“On the positive side, growth in eastern Europe is performing well. “We think there are interesting opportunities in Romania, Serbia and even in smaller countries like Albania and Macedonia.
“On the other hand, we run a long/short strategy,” he adds. “There is a part of the world we are very concerned about and that’s the Gulf region. They have suffered a massive terms of trade shock with the collapse of oil prices a few years ago and that’s still weighing on them.”
“We think there will be some good opportunities to be short assets in places like Saudi Arabia and Oman.”