Emerging markets are drivers of economic growth and this makes bonds in countries from the periphery of Europe preferred by investors. Most attractive are corporate bonds, yielding the highest profitability. This was said by Petr Zajic, Senior Portfolio Manager, “Emerging Market Bonds”, at the two-day seminar “Capital Markets and Investments” in Varna, on 27-28 June, on occasion of the 10-th year anniversary of the company in Bulgaria.

„The emerging markets in Europe, in which Pioneer Investments invests, represent an exceptionally good combination of the strengths of various countries – economic and consumption growth in Russia, Turkey and Poland, the stability of countries such as the Czech Republic and Poland, good assessment for Russia and Hungary and relatedness with the strongest economy – the German one, for the Czech Republic and Hungary“, explained Zajic.

Zajic also referred to the USA as a positive example of a country in which the recovery of the financial markets has already started and to confirm that he pointed out that nearly 2/3 of US companies are considering bringing their operations back to the USA. According to Petr Zajic the economic growth will be restored at a slower pace in countries whose economies are based on the services sector, such as for instance Spain, Iceland and Ireland.

„The growth which the Bulgarian economy is aiming for must be balanced – relying both on export-oriented sectors and domestic consumption. Consumer demand will be supported by increasing costs and low levels of indebtedness“, added Zajic.

Zajic shared with the media his optimistic forecasts for the development of the capital markets in the next 2-3 years. „The factors that foster growth are the GDP growth in the USA and the recovery of the prices for homes, which signals an improvement in household wealth“, said the expert from Pioneer. He expects that in the coming years exchange traded goods would present the most interest for investors.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, Phone: + 359 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch