The five funds that dodged the EM bullet

Emerging markets have had a torrid summer, as the threat of a slowdown in China and the possibility of QE tapering in the US weighed heavy on investor sentiment.

Consequently, EM equity funds have suffered: of the 59 funds in the IMA's Global Emerging Markets sector, only five have produced positive returns for the three months to 19 July, according to Morningstar. What are they, and how have they dodged the sell-off? The £426m Fidelity Institutional Emerging Markets fund run by Nick Price topped the sector, returning 2.09% despite the sell-off. Price's second largest holding, South African multimedia company Naspers, has been on a stellar run this summer, returning 24% in the last three months. First State justified its reputation as an emerg...