Samsung, simply because it is headquartered in South Korea, is the biggest component of an emerging-markets fund.
The international Financial Stability Board found that the collateral pledged to one emerging-markets fund largely comprised Japanese shares and American bonds.
"Some banks have made a fair amount of money being short the real, " says Peter Marber, president of the Trust Co. of the Atlantic, an emerging-markets fund.
Last year, Franklin Templeton Investments emerging-markets guru Mark Mobius started finding bargains in Middle East countries like Egypt and Dubai, but these scarcely figure in the typical emerging-markets fund.
In the aftermath of the "Flash Crash, " the Nasdaq canceled trades on a number of stocks that saw particularly abnormal activity, including Boston Beer Company, the First Trust ISE Revere Natural Gas exchange-traded fund and the Templeton Emerging Markets Income Fund.
Additionally, they picked up the WisdomTree Emerging Markets High-Yielding Equity Fund (nyse: DEM - news - people ), which tracks the performance of the WisdomTree Emerging Markets High-Yielding Equity index.
Compare that to the iShares MSCI Emerging Markets Index exchange-traded fund (NYSE:EEM), which was up 13.68% in the last year and 5.35% in the last three months and the Vanguard Small Cap Index (NAESX), which is up 6.69% in the last year and down 7.53% in the last three months.
And on July 10th the hedge fund recruited two senior emerging-markets traders formerly at Morgan Stanley.
Suppose, for instance, that you decide to invest in an exchange-traded fund that mirrors the MSCI Emerging Markets Index, which measures equity market performance in 26 emerging economies.
Another option: Eaton Vance (nyse: EV - news - people )'s Structured Emerging Markets Fund, started in 2006, which invests in developing countries like Mexico and the Czech Republic and has a tiny stake in Vietnam, with stocks such as Vietnam Enterprise Investments Ltd.
Jonathan Garner of Morgan Stanley says that recent fund flows into emerging markets represent a re-allocation of just three-hundredths of one percentage point of global wealth.
Their competence and duty to advise seemingly encompasses anything a fund may encounter- asset allocation, manager and fund performance, personnel turnover at managers, real estate, private equity, international and emerging markets, hedge funds, fund of funds, brokerage-everything but consultant-related issues.
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And he promised to give large emerging markets--like India and China--a bigger say on the Fund's board.
Among its best performing funds are the Virtus Multi-Sector Short Term Bond Fund run by Newfleet Asset Management and its Emerging Markets Opportunities Fund run by Vontobel Asset Management.
Fund managers are quick to retort that emerging markets were always supposed to be long-term investments.
The popularly traded iShares MSCI Brazil (EWZ) exchange traded fund is down 4.3% year-to-date while the MSCI Emerging Markets index is up 3.39%.
We're already seeing that in large sovereign-wealth funds, such as the decision by Norway's oil fund to adopt a GDP-weighted bond portfolio that ramps up the exposures to emerging markets.
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Speaking of emerging markets, I was pleased to see the closing of a VC fund focusing on Israeli tech start-ups.
The iShares FTSE China ( FXI) exchange traded fund is up 3.39 percent year-to-date, outperforming the MSCI Emerging Markets index.
By comparison, the iShares 3-5yr UST (IEI) exchange traded fund is up 5.9% and the Goldman Sachs Emerging Markets Debt (GSDIX) fund is up 3.2%.
Year-to-date, the four star rated Morningstar fund is down 2.5% while the iShares MSCI Emerging Markets exchange traded fund, owned by BlackRock, is up 1.9%.
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The iShares 3-7Yr UST (IEI) exchange traded fund is up 6.68% while the Market Vectors Emerging Markets Local Currency (EMLC) bond ETF is up just 1.62%.
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