Emerging markets are known to be highly volatile. Nonetheless, many international or global funds are too highly concentrated in emerging markets, a fact that came to light in the past week when markets in Brazil, Russia and India tumbled--and many international funds fell right along with them, The Wall Street Journal reports.

And as investors have seen their funds decline, they're pulling their money out of what has been a red-hot sector for a number of years. In the week that ended Wednesday, international funds suffered net outflows of $1.9 billion, according to AMG Data Services.

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