Fund Result: Oleg Biryulyov, JPM New Europe fund

Oleg Biryulyov suffered a loss of 6.7% on his JPM New Europe A Acc fund in credit stricken markets in March. Overall the New Europe region fell by 13% in sterling terms in the first quarter, while Biryulyov kept losses down to 9.1% thanks to positive stock selection in Russia and investment ideas in Poland.

He said: 'Market corrections in Eastern Europe have not coincided with a material loss of growth or earnings potential for listed companies, meaning valuations in many cases have fallen to compelling levels.'

Citywire verdict

Though Citywire currently favours alternative Eastern European managers, Biryulyov is building an impressive track-record and is certainly one to watch.