They were handsomely rewarded, with the MSCIEmergingMarketsindex (MSCI EM) returning 79% in 2009 and 19% in 2010, compared with 31% and 12% for sharesglobally.
Emerging market currencies have increased 5% on average versus the dollar year-to-date and emerging market equities are up over 11% in dollar terms on the MSCIEMindex.