Just over a year ago, investors were running for the exits as the Warsaw Stock Exchange plummeted following the advent of the financial crisis, but since then they have aggressively re-entered the market.
“There was general panic everywhere. People saw emerging markets as a high-risk variable and they sought to dump them, probably unjustifiably in the case of Poland,” says Nigel Rendell, emerging markets specialist at RBC Capital Markets. “Since then people have bought into the rally – we’ve had a steady stream of cash that’s going back into emerging markets.”
