Emerging Market Fund

What Does Emerging Market Fund Mean?
A mutual fund or exchange-traded fund that invests the majority of its assets in the financial markets of a single developing country or a grouping of developing countries. For the most part, these countries are in Eastern Europe, Africa, the Middle East, Latin America, the Far East and Asia.

Investopedia explains Emerging Market Fund
A developing country is characterized as being vulnerable to political and economic instability, having low average per-capita incomes, and of being in the process of building its industrial and commercial base. The "emerging market" label has been adopted by the investment community to identify developing countries with superior growth prospects. Obviously, potentially rewarding investment opportunities in this category of fund come with relatively high risk.