Demonstrating the continuing improvement of fundamentals in emerging markets, the strategy was one of the top performers in every index. The funds got a boost from strong emerging market bonds as well as good emerging equity market performance.
Some currencies had satisfactory performance, and one reported trade that worked well for emerging markets managers was to go long emerging markets currencies while shorting G10 currencies. The $801 million Boyer Allan Pacific Partners LP fund returned about 4.72% in February, bringing its year-to-date total to roughly 7.28%. The Moore Emerging Markets fund also produced a hefty February gain, returning