Uncertain Latin America adds to current difficulties for year ahead

Emerging market hedge funds are expected to face a difficult time through 2003, but Eastern Europe offers opportunities.

The convergence theme in Eastern Europe and a commodity rally could see countries in those sectors providing rich pickings.

Henry Thornton of BDT, which runs absolute return products for emerging markets and is due to launch a hedge fund, believes a loose Federal Reserve monetary policy and a declining dollar will work in favour of emerging markets, but specific regions will fac