Russian equity funds continued to dominate the three-year rankings, ended March 31, taking eight of the top 10 positions. At the top was Firebird Fund LP, which advanced a cumulative 564% (88% annualized) in the period.
INVESCO CEAM Asset Management's East Europe Development Fund was the top performer for the five- and seven year-periods, with cumulative returns of 637.69% and 700.47%, respectively, reported S&P Micropal. Annualized returns were 49% and 35%, respectively.
The other funds in the top five for the five-year period were all Brazilian equity funds.