From Frank Holmes of U.S. Global Investors:

The Russian MICEX Index, which increased 22.5 percent in 2010, has jumped 15 percent so far in 2011, significantly outperforming many other markets.

China is the second-best performer of the BRICs, rising more than 5 percent, while India (down over 10 percent) and Brazil (down over two percent) have lagged. Overall, the MSCI Emerging Markets Index has dropped just over one percent.

This has effectively recoupled Russia with the other BRIC countries. The Russian economy lagged out-of-the-gate once the global recovery began, leading some to question whether it belonged in the same category as Brazil, China, and India. Those sentiments seemed premature and symptomatic of an anti-Russia mindset.

Russia's outperformance has been driven by several factors. First...

Read full article...

More on emerging markets:

Why it's time to invest in the "breadbasket" of Europe

The four global "mega trends" every investor needs to know about

The mid-east crisis has created huge value in this emerging market sector