The trust that Mr Sutcliffe refers to is The Eastern European Trust, and it is managed by the Geneva-based firm Pictet. Full details on the trust, its investment objectives and processes, as well as monthly newsletters by the trust’s manager, can be found at www.teetplc.com.

Pictet itself is achieving a higher profile in this country at the moment, largely due to the success of its sector funds, such as the Pictet Water Fund, which has recently had to close to new investors.

It is in the process of launching the new Pictet Clean Energy Fund, which should provide an interesting opportunity for investors who believe that this is a fast-developing and worthwhile longer-term area in which to seek returns.