Emerging markets enjoy surge

Strong returns from emerging markets prompt surge of investment into funds connected with less developed countries

As the global financial crisis recedes, the early winners appear to be emerging markets, fuelling a surge of capital flows into funds connected with them. Several fund managers now use the phrase “emerging markets” only reluctantly, since the main components of global sector indices – Brazil, Russia, India and China (the Bric countries) are fast challenging established markets, while those used to claiming “developed” status are taking on characteristics long associated with immature financial systems. Emerging” has built-in obsolescence. According to the IMF, the Bric countries accou...