Worries over volatility

According to Standard & Poor's Micropal, the 18 funds tracked over the three-year period to the end of August this year have shown a negative return of -5.4% in dollar terms.

This overall figure continues to mask huge volatility and massive underperformance by the sector in recent times. Since the Asian crash of 1997 and the subsequent fallout in Russia and then in Latin American markets, the global emerging markets sector has been in turmoil. Funds that have had a high element of debt have