, boosted by a rally in the region's equity markets.

The £333m fund saw its NAV rise 24.8% for the six months to 31 March 2010, compared to its benchmark’s gain of 24.2%. Manager Matthias Siller says the trust benefitted from strong investor demand for the region’s equities. “The strong rebound in emerging European equity markets, especially in Russia and Turkey, was helped by increased investor appetite for riskier assets, but remains remarkable nonetheless as investors ignored negative newsflow emanating from several markets,” he says. “Relative outperformance stemmed mainly from stock selection, with Turkish banks, Russian and Kaz...