Fund Times: Emerging-Markets Sell-Off Hurts Funds
Plus, Undiscovered Managers fund to close on Friday, and more.
A move from high-risk securities to safer ground has hit many emerging-markets funds hard. In particular Russian, Indian, and Latin American markets have declined sharply.
These areas have been among the most popular with investors, but as usually happens the markets have punished performance chasers. Direxion Emerging Markets Bull 2.0 (DXELX) is off 23% for the trailing four weeks. U.S. Global Investors Eastern Europe (EUROX) is off 21%, while T. Rowe Price Emerging Europe & Mediterranean (TREMX) is down 18%. Eaton Vance Greater India (ETGIX) is off 14%.
Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.