East Europe portfolio with a toe in the West

Jupiter Asset Management is launching a new European fund, to be co-managed by Elena Shaftan, as part of its Global fund Sicav. The fund’s mandate will be similar to that of the Jupiter Emerging Europe Select (Sicav) fund and the 603m Emerging European Opportunities fund. However, it will also be able to invest up to a third of its assets in Western European companies. Its minimum investment will be 1,000.

The fund will focus on Central and Eastern Europe, Russia, Turkey and non-European former Soviet Union states. But it will have flexibility to invest in Western European companies expected to benefit from exposure to emerging European markets.

From its launch in 2002 to September 24, the Emerging European Opportunities fund has returned 432% compared with the Morningstar Global Emerging Markets sector average of 241%, according to Morningstar.