There are many countries in the world whose stocks do not trade in the US exchanges. Some of these countries have domestic stock markets and have given investors great returns who dared to invest in them. Many of these are in Africa, Middle East and in Asia.

Some of the frontier markets can be explored by investing in closed-end funds that invest directly in the domestic markets of those countries. A few of those funds are discussed below:

1. Indonesia Fund – IF
This fund has an asset base of $88M and an yield of 0.35%. The 5 year return was 46% and in the year 2006 the fund returned 104%. Portfolio has heavy financial exposure.

2.Thai Capital Fund – TF
The 5 year return was 26% and last year returned 23%. Has an expense of 2.45%.Currently trading at 10.56% discount to the NAV.

3. Thai Fund – TTF
Trading at a discount of just over 9%.Has a 5 year return rate of over 24% and an expense ratio of 1.74%.

4. Turkish Investment Fund – TKF
Has a yield of 1.79% and last year it returned 31.50%