What a difference a few months can make. After being one of the most shunned asset classes last year, emerging markets are fast winning-back investors' love.
Following a weak start to the year, emerging markets have found renewed strength with the MSCI Emerging Markets Index rising 7 percent since February. The benchmark S&P 500, by comparison, is up 5.8 percent over the same period.
Mark Yusko, CEO of Morgan Creek Capital Management, believes emerging markets are "back" as efforts by policymakers to correct their economic imbalances have fueled the enthusiasm towards the asset class.
"(Last year) people gave up on the emerging markets as for dead. But I think emerging markets could be a real strong performer this year, and the Fragile Five in particular," he said, referring to the five economies, including India, Indonesia, Brazil, Turkey and South Africa, which were the hardest hit during the emerging market sell-off last year.