December gains cap strong EM year


Several emerging market debt and equity managers scored high double-digit returns last year.

Among debt specialists VR Global Offshore was at the top of the pile with an annual return of 58.35%, following a 5.23% gain in December. GAM Emerging Markets Rates made 28.90% on the year, including 2.97% in December. The FPP GEMs Bond Fund returned 18.04% in 2010, with a 1.13% gain last month.

The three Finisterre funds all ended the year with good double-digit gains, as did all three funds in the Spinnaker stable.

Pharo Trading gained 10.55% last year, including 4.91% in December. GLG