Advance Developing Markets Fund's net asset value per share rose by 12.0% in the six months to the end of April.

This compares with a 9.3% rise in its benchmark, the MSCI Emerging Markets Net Total Return Index in sterling terms.

The company's share price rose by 12.3% during the period.

Chairman Richard Bonsor said: "In an environment of continued record low interest rates and recovering risk appetite, emerging market equities remain an attractive long term place to invest."

At 9:29am: (LON:ADMF) share price was +2.25p at 414.75p