Which country topped the pile? Top ten index returns of 2013

Mainstream emerging markets may have remained thoroughly out of favour this year, with developed nations driving global equity returns, but surprises can still be found in the top ten markets of 2013.

Admittedly, few would be surprised to see the Japanese market among the top ten peformers this year, given the impact Abenomics has had in reversing investors' long-bearish sentiment. More notable, perhaps, is that the top-performing single country market this year is Venezuela - for the second year in a row. The Venezuelan stock market is up a staggering 452% year to date in sterling terms, according to Morningstar, despite a year of political uncertainty for the country - most notably through a devaluation of its currency in February and the death of president Hugo Chavez in March. ...