Charlemagne closes Eastern European portfolio

The fund was launched on 31 December to maximise absolute returns by investing both long and short in emerging European and EMEA equities, using Charlemagne Capital's bottom-up investment approach.

Stefan Böttcher, Charlemagne Capital's director of portfolio management, said "it was prudent to close the fund at a point where we felt confident that we can continue to manage (it) with the same successful strategy employed so far."

In 2004 the fund was up 20.58%. As well as the OCCO Eastern Europ