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For example, a top holding of the Thornburg Developing World fund is Jerónimo Martins, a retailer.
Many are in Asia, which accounts for 28percentt of the Templeton World fund and 16percentt of Templeton Growth.
"I think we've entered a very difficult period for the emerging markets," said Lewis Kaufman, manager of the Thornburg Developing World fund, which has beaten 93 percent of its peers over the last year.
Since the first SRI mutual fund, Pax World Fund, was established in 1971, several others now exist providing investors with a range of opportunities, including a growing international SRI market.
"If investors are going to keep money in technology then they'll typically put it into a blue chip," said Adrian Brass, a manager with Investec Guinness Flight's Wireless World fund, which has assets of $25 million.
But with the American economy expanding, with jobs being created and with interest rates low in much of the world, fund mangers say exports from Asian countries should continue to grow.
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Over its seven years, its 16.6% annualized return is almost thrice that of the average world stock fund.
Moreover, by simply repackaging existing funds in different parts of the world, fund-management companies can begin to do something most other industries only dream about: sever the geographical link between "manufacturing" and distribution, without increasing costs or lowering quality.
In her memoir "A Fine Old Conflict" (1977), Mitford recalled being chosen to head the local People's World fund-raising drive, a campaign that "was to me reminiscent of the London season".
Mr. Connor of World Funds said that some old risks still haunted the Russian investment landscape.
Mr. Grant of Pax World Funds rejected the argument that disclosing proxy votes would be expensive.
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