Brave new world

The westernisation of Eastern European economies has created opportunities for hedge fund managers investing there, but the speed with which reforms have come has also thrown up problems.

Mass privatisation began in the early 1990s with the collapse of the old Soviet Union. Industry and financial reforms were rapid after years of public ownership.

The potential for investment in many Eastern European markets has gone from strength to strength since then and there are a growing number of funds d

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