New Europe fund.

Jupiter Asset Management launched third fund investing in emerging European stock markets. Fund is called Jupiter New Europe Fund. Recently you could see that Russian and Eastern European stock markets (Bulgaria, Romania) were quite resistant to credit market turmoil in August and as well as in last days in November. Russian stock market (RTS) is traded at P/E ratio 10 which 60% discounted compared to overheated China. Also Russian companies are having 18% debt to equity ration (US companies 51%) and are twice as profitable as US companies. Steel companies reported 50% earnings increase and telecommunications 70% for first half of year.