The first three funds on Milltrust?s ?best of breed? emerging markets UCITS platform last year have reported positive performance.

Emerging Markets Managed Accounts (EMMA), the Dublin-based UCITS umbrella from Milltrust International, was established with State Street to provide institutional investors with a single custodian.

The first three funds comprise of a Greater China Fund, managed by Value Partners in China, a Latin American equities fund managed by Banco Ita? and a Brazil equities fund run by BTG Pactual.

Since the June 2012 launch, the Milltrust Value Partners Greater China Fund returned 13.43%, while the Milltrust Latin America Fund gained 18.45% and the Milltrust Brazil Fund returned 14.25%.

Alexander Kalis, partner and head of manager research at Milltrust, says: ?The world has evolved from passive and benchmarked investing. Investors are now interested in managers that can demonstrate active portfolio management skills based on high conviction calls backed by local, on- the-ground specialist research teams.?

Two new funds will be added to the EMMA Platform in the coming weeks ? including the Milltrust India Fund which is to be managed by UTI Asset Management and Milltrust ASEAN Fund to be managed by Lion Global Investors, a subsidiary of OCBC Bank in Singapore.