Despite the fact that investor interest in emerging markets seemed to decline during the first quarter, Emerging Global Advisors announced its assets under management soared as investors looked for more precise exposures to emerging market opportunities.

The firm announced on Friday that assets under management shot up 22.4% to a record $523.91 million for the first quarter.

“We believe investors are increasingly coming to appreciate the value of more precise portfolio construction tools in order to participate in the ownership of businesses within emerging markets,” said Marten S. Hoekstra, CEO of Emerging Global Advisors, in a statement. “Some investors are recognizing the factors that are turning emerging markets into more developed markets. This recognition creates a tendency for them to choose thematic or segment exposures over investment tools which include all sectors and also countries that have already moved from emerging to developed status.”

EGA’s most popular funds are ECON, which invests in emerging markets consumer companies; BRXX, which invests in Brazilian infrastructure companies; and INXX, which invests in India infrastructure companies.

During the first quarter there also has been an interest in more inflation-sensitive investment ETFs, such as EEO, which invests in companies focused on the development and production of crude oil and natural gas, and that provide drilling and other energy-related services, and EMT, which invests in companies whose revenues are generated in the areas of diversified metals and mining, gold, steel, aluminum or precious metals and minerals, the firm said.