Emergent AM, Ballistic Fund - April 2004

The Ballistic Fund from Emergent Asset Management has certainly done what its name implies. With returns of 50.35% in 2002 and 111% in the three years to 14 December 2003, investors in it have had rarely a dull moment.

Displaying average returns of more than 30% in its life, the Ballistic fund has used both its short and long book of emerging market shares to maximum effect. In 2003, it continued its good run, up a healthy 23%, according to figures from the group.

The fund has diversified ar