A Bargain Hunter in Emerging Markets

Emerging markets have been a tough place lately for equity-fund managers to generate positive returns. The MSCI Emerging Markets Index was down 2.2% last year, as investors favored U.S. stocks.  The $3.2 billion Thornburg Developing World fund lost 3.04% in 2014, trailing Morningstar’s Diversified Emerging Markets category by three basis points (0.03%). But manager Lewis Kaufman, 39, who has run the fund since it launched in late 2009, has done well over longer periods. The fund’s five-year annual return of 7.7% is at the top of its peer group.

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Time to Invest in Emerging-Markets Stock Funds?

It has been a frustrating time for emerging-markets investors lately.  First, they had to watch as U.S. stocks went on a tear last year, while emerging-markets stocks headed in the opposite direction. Many investors lost patience; they yanked more than $15 billion from emerging-markets exchange-traded funds in the three months through January of this year, according to the Lipper unit of Thomson Reuters Corp.

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