Emerging-Market Investing -- How the Pros Do It

By Ben Steverman - 2011-12-09T17:28:30Z

Photograph by Javier Pierini/Brand X/Getty Images

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Off the Beaten Track

Finding opportunities requires traveling to "out of the way" places, says Francisco Alzuru, manager of the Hansberger Emerging Latin America Fund. You're never sure what you'll find. He's stayed in hotels without running water. He's accidentally gone to church in one of South Africa's most dangerous neighborhoods. And, at a steel mill in Argentina, he noted the workers each drank a couple of glasses of wine at lunch, then went back to work. The mill's safety record was clean, so he invested anyway.

Read the full special report.