Rally peters out for EM equity operators


June was a tougher month for emerging market equity funds, although most are still showing very strong performance as they continue to claw back the losses incurred in 2008.

Many funds are up by 50% or more for the year, with Russian Prosperity leading the way - up by a chunky 77.85% this year, but still down by 54.47% on a rolling 12-month basis.

A handful of niche funds posted strong gains in June . Among more mainstream firms Charlemagne's OCCO Eastern European Fund gained 5.44% in June and is up 30.55% YTD.

Horseman Emerging Markets - the star