Strong performance of the Eastern European markets resulted in a solid gain for the fund during October 2016. Our positions in Eastern Europe and Russia gained both between 4% and 5%. Next to the Eastern European markets we benefited also from the positive trend in both China and India.
The different markets of China developed quite different. The CSI 300, listed in mainland China performed the best, 3.5%. The other Chinese equity markets performed more moderate with 1.5%.
Equity markets in India were almost as positive as the Russian equities. The Indian positions of our fund gained 3.7%. The other markets showed a more moderate development.
The Pakistan position lost about 1% of its value and the Turkish markets were winning a little more as 1%.