Fund managers who made their names in rising emerging markets have endured a tougher time for much of the last year, but who has weathered the storm and come out on top?
Talk of tapering in the US last May instigated an initial plunge for emerging markets, and at the start of 2014 there were more woes as doubts over global growth hit home. However, a number of funds have rebounded sharply of late, and delivered double digit returns since the low last June. Managers including Richard Sneller at Baillie Gifford, and Carmignac’s Emergents fund delivered gains of 15% since the low a year ago. Fund buyers have observed commonalities between the funds which have beaten their rivals. In the sell-off, those with value or contrarian strategies showed more resi...
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