%0 Journal Article %A Mark R Eaker %A Dwight M Grant %A Nelson Woodard %T Realized Rates of Return in Emerging Equity Markets %D 2000 %R 10.3905/jpm.2000.319727 %J The Journal of Portfolio Management %P 41-49 %V 26 %N 3 %X The authors analyze the returns of nine emerging markets for the period from 1976 through 1997. They find that although currency movements (primarily depreciation) have a dramatic impact on individual country returns, they have a much reduced impact on real returns and insignificant impact on the returns of a diversified portfolio. In addition, the authors demonstrate the importance of rebalancing and its effect on both the risk and return of an emerging market portfolio. %U https://jpm.pm-research.com/content/iijpormgmt/26/3/41.full.pdf