Kevin Carter's passion for emerging markets quickly put him at odds with the available ETF options for investors. Even in the largest offerings from established providers, he says the problem was apparent: investors weren't getting exposure to the innovative companies garnering global attention, such as Baidu, but rather staid, government-owned entities.

Frustrated with the industry's approach and methods, Carter set out to develop an index that tracks e-commerce companies in emerging markets, reflecting what he says is its most vibrant, well-funded and best managed segment. The result is the Emerging Markets Internet and Ecommerce ETF, which tracks the Emerging Markets Internet and Ecommerce Index created by his California-based firm, Big Tree Capital.

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