GEM ’s Emerging Value Opportunities Fund (EVOF), managed by Bahamas-based emerging markets-focused investment manager GEM Global Equities Management S.A., was down 3.3% in July (and down 40.7% YTD). The fund is up 122.5% since its 1993 inception and the NAV is $673.46 as at 31-July.

Comparatively, the MSCI Emerging Markets Total Return Index was up by 8