BlackRock Emerging Markets co-manager Dan Tubbs thinks so.  In an interview to London based CITYWIRE, he says ” investors may be missing a trick in failing to look further than the big four in emerging markets.  Spotting undiscovered markets is a tomb rule for high investment performance.But what are the risks involved?

Tubbs has a point when he says that we should be careful not to understimate the countries outside the Bric.  “18 other global emerging markets exist that make up 48% of the [MSCI] GEM index,” he said.

Saudi Arabia Kingdom

He specifically expects Saudi Arabia, Qtar and South Korea “to outstrip the growth of their larger Bric peers over the next 12 months.

A more complex world to evaluate. Investing is not only a question of high returns. Considering volatility, liquidity and risks are equally important  when making investment decisions. Differences in culture, how to do business,geo-political risks should also be evaluated.  I am not saying they are worse or better, only different.

Emerging markets are a challenging  job to American and European fund managers. Each country has a different ethos. Most of the times, it is wiser to have a local advice  before committing  one’s clients money.