Three of the Bric's cheaper cousins to buy now

The Bric countries - Brazil, Russia, India and China - have been a massive boon to the fund industry in recent years. But some of their lesser-known peers also offer excellent opportunities. We reveal three we like - and how to get in on the action.

The Bric countries - an acronym which was coined by Goldman Sachs chief economist Jim O'Neill in November 2001 in a report on Brazil, Russia, India and China - have been a massive boon to the fund industry in recent years. The Bric nations now comprise 40% of the S&P/IFCI index (which represents emerging-market stocks that foreign investors can invest in easily), starting from less than a quarter in 2002. But while growth prospects for the Bric countries are certainly attractive, some of their less-well-known peers also offer excellent opportunities - and are a lot cheaper than the likes of China. Here are three emerging markets we like outside the big four.

Emerging market funds: South Korea

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