These are excerpts from a recent article at morningstar.com:
“Diversified emerging-markets funds have faced exceptionally varied conditions in the past couple of years. Most of the world’s emerging markets posted sizable losses in the first half of 2013 due to worries about their currencies and various other local issues as well as concerns about the global economy.
Several markets, such as China and India, bounced back sharply in the second half of the year as local conditions improved and finished 2013 with modest gains or only limited losses. But many others, such as Brazil and Turkey, were sluggish or continued to struggle in the second half of the year and ended 2013 with double-digit declines.
Altogether, the MSCI Emerging Markets Index lost 2.6% in 2013, even though Taiwan, Malaysia, and most frontier markets posted nice gains.”
You can read the rest of the article here.