Emerging markets had a very strong year, benefitting from the global equity rally. A 1.11% December return saw fund of funds ending the year up 12.88%, according to the InvestHedge emerging markets composite. Many investors turned to liquid directional strategies in 2009 and the emerging markets were a beneficiary of this trend. Global growth and rising commodity prices continue to be the themes that can be played out in these markets with China being one of the favourite plays in emerging markets funds, despite technically being an Asia investment.
FMG Rising 3 Fund was up 2.89% on the