Tracking Europe's Hot Spots

Prague-based fund manager Ivo Kovachev explains how he finds the growth stocks that have seen him defy the market's downturn

By focusing on small and midcap growth stocks, the Driehaus European Opportunity Fund (DREOX ) has been outperforming its European stock-fund peers by a wide margin. Bulgarian-born manager Ivo Kovachev searches for companies that are showing classic growth traits, such as accelerating sales and earnings growth. Kovachev, who runs the fund from Prague, Czech Republic, particularly favors some smaller British retail outfits and Russian telecommunciations stocks. He also holds some large stocks like Vodaphone.

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