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The Ups and Downs of Funds

This thrilling fund is not for the faint of heart.

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This story appears in the August 2007 issue of Entrepreneur. Subscribe »

Many European and Mediterranean businesses and economies are booming. One particularly hot sector is financials. Christopher Alderson, lead portfolio manager of the T. Rowe Price Emerging Europe & Mediterranean Fund (TREMX), reports that since the fund's inception in 2000, nearly 40 percent of the assets have been in various financial stocks.

Thanks to rising incomes and consumer spending as well as relatively strong GDP growth in the area, banks aren't the only investments Alderson finds attractive. Energy, consumer staples and telecommunication services also appeal to this fund, which keeps about 52 stocks in its portfolio. In terms of country exposure, as of May, 53 percent of the fund's assets were in Russia, 17 percent were in Egypt, and 11 percent were in Turkey.

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