FAR OFF THE BEATEN PATH

Since January 2000, investments in the developed world have posted annualized returns of only 1%, while emerging markets like Brazil, Russia and China have returned 12% per year.

So-called "frontier" markets have done even better, gaining 20% a year in this century. Frontier markets are countries such as Nigeria, Kazakhstan, and Qatar. The fall of communism in Eastern Europe, debt relief in Africa, and the diversification of Middle Eastern economies all add up to a new landscape of markets poised for rapid growth.

Although there are few ways to easily invest in these little-known markets now, both Fidelity and T. Rowe Price have recently introduced funds that do invest in these areas.

* * * * *