Where the growth is: Two emerging market funds to put in your Isa

Far from being the contrarian play they once were, investors are piling into emerging markets. And with these two funds to tuck away in your Isa, you can grab a slice of the action.

Fifteen years ago, emerging markets were the preserve of the more contrarian or eccentric investor. This started to change in 2001 when Goldman Sachs economist Jim O'Neill coined the now famous Bric' acronym. He predicted that its constituents Brazil, Russia, India and China would enjoy the lion's share of future global growth. As the new millennium has progressed, it's become increasingly clear that O'Neill was onto something.

Even the financial crisis couldn't stop the march of emerging markets. In the past, problems in the developed world have frequently derailed emerging-market growth spurts, as investors suddenly take fright and pull money out of risky' assets.

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