Emerging markets (EMs) are frequently perceived as riskier than their developed counterparts. By extension, they are sometimes also thought of as inherently ‘wilder’, more unpredictable and maybe even dangerous. Does this mean the managers of funds that invest in emerging markets are uncommonly intrepid – a kind of stockpicking mélange of Bear Grylls, Sir David Attenborough and Indiana Jones? Not exactly. In reality, the notion that EM investments inevitably entail higher risk is outdated.