Russia

Indian funds struggled

Over the past two years, emerging markets (EMs) have enjoyed a strong return to outperformance, driven by the first synchronised global growth episode since before the global financial crisis.

Also favouring China

'Do not rush in with eyes wide shut'

One equity and one bond fund

Brent Crude hit $64.3 a barrel

Bullish on equities

Everything else is 'relatively predictable'

Looking outside the 'Big Three'

China and the Czech Republic well placed