Russia’s recovery will boost eastern Europe

The Baring Emerging Europe trust opts for top-quality eastern European stocks, says Max King.

945_MW_P20_Funds

US capital outflows are keeping Russia's currency competitive

The 40% jump in the oil price so far this year has been treated with indifference by global investors, but, at the other end of Europe, it is very good news. While Russia has been diversifying its economy away from a dependency on oil and gas and insulating it from price volatility, hydrocarbons (eg crude oil and natural gas) still account for 10% of GDP,21% of 2017 government revenue, and 58% of export earnings, according toAlexey Krivoshapko, a director of Prosperity Capital.

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Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.