In April four of the five biggest active emerging markets equity funds will be inaccessible to new investors.
Jason Kephart of InvestmentNews reports
that the number-one, $33-billion Oppenheimer Developing Markets Fund
] will close to new investors next month. That follows closures earlier this year of the number four, $10-billion Aberdeen Emerging Markets Fund
] and the number five, $8.3-billion Virtus Emerging Markets Opportunities Fund
]. The number three, $16-billion Lazard Emerging Markets Fund
] has shut out new investors since 2010. Only the the number two, $20-billion American Funds New World Fund
] will remain open to investors. The trade pub worries that the closings are an indication that EM equities and funds are too hot, perhaps overpriced.
senior mutual fund analyst Gregg Wolper
offered his take for the article.
Neil Anderson, Managing Editor
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