Battered EM equity funds stage recovery


Emerging market equity funds bounced back in a big way in April, with the median for the sector up nearly 8% and the mean return up by over 10%.

Russia-focused funds shot the lights out, posting huge gains thanks to a continuing rally in the country's battered equity market - although most are still heavily down over the past 12 months.

The biggest gainer was UFG Russia Alternative Fund, which gained nearly 40% on the month. Ignis Hexam's EMEA Absolute Return Fund also racked up huge gains, adding over 35% in April. And Russian Prosperity added 21.30% on the