This past year the news has been filled with stories about crises in Africa and the Middle East. There is the piracy on Africa's east coast, a smoldering insurgency in Uganda led by the reclusive self-styled Christian guerrilla Joseph Kony, armed thugs in the Congo region, corruption scandals in South Africa, and of course a chain of uprisings and civil wars across the Middle East, where the so-called "Arab Spring" has overturned seemingly unstoppable dictatorships even in large countries like Egypt and oil states like Libya.
So it comes as some surprise that on a list compiled by Lipper Inc. of the top performing emerging market funds, the top tier of leading funds includes several that specialize in Africa or in Africa and the Middle East, one that focuses only on smaller cap firms, and one that is so conservative in its investment strategy that it rarely finds itself at the head of the pack.
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