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 an extremely healthy 23%, according to figures from the group.
The fund has diver