Emerging and frontier markets continue to offer value for investors

Over the last few years emerging markets were the big investment story, in particular Brazil, Russia, India and China, known as the BRIC countries. Are emerging markets, however, now being challenged by the opportunities offered in frontier markets? Hedge Fundsa Review looks at how hedge fund managers view the prospects of these two investment areas.

Which offers a better investment opportunity, emerging or frontier markets? According to Paul Graham, head of alternative investments at Baring Asset Management, the answer is "both".

"We still believe that emerging markets are an incredibly positive strategy. There may be a bit of volatility in the short term, because of the US issues. Frontier markets on the other hand are looking very good indeed as they are completely unaffected by those issues," says Graham.

Graham outlines his reasons for