Europe's gems

European fund managers are increasingly finding value in non-euro countries. Joanna Faith reports.

The topic of the euro collapsing has once again reared its head thanks to fears of Irish bankruptcy. While commentators believe political will is too strong to let the currency derail, fears of contagion are still rife with many speculating which country will be next. Unsurprisingly, confidence in Europe has plummeted and spooked investors have turned their attention to other regions. Gross retail sales of the Europe ex UK sector slumped from 4.7% of total retail sales in July this year to 3.7% in October, according to the IMA. The sector’s gross retail sales have been on a downward t...