“I have followed the Balkan Emerging Frontiers since its launch in 2010 and have been thoroughly impressed with the consistent performance that Denis, the fund manager, has delivered.

The Fund has a very specialist focus with its emphasis on the countries of the former Yugoslavia – primarily, Serbia, Bosnia and Herzegovina, Montenegro and Macedonia. The area is not well known and researched by western fund managers. This is where Denis has an unrivalled and clear advantage by being ‘on the ground’. He has a thorough and solid understanding of the fabrics of the local markets and the culture that drives investment in the region. Having access to top quality contacts and being able to leverage these relationships has been a significant contributor to the success achieved to date.

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“I regard the manager of the BEF Fund, as an expert on investment opportunities in the Western Balkans. The Fund’s performance is testimony to its research-driven approach to investment management”

Dr. Prieur du Plessis
Chairman

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“…Denis is one of the world’s best fund managers… I go to many hedge fund conferences and events and I know who the best managers are…”

Speech on the Annual international banking forum CEE/ CIS, Riga 2014

Giovanni de Francisci
Portfolio Manager
Petschek Family office
Monte Carlo, Monaco

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“Having been the first Investment manager to launch an investment trust focused on Continental European small cap stocks in the 1980s and subsequently to have initiated a £30m investment in Emerging European Private Equity funds after the Berlin Wall was taken down, I think I am in a good position to say what a fantastic return you have achieved with your fund in a short time and with no tailwind.”

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“I would like to confirm in writing that it has been an enjoyable experience to work with the BEF Fund. First of all it has been a benefitting element in all portfolios with over average returns, even in markets where the majority of equity investments have shown negative results. As an investment advisor the communication has been the most important for us, where I can only say that it has been a pleasure up till today to work with your team”.

Olaf Chalmer
President

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